I just got a little itchy again and wanted to chase a move, paused for ten seconds and asked myself: What new information have I actually gained, or am I just being pushed to add to my position by that kind of "If you don't get in now, you'll miss out" emotion. To put it simply, emotions tend to tighten the position more and more, while information might make you hesitate and verify.

These days, with cross-chain bridges being hacked and oracles reporting outrageous prices, a bunch of people in the group suddenly become very disciplined: "Wait for confirmation." It's quite funny but also very real. Usually, everyone is rushing in, but when something actually happens, they start talking about procedures. I used to be obsessed with "I only look at on-chain data," thinking that seeing inflows and outflows meant I had seen through everything. But after several liquidation waves, I learned: on-chain data is an echo chamber, not a direction; relying solely on emotions is also not enough—emotions can explain the trend, but they can't tell you where the knife is coming from.

Now I set a simple rule for myself: if I want to chase a rally, I first reduce leverage. Wait until I can clearly explain in plain language why I must enter now, then take action; if I can't explain it clearly, forget it—staying alive is more important than earning that small profit.