Let's talk about the liquidation line. When you're just three steps away from the red line, don't think "I'll hold on a little longer and it'll come back." I usually cut my position down to a level I can sleep at night: either add some margin to push the line further away or directly reduce leverage by cutting positions, anyway, first eliminate the risk of being forcibly sold. Then clearly write out your stop-loss/contingency plan; if you don't write it, it's as if you have none, and the market gets frantic, people will panic and act rashly.

Recently, large transfers on the blockchain and hot/cold wallets of exchanges are often interpreted as smart money moving, but many times it has nothing to do with your liquidation line. Don’t get emotionally triggered into adding more. To put it simply, I treat complexity as an enemy: only focus on the liquidation price, position size, and the drawdown you can handle; everything else is noise. That’s it for now.