Unrealized losses are really more tormenting than unrealized gains. When I make money, I sleep soundly; when I lose, I keep thinking, "Will the next candle break through the liquidation line?"… Basically, it's loss aversion, right? The pain of losing 1 dollar is much greater than the thrill of earning 1 dollar. The previous experience with leverage was even more obvious—despite not having a large position, watching the borrowing pool utilization and health metrics like an EKG, the more I looked, the more anxious I became.

Recently, there's been talk about some region raising taxes and tightening regulations, then loosening them again. This kind of fluctuation in deposit and withdrawal expectations makes unrealized losses more emotionally amplified: it's not about fearing the loss itself, but about fearing "when I want to withdraw, it won't be smooth."

Now I am willing to go through a bit more trouble for safety: before opening a position, I leave a large margin below the liquidation threshold, and I also spend a few minutes dispersing collateral into two protocols. Losing a bit less is okay; at least I can turn off the K-line at night. That's how I'll do it for now.