These past couple of days, my biggest feeling from watching the market isn't the ups and downs, but that liquidity seems to have been suddenly pulled away: the order book is thin, slippage is large, and when I want to add to my position, my hand pauses. To put it simply, during times like these, it's better to survive first and talk about bottom-fishing later. I personally draw my positions and emotions on a chart and find that the more I try to "make up for it," the easier I am to make heavy moves, only to be pierced by a needle.

On the macro side, they're talking about rate cut expectations, the US dollar index, and how risk assets are still rising and falling together... It sounds more like emotions are leading rather than logic. Anyway, I now prefer to earn a little less, gradually wait in spot positions, and only keep a small amount of options for extreme cases, so I don't get wiped out by a liquidity crunch. Let's see.