Feeling like you're playing with loans until you're just three steps away from liquidation, just like an ECG line about to go flat... I usually don't want to "bet on a rebound," so I do three small things first: 1) Lower the leverage a little, even if it's just paying back a small amount, and the liquidation price immediately moves outward; 2) If possible, swap to a more stable collateral, don't hold on to highly volatile assets; 3) Keep some bullets for topping up the margin, otherwise one small spike can force a forced sale. To put it simply, prioritize survival before talking about profits.

Recently, the "interest stacking" method of pledging has been quite noisy. My feeling is: the more layers of leverage, the more like a landmine at the liquidation line, and if something goes wrong, you won't know which link first cracks. My roommate also complained that I stare at the liquidation price like I’m watching a food delivery, but I’d rather earn less than be forcibly liquidated by waves of volatility. That’s it for now.