That lending liquidation line thing—when I’m three steps away from the red line, I usually stop pretending: first, cut your position down to a level where you can sleep, and then add a bit of margin if you need to, but only if you’re not relying on “waiting for a rebound” to keep you alive. In plain terms, turn off the leverage that can wipe you out in one go first—keeping some ammo matters more than saving face. Then get your notifications, stop-losses, and repayments all set up; don’t count on your order-entry reflexes at the moment to save you.

Recently, I’ve been interpreting ETF fund flows and that bit of risk appetite in the US stock market as being tied to the rise and fall in the crypto market. It sounds pretty lively, but for me it’s just a thermometer—when it gets hot enough to burn, you need to reduce leverage even more.

What I fear most isn’t losing money. It’s losing control: losing money means you can still go back and review, but losing control is when you watch the liquidation line inch closer and closer to your face and there’s nothing you can do. That’s it for now.