Forget the stop-loss thing—it’s just like a breakup. Even though it’s obviously not going to work, you still drag it out, and in the end you lose more to trading fees, plus you end up paying interest, and finally you can’t even save your principal. Admit the loss sooner—at least you save time cost, and you can free up your position to look at the next move.

I used to trust only on-chain data. I thought the order book was a scam. Then I got wiped out by a contract, and it got so bad I could barely recognize my own assets. But now, I don’t dare ignore any of it: the order book, unlocks, and the market maker’s movements. Emotion and liquidity are more important than the fundamentals.

Recently, those news items about what taxes being added and compliance getting tightened have changed everyone’s expectations for deposits and withdrawals. To put it plainly: people are scared that money can get in but can’t get out. Everyone’s gambling, but when liquidity is poor, once you run, you might not be able to get out of the way—or get back in—afterward.

Forget it, let’s leave it at that. Anyway, I’m always ready to make a run.