That liquidation line in lending is really just the "Red Line Three Steps." When people get anxious, they want to leverage back up... My current clumsy approach: first cut my position to a level where I can sleep peacefully, even if it means taking a loss, rather than betting on a rebound; then see if I need to add some margin, but only enough to stay "a little bit away from the line," don’t tie yourself down; finally, pay back a portion of the borrowed amount, because the interest stacking up is too annoying. To put it simply, liquidation isn’t losing money, it’s being forced out completely.

Recently, there’s been a bunch of memes and celebrities shouting, and some people rush in. I’m also itching to do the same, but really, don’t open a loan during this attention rotation tail. The old players’ advice of “don’t take the last hit” I didn’t believe before, but now I do... Anyway, if I get close to the red line, I’ll just survive first, and make money later.