I used to be playing LP and still thought, “Anyway, there are trading fees to cushion the loss.” Then when impermanent loss hit, it directly gave me a lesson… Now when I look at meme narratives, it’s even more realistic: the hype is fun, but first, clearly write out “what’s the most I can lose.” Otherwise, once emotions run hot, you can’t come back down.

When celebrities shout a few words and attention moves in one wave, it really makes people’s hands itch. My approach is kind of old-school: before entering the market, set a hard stop-loss price/condition (if it breaks—just leave, no storytelling). Also keep the position small enough that even if it goes to zero, it won’t affect your sleep. If you’re already up to a double, I’ll first take back the principal, and the rest is like a lottery ticket. Plainly speaking, the advice to not take the last hit sounds old-fashioned, but it’s true that it works. Live first, then talk about gains.