Recently, I saw a bunch of people linking ETF capital flows, U.S. stock market risk appetite, and the rise and fall of the crypto market... Honestly, it sounds very reasonable, but the things that really affect sleep are often not these macro narratives, but your own small floating losses. When I have a paper profit, I can "hold on first and talk later," but when I’m at a loss, it’s different. I stare at the screen, and my mind automatically fills in "should I cut losses, will I go to zero, am I stupid," even though the numbers haven't been realized yet, my emotions have already been pocketed.

A few days ago, I also felt a bit scared: I almost added to my position to tough it out for "breaking even," my finger was about to hit the confirm button, then I suddenly realized this has nothing to do with on-chain mechanisms, it’s purely loss aversion pushing me to do something stupid... In the end, I cut my position smaller, set a range I could accept, and went to sleep. Anyway, my current principle is: don’t use bigger risks to recover lost money, at least don’t sacrifice your sleep.