I found that what affects my sleep the most isn't how much I've lost, but the floating loss of "not having lost everything yet"… When I'm making a profit on paper, my mind automatically discounts it: Oh, just good luck, don’t take it seriously; but once it turns red to green, I start to add drama: Did I judge wrong, are there more pitfalls ahead, should I admit defeat now. Honestly, floating losses are like an alarm clock that hasn't been turned off, ringing constantly, even if you pretend not to hear it.

Recently, the group has been discussing stablecoin regulation, reserve audits, and various "de-pegging" rumors, increasingly resembling a countdown to doomsday. I’m not completely dismissive of risks, but I’m really annoyed by that kind of emotional contagion: you initially just have a paper drawdown, but then you're fed a bunch of "possible zeroing" imaginations, making it even harder to sleep. My clumsy approach now is: keep my position small enough to sleep, only read the original texts and avoid secondhand scary talk, and as for the rest… forget it, I’ll worry about it tomorrow.