When it comes to lending and borrowing, once you're close to the liquidation line, I actually stop looking at the K-line for the first few steps and focus on whether I really want to hold. Usually, I do three small things immediately: reduce my position to a level where even one more candle won't make my heart race (in other words, survive first), deposit the margin I can top up in batches but avoid giving myself the chance to get "more excited" as I top up, and finally, set the stop-loss/repayment path in advance so I don't get frantic when the chain gets congested. Recently, we've been talking about rate cut expectations, the US dollar index, and risk assets rising and falling together—correlations can change suddenly. The worst is thinking "macro is on my side" and stubbornly holding on. Anyway, my current principle is: the closer to the red line, the more I follow the process, and I don't gamble on emotions. We'll talk again next time.

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