I now treat lending and borrowing as “driving without wearing a seatbelt,” and if I can avoid it, I do. If it ever gets to the point where the liquidation line is just three steps away from the red line, my first reaction isn’t to pray for a rebound—it’s to cut the leverage first: either add some margin or directly reduce my position and repay part of it. Either way, I pull the survival line further away; I don’t “take it personally” and gamble with the market. I used to stubbornly hold on, thinking “it’s only a little bit more,” and the result is often that little bit more is exactly what gets me swept away…

Now I’m used to setting an early exit line for myself. I’d rather take a loss and leave than be the protagonist of some story. Quick rant, too: the recent wave of social mining and fan token “attention is mining” schemes sounds lively, but I really don’t want to use my attention to patch the holes caused by liquidation—plus, attention is also pretty expensive. That’s it for now.