In the past, I would still tough it out three steps before hitting the liquidation line, thinking "If it bounces back a little more, I'll be safe," but I was mostly educated otherwise. Now, whenever I see the health indicator start to turn yellow, I do three things first: reduce my position / close part of my perpetuals to lower leverage; then add some margin but not go all-in, keep some bullets; finally, switch the borrowed assets to less volatile ones, so that collateral and liabilities don't fluctuate together. On-chain large transfers and sudden movements in exchange hot and cold wallets are often called smart money, I also take a look, but honestly, they have little to do with my liquidation line. The real danger is having too full a position. Anyway, when you're close to the red line, don’t be stubborn—survive first, reputation isn’t worth it.