When it comes to lending and borrowing, I usually stop pretending when the liquidation line is just three steps away: first, take a screenshot of the position for record (reminding myself not to be stubborn), then do two things immediately—either add some margin to push the red line further away, or simply reduce the position to pay off part of the debt. Basically, don’t think “wait for the rebound,” the more you wait, the more it seems like you’re arguing with the liquidation bot...

Recently, everyone’s been talking about rate cut expectations, the US dollar index, and risk assets acting up together. What I’m more afraid of now isn’t the wrong direction, but a sudden spike of volatility that pierces you through. Anyway, I tell myself I won’t chase highs, but when I get close to the red line, I still get nervous. It’s better to stay alive first and then think about the bigger picture.