Wmax's behavioral finance series provides an in-depth analysis of the cognitive biases behind gold's rise, revealing how fear of missing out, overconfidence and groupthink affect trading decisions. Through institutionalized rules and counterfactual thinking, it helps traders stay awake in the market frenzy, identify psychological traps, and build long-term stable trading logic.

This article explores how time preference drives trading behavior. Analyze the intertemporal inconsistency caused by hyperbolic discounting, the distortion of rationality by high-frequency feedback, and how action bias destroys compound interest. It is recommended to combat human shortsightedness through institutional design, build long-cycle thinking, and make time an ally rather than an enemy in transactions.