I just saw a guy whose liquidation line was only three steps away from his position, and he was still adding leverage. He told me, “Pushing it a bit more is fine.” I burst out laughing—honestly, I was genuinely a bit pissed. What’s the difference from folding the last step wrong when you’re folding paper? If you’re three meters from the red line, you should already be thinking about how to get out— not how to keep trying to turn it around.

My own shitty rules: first, cut the position size in half—no matter what FOMO or gap-up feelings you have; second, top up the stablecoins so you’re in a spot that can withstand two rounds of volatility; third, keep an eye on the oracle’s feed price, so you don’t get skewered through by a needle. Once those three steps are done, at least you can catch your breath.

Lately I’ve been seeing a certain region tightening taxes, and compliance is getting tighter too. The expectations in my head for withdrawals and deposits have been wobbling along with it. Honestly, it’s pretty annoying, but there’s nothing to do—you have to adjust your strategy. When you’re folding paper and realize halfway through that the paper is wet, what can you do? You just keep folding—just don’t tear it.