Stop loss really is like a breakup: the more you drag it out, the more you keep thinking, “Just give it one more chance.” In the end, you get ground down day after day by funding rates until your mindset finally breaks—and you still have to take the hit with the last cut. That way, it hurts even more. To put it plainly, admitting you’re wrong isn’t embarrassing. What’s embarrassing is knowing it’s not right and still stubbornly holding on—handing the market both interest and time.

Recently, in some places they’ve been raising taxes and tightening compliance rules, only to ease them again a while later. Once expectations for deposits and withdrawals shift, your emotions are even easier to get led around. Anyway, I’d rather make a little less now: keep my positions clean, if I’m wrong I leave—mouthy pride is useless, and my hands have to stay cold.