I was watching an address’s on-chain activity until 3 a.m., and in the end I found out they were just switching to a different wallet to stake.

Suddenly I felt that’s what position management really is—basically “holding it the opposite way.” You think you can hold your position, but actually you’re holding it the wrong way around. Spot is too slow for you, perps are too fast for you, and in the end you don’t catch anything on either side.

Lately the whole NFT mess has been heated—royalties, creator income, and secondary liquidity. At the end of the day, it’s that everyone hasn’t made money, so everyone’s tempers are so big. If a project team can’t even support good-looking on-chain fund flow with cross-validation, then the “community consensus” they talk about is just like a mirrored ball—spin it around and nobody recognizes anybody.

Anyway, what I’m taking away right now is one human sentence: positions aren’t held by claiming them—you hold them by testing. When you test and get it wrong, you reduce; when you test and get it right, you add. Don’t wrestle with yourself.