These days, I've been seeing a bunch of Meme narratives again, and the group's emotions are more volatile than the K-line... To be honest, the excitement is just that—excitement. What I’m more worried about is where the “knife” is coming from: on one hand, shouting about community consensus, and on the other, repeatedly mentioning pledge unlocks/token unlock calendars, with selling pressure anxiety written all over their faces.

My current stop-loss is pretty simple: before entering, decide that I must withdraw before the third time adding to my position; if the trend doesn’t look right, just treat it as paying tuition and walk away; also, if I see liquidity suddenly thinning out or the order book being easily broken through, don’t think about stubbornly holding onto the narrative. Anyway, Meme isn’t short of the next one; what’s missing is the principal you can still come back with.