Interest rates, to put it simply, are the "price of cash." When they go up, everyone is more willing to hold onto cash and wait; as risk appetite shrinks, my positions also shrink accordingly: it's not that I don't believe in the market, but I don't want to clash head-on with macro trends. On-chain slippage is quite honest—when sentiment cools, liquidity thins out, and a small price move can shoot up sharply. Not setting stop-losses is really asking for trouble.

Conversely, once the market feels "it's just like this," risk appetite returns, and the depth on DEXs immediately looks better. Only then do I dare to split my orders into smaller parts and add gradually; otherwise, a big single order might get fully sniped by MEV...

And then there are all those points on the testnet—everyone's betting whether the mainnet will launch tokens. I also get itchy to try a few, but thinking about it, it all boils down to risk preference: when money is tight, farming airdrops feels like looking for part-time work; when funds are loose, it’s more like playing the lottery. For now, I’ll just leave the orders and wait until the food delivery arrives.