It’s already a few points past three. I stared at the liquidation line all night. Even though the red line is still three steps away, my hand couldn’t stop itself from wanting to add more. My brain kept telling me to “stay calm,” but my fingers were being completely honest about it. After all, with leverage and borrowing, it’s basically borrowed courage—when it falls, you feel panicky, and when it rises, you think you should’ve borrowed more. Last time I planted myself on the idea of “just hold on and it’ll pass,” and the liquidation price only just kissed the level before I got taken out immediately, with no buffer at all.

Recently I’ve been seeing Meme influencers shouting buy orders—newcomers rush in like they’ve been injected with adrenaline, while old players sigh by the side saying, “Don’t catch the last baton.” And it made me think: isn’t this exactly like us watching the liquidation line? We clearly know the risk, yet we still insist on gambling for that one burst of courage. Anyway, I’ve learned my lesson. If the liquidation line is three steps from the red line, reduce your position first—don’t wait until the red line steps on your foot before regretting it. Low exposure is the way to go; everything else is just clouds.