In the past, I used to chase meme narratives, thinking "liveliness = opportunity," now I basically ask myself first: where am I prepared to admit defeat. To put it simply, stop loss is not about price, but about time + structure: once the market depth starts hollowing out, and a single order causes a collapse, I withdraw first, willing to earn less. Recently, during the extreme fee rate period, whether to reverse or continue squeezing the bubble in the group chat was debated, my approach is quite simple: don't guess the direction, just focus on execution, before rushing in, write down the exit plan, reduce positions if the execution is slow, treat larger slippage as a signal. Anyway, meme doesn't play by the rules, I just hope it doesn't talk sense to the point of liquidation.