Just finished reviewing a perpetual contract trade that I lost quite a bit on. The problem isn't the direction; frankly, I mistook "being able to execute" for "being able to execute at the price I want"... At the time, I saw the order book on L2 was thin, and I thought about grabbing a quick fill first. But in the heat of the moment, I used a market order to sweep in, and the slippage directly taught me a lesson: when depth is insufficient, the more impatient you are, the more expensive it gets.

Later, I realized my order pacing was also poor: I initially planned to place limit orders in two stages—first to probe, then to add based on changes in funding rates. But I got carried away by the hype around "ETF fund flows + US stock risk appetite," and my pace was sped up by the sentiment, turning my plan into a chaotic stew. The reminder I need is: when you see the excitement, pause for three seconds first. The order book depth and slippage are like the oil temperature in a pot—if it's not hot enough, don’t put the meat in. Better to eat a little less than to treat stop-loss as decoration. Anyway, next time I’ll place orders first and take it slow.