Ever noticed how gain thresholds mess with trader psychology? An 8-figure portfolio holder gets triggered to sell after +$150 gains, while someone sitting on +$15k daily profits can't resist hitting sell when it dips to -$4k. Same emotional pattern, different scales. The gap between unrealized gains and the panic threshold creates wild inconsistency across portfolios. What's fascinating is how the percentage-to-absolute-value ratio barely budges, yet conviction seems inversely correlated with position size. Maybe portfolio psychology isn't about discipline at all—it's about the story we tell ourselves when numbers shift. Worth investigating how this shapes market microstructure.