A few days ago, I was once again drawn in by the excitement of memes, watching on-chain data tools show the "Smart Money Label" continuously adding positions. I was thinking to myself: this time, surely I won't be the one to take the final baton. But it turned out... as soon as the label was updated, people had already changed their aliases and ran away. The data looked pretty good, but in reality, it was lagging ridiculously, and frankly, it could still be fed false signals.

Later, I set a very simple rule for myself: if I don't understand it, I won't act first. Previously, I once aggressively bought a narrative coin; I was very firm when it was rising, but when it fell, I was emotionally heated and refused to admit defeat. It was only when a long bearish candle appeared that I cut my losses, losing not just money but also my mindset. Now, when I encounter these "emotion-driven" markets, I set a stop-loss before entering: if it falls below my buying rationale, I exit—no waiting for the story to finish. Anyway, I can afford to lose and keep playing; if I can't afford to lose, I shouldn't pretend.