It’s been a while since I looked closely at the liquidation map. Today I glanced at it, and lots of positions are just three steps away from the red line. Honestly, my own position is a bit shaky too—seeing those numbers jump makes me itch to do something.

But I remind myself: when you’re three steps from the red line, the biggest taboo is panic. It’s like making mistakes at work—the more urgently you try to plug the hole, the easier it is to dig a new one. There’s been a lot of drama in chain games recently: studios exiting the market, tokens spiraling downward, and it’s genuinely unsettling to watch. The logic is basically the same—once you use leverage but don’t keep discipline, one misstep and everything goes back to zero.

When there’s too much information, my current approach is to focus on just one metric: the liquidation rate. I don’t look at the comments, don’t refresh group messages, I just watch those few numbers on my side, and confirm how many steps I am from the red line. Filter out any excess emotion, and what’s left is simply whether I should cut my position, and whether I should top up margin—simple and blunt.

Anyway, I’m going to trim some more of my position, leaving a bit of room to “water” it. That’s it for now—I won’t follow the crowd, and I won’t stubbornly hold on either.