Why do so few manage to exit near market peaks? The answer lies in herd psychology—it's universal across all assets. When euphoria hits, everyone wants a piece. Bullish narratives take over, and staying rational becomes nearly impossible.

Here's the split: Real conviction means holding through volatility at reasonable entry points. You build it gradually, through ups and downs, without chasing tops. That's patience meeting discipline.

What looks like conviction at ATHs? It's usually just delusion mixed with greed. The crowd doesn't want "enough"—they want more. And more. Until it breaks.