I am now looking at borrowing positions, mainly treating it as a "weather warning": when the liquidation line is only three steps away from me, the most dangerous thing is not the price drop itself, but that I might get itchy to "optimize"—adding more positions, moving things around, casually opening another trade, feeling like I am actively managing, but actually just using operations to ease anxiety.

When it really gets close to the red line, I usually do three things: first, stop, don't add any new variables; then slightly reduce leverage (even just enough to withstand one or two more fluctuations); finally, prepare the bullets that can be replenished at any time, and don't scramble to find liquidity at the last minute. Honestly, surviving is more important than "making the position look smarter."

Recently, everyone has been talking about rate cut expectations, and the strange synchronization of the US dollar index rising and falling with risk assets... At such times, I trust less in "macro providing a safety net," because on-chain liquidation is a hard rule, and when sentiment twists, it easily triggers a chain reaction. Anyway, I prefer to keep a safety cushion and less storytelling. That's all for now.