Loss aversion really is hardwired into our genes. When you’re sitting on unrealized losses, you almost want to refresh the chart every second, and your brain automatically loops the “Should I add to average down?” devil dialogue. When you’re up on unrealized gains, instead it feels like, “Yeah, that’s normal, it’s supposed to be like that,” then the moment there’s a pullback you rush to exit—only to slap your forehead afterward.

Recently, with the cross-chain bridge hack and the oracle abnormal pricing, when the market is jumping up and down, a lot of people’s first reaction isn’t to rush in and grab a bargain. It’s to wait patiently for confirmation—basically, they’re afraid of getting cut again. They’d rather miss out than take another loss.

Yesterday I watched a degen pool: down about 5% on paper, and I couldn’t sleep until 3 a.m. Today I’m back to break even a bit, but I’m reluctant to sell—classic “break even and leave” syndrome.

Anyway, the seasoning jars in my kitchen are labeled “stop-loss,” but I often forget to actually put it into the pot…