I realize that once I open a lending position, I tend to act like nothing's wrong until the liquidation line is only "three steps" away, and then I start to panic... So I need to be reminded: don't wait until the red line is right in front of you to implement risk control.

When I'm three steps away from the red line, I usually do just three small things: first, reduce some leverage (even just a little repayment, and the psychological pressure immediately eases), then switch the collateral to a more "stable" type, and finally write the warning price in a memo, don’t rely on myself watching the market constantly. Recently, with additional yields from pledge and shared security being criticized as "layered," I’m even more afraid that liquidity will tighten and all the funds will crowd into the same side. When that happens, liquidation isn’t a simple arithmetic problem; it’s a stampede... Anyway, I’ll survive first and pick up bargains slowly.