I just realized recently that liquidation isn't always about you "misreading the direction"; sometimes it's because the oracle feeds prices too slowly. When the market suddenly moves, the on-chain spot price is still stuck at the previous second, so your position feels safe based on the old price. But the next update might directly jump to a worse level, and the liquidation line gets pulled down a bit, leaving no time to add margin before it's gone... Basically, you thought you had some buffer, but in reality, you don't.

Not long ago, everyone was shouting "wait for confirmation" when the cross-chain bridge was hacked. Now I see oracles are pretty much the same: some protocols prefer to feed prices slowly rather than feed incorrect data, but being slow can be deadly for leverage traders. Anyway, I now open positions with a bigger cushion, and if I see a bunch of people arguing about "abnormal" prices from oracle/quote sources, I reduce my position first—losing a bit less is better than waking up to find you've been liquidated.