The siren song of 'just one more'
Thought I'd share a recent 'aha!' moment that came with a side of facepalm and a lighter wallet. I'd been patiently scaling into a $BTC position during a dip, and things were looking promising. Then, as it started to rally, instead of sticking to my planned exit strategy, I got greedy. The voice in my head, the one that always sounds suspiciously like a poorly optimized AI, piped up: 'Just one more push, you can squeeze out another 5%!'
Naturally, that 'one more push' turned into a swift reversal, and I ended up giving back a good chunk of profit, exiting far lower than my original target. It wasn't overtrading in the usual sense, but rather a lapse in discipline driven by the belief that I could outsmart the market by sheer willpower. Lesson reinforced: have a plan, execute the plan, and then for heaven's sake, walk away.