I used to think that macro strategies were far from me, anyway, I just earn fees slowly by doing LP; now I realize that when interest rates change and everyone's risk appetite shifts, the inflows and outflows in the pool, slippage, and trading frequency all change accordingly, and the transmission is quite direct. Recently, the expectation of interest rate cuts has been brought up again, and the fact that the US dollar index and risk assets rise and fall together is also quite surreal. To put it simply, it's just emotions racing ahead, and positions can easily be amplified in an instant.

My own approach is rather simple: when expectations are unstable, I reduce my positions a bit, and I don't set the range too narrow. I'd rather earn fewer fees than suffer unpredictable losses from being whipped back and forth... Once everyone's emotions cool down, I gradually add back. Anyway, I don't chase hot topics; living steadily is more important.