These days, I've been seeing a bunch of meme narratives, it's really lively, but I've set a rule for myself: first think about "how much am I willing to lose," then decide whether to get in. To put it simply, stop-loss isn't about predicting right or wrong, it's about not being dragged along by emotions. Usually, I place my stop-loss near the "narrative failure point," such as when community enthusiasm fades, on-chain activity drops, or the project team suddenly changes parameters/migrates, making information opaque. Then I accept defeat and walk away, not getting emotionally attached. The macro side, like expectations of interest rate cuts, and the USD index moving up and down with risk assets, is also quite mysterious. The more this correlation fluctuates, the less I want to treat meme tokens as my main position, leaving some bullets in reserve to sleep more peacefully.