Last night at 2 a.m., I was still flipping my positions, even though I was only slightly floating in loss, my mind automatically imagining "what if I keep throwing money in," and the more I thought about it, the more alert I became. When I was making a profit, I was very calm, even lazy to check, because that small profit was mentally defaulted as "it should have been mine"; floating in loss felt like pulling money out of my own pocket, and the pain was more real. To put it simply, loss aversion is so irrational: for the same fluctuation, the emotional weight on the loss side is greater, and sleep is directly taken away to serve as margin.

Recently, the inflation + studio + coin price spiral in blockchain games is actually the same: people aren't afraid of earning less, but afraid that "the little remaining assets in my hands will also be diluted away," so they step on the gas even faster. My simple trick: before opening a position, clearly write down "I accept losing up to this point," if not, don’t open, to avoid arguing with myself in the middle of the night.