Today I was "sandwiched" and educated again... You think you've caught an arbitrage opportunity, but the moment you click in, it actually feels more like you're paying someone else's transaction fee. To put it plainly, there are opportunities on the chain, but you're always a step too slow; when slippage is triggered, others have already boxed you in clearly.

Recently, I've seen everyone watching large transfers on the chain and hot/cold wallets of exchanges, shouting "smart money is coming" at every move, and I also get tempted. But then I think, this kind of excitement isn't really a signal for me, at best it's an emotional catalyst. The signals that really make me act are actually very simple: the order book suddenly becomes very "smooth," transactions aren't so aggressive, and I don't have to pray that the trade will survive when I click in... For now, that's enough; impulsiveness is really costly.