These days, meme culture is heating up again, and the group chat is arguing like it's New Year’s. I’d rather go check out the on-chain liquidation waterfall: when leverage gets squeezed, no matter how good the narrative is, it will be washed away together. To put it simply, I set two stop-loss rules for myself: before entering, decide on a price/time point where I’ll exit if I lose too much—don’t change it at the last minute; and keep my position small enough that I can sleep peacefully, otherwise, eye strain and stiff neck will cause me to slip up and add more.

The collapse logic of blockchain games is actually quite similar: inflation kicks in, studios run away, coin prices spiral downward, and in the end, only narratives are left to hype in the group chat. Anyway, now whenever I see “everyone is showing off,” I cut a bit first, save some bullets, and don’t treat stop-loss as just decoration.