Recently reviewing on-chain records, the feeling of sandwiching is really quite subtle: you think you've caught a small price difference, but it might just be paying for someone else's transportation. Arbitrage sounds like "efficiency," but when it comes to ordinary people confirming, frankly, it's a race against faster people in hand speed and information gaps. I usually don't get too aggressive; I prefer to eat less rather than use it as fuel.

What I fear most isn't losing money, but treating a set of "seemingly logical" operations as guaranteed profit, then making it more and more complicated, until I can't even clearly say what I'm earning. Recently, with staking and shared security yield stacking being criticized as "nested," I also feel a bit the same: the returns look great, but fees, slippage, and getting squeezed once can mess with your mindset... Anyway, I still follow the old rules: trimming positions, leaving room, taking it slow is fine.