When my leveraged lending position is three steps away from the liquidation line, I usually don’t tell myself, “It’ll probably be fine”… I’ll first sketch it out: my current health level, how much more it can drop before I get liquidated, and how many “bullets” I have available that I can actually use. Then I do only three things: cut a little leverage (even if it’s only a small partial repayment), add a little collateral (don’t throw it all in at once), and move the warning line up to a level where I can sleep at night. If I wait and act only when it’s near the red line, people get panicky and their hands start to shake.

Recently, hardware wallets have been out of stock, and phishing links are everywhere. I also used this opportunity to clear my authorizations. I’d rather move slowly than rush to save a position and accidentally click the wrong link. In any case, I don’t need to be understood—I just need to avoid liquidation. That’s it for now.