Floating losses really torment people more than floating gains. When you're floating a gain, you default in your mind that "this is given by the market, it could be taken back at any time," so you're more calm; once you have a floating loss, you treat it as "something I personally lost," even if you haven't sold yet, you keep reviewing in bed which mistake you made. To put it simply, losses forcibly occupy your attention and push you to make decisions: cut or hold, while gains can be dragged out indefinitely.

Recently, a bunch of people are watching large transfers on the chain and unusual movements in exchange hot and cold wallets as "smart money signals," and I find it quite annoying: you think you're tracking information, but you're actually just giving anxiety a reason. When a wallet moves, you imagine a story; when there's a small loss, you sleep even worse. Anyway, I now have a simple trick: first reduce your position to a level where even if you're in a loss, you wouldn't wake up in the middle of the night to check the K-line... We'll talk more next time.