Last night’s market was truly nerve-wracking! A bunch of coins were jumping up and down like a roller coaster.

The craziest was xny—first there was a vertical pump that wiped out all the shorts, then it immediately crashed down like a waterfall, leaving the longs with no escape either. In this kind of double-sided slaughter, honestly, whoever gets caught is just out of luck.

Luckily, I had hedged my positions, so I managed to withstand this round of turmoil. Otherwise, with how wild things got last night, holding a single position would have almost certainly led to liquidation. Sometimes it’s not that your judgment is wrong—the market just doesn’t give you any time to react. It’ll wick instantly and then reverse, not even giving you a chance to set a stop-loss.

At the end of the day, you have to stick to a few iron rules:
Never skip on hedging and diversification—that’s the real way to manage risk;
Keep your positions light to give yourself flexibility—going all in is a recipe for disaster sooner or later;
Notice something off? Cut half your position first, then reassess.

The market is always crazier than you think. Survival comes first.