Woke up again at 3 AM, opened my phone to check my positions—yesterday it was red, and now it’s gone back to green a bit, but that actually makes me feel even worse.

It’s strange: making $500 feels like nothing, but losing $200 can make me stare at the candlestick charts until dawn. Loss aversion—basically—means the brain ties “loss” and “danger” together. Back in the ancient days, it was like: if you don’t run, a lion will eat you. Now it’s: if you don’t cut the loss, you’ll be scared into liquidation.

Lately I’ve been seeing discussions about RWA and U.S. Treasury yield. A lot of people crunch the numbers and say that on-chain returns aren’t as stable as traditional wealth management. But what I’ve found that really keeps me from sleeping isn’t the yield figure—it’s that regret of “I clearly could have.” Like, I should have swapped into that instead; I should have taken profit earlier. When I’m in unrealized losses, my mind is nothing but “if only.” When I’m in unrealized profit, I’m strangely steady—anyway, I’ll just hold it for now.

So now I’ve set myself a rule: before going to sleep, I have to set a stop-loss, and I throw my phone into the living room. It’s not that I trust the strategy—I trust that at 2 AM my hands will inevitably get itchy.

Survive first, then talk.