Recently I truly felt that "paper losses disturb sleep more than paper gains"... Clearly, both are -3% and +3%, and I would think "Alright, keep running," but when it's a loss, my mind automatically starts reviewing: Did I choose the wrong bridge, is the liquidity too thin, did I over-save on gas fees? Basically, when I lose money, I feel like I did something wrong; when I make money, I just think luck is on my side.

These days, someone also interprets ETF capital flows, US stock risk appetite, and crypto market rises and falls as being linked, which I find quite annoying. Whether the direction is right or not, I won't say, but the noise is huge, and paper losses seem even more amplified.

I prefer "cut the position small first, calculate the costs clearly, and sleep if possible," rather than "hardly endure volatility relying on faith." Anyway, my current approach is: when the paper loss reaches a certain point, cut it in half first, keep some bullets, and don't let emotions eat up my execution ability.