I’ve realized there are two states where I’m most likely to get wrecked: not holding onto spot assets, wanting to cash out a little when prices go up for a sense of “security”; and with contracts, always feeling like I can control the risk, but then a single needle drops and I get liquidated immediately.

Later, I tell myself a simple truth: don’t think about making money every time, first consider whether you can survive and get up on the worst day.
Position size should be based on “being able to sleep peacefully,” treating spot as reserves, so even if prices drop, your mindset won’t collapse;
if you want to gamble on volatility, use a very small portion to play, and don’t add more to average out that self-comfort of “mistakes and covering.”
Recently, those new L1/L2 incentives to boost TVL, everyone’s rushing while complaining “mining, selling,” I see it as quite real: liquidity comes quickly, and leaves just as fast, so there’s no need to bet everything on it.
Anyway, I’d rather earn a little less now than experience another liquidation waterfall.
That’s it.