These days, I’ve been feeling a bit itchy again, seeing others say “Interest rates are rising” “Returns are stacking up again,” my first reaction is to want to add to my position.

As a result, I usually pause and ask myself: Am I really getting more information, or am I being driven by emotions?
Honestly, if I only see the candlesticks getting lively or the chat groups flooding, it’s probably just emotions;
If there’s real information, at least I should be able to clearly explain where the yield curve has steepened or whether the liquidation boundary has become more comfortable.

Recently, I’ve also seen some criticism of pledge and shared security as “copycat” strategies, which I can understand.
The appeal of stacking yields sounds attractive, but the risks also accumulate, especially when correlations come into play, making it hard to escape.
My “long-term” isn’t that grand either; I usually look at it quarterly:
Can I withstand a few fluctuations within a quarter without panicking?
If yes, then I consider the position to be truly mine; otherwise, it’s borrowed from the market.
Let’s leave it at that for now.