Last night, I got a little itchy and placed a small order, only to be educated by myself... I initially thought "just a tiny slippage, no big deal," but when I placed the order, I realized the depth was completely insufficient, the order book was as thin as paper. When I chased the price, the transaction price immediately floated away, and I was hit with a rebound later. To put it simply, it’s not the market tricking me, it’s that my order placement was too rushed: seeing the candlestick move, I wanted to enter immediately, without first checking the order book thickness, or splitting the order into several parts to eat slowly.

Looking back, there are two points: first, don’t treat slippage as just a fee; it’s actually telling you "this pool can’t hold you"; second, don’t trade with emotion, especially during those volatile minutes— the more impatient you are, the easier you are to be harvested by your own impulses. Recently, the community has been arguing about whether privacy coins and coin mixing count as crossing the line. I find it quite complicated too; compliance isn’t always something that can be explained purely through technology... but just like I lost money this time, the rules are there, and if you don’t look at them, they won’t accommodate you.

Forget it, I won’t talk about anything else today. I’ll just review the depth and slippage thresholds for my commonly traded pairs, so I don’t "think I understand" again next time.