I just reviewed that failed order from last night. To be honest, it’s not that I misread the direction, but that I was careless myself. I got impatient when I saw the order book, went all in at once, and set my slippage a bit too loosely. As a result, the depth was insufficient, and the first move pushed the price up. Then, consecutive trades all turned into “chasing my own buy,” making the average transaction price look terrible.

Actually, breaking it down, it’s a rhythm issue: I should have split the order into several parts, waited for a pullback to buy, or simply not pressed hard when liquidity was thin.

Recently, everyone’s comparing RWA, US bond yields, and on-chain yield products together, and I find it a bit amusing… The depth and slippage costs on-chain aren’t clear, and even a high “annualized” return can be wiped out by a single trade. From now on, I’ll be more honest: first, check the depth; don’t be lazy about slippage; it’s okay to place orders a bit slower. Alright, I’m off to work.