Any method of making money has a shelf life. The arbitrage opportunities that work today might disappear tomorrow. Either the price difference vanishes, or a more convenient tool is discovered. By then, I might scale back or even completely change my approach.

But the experiences during this process have left me with things far more valuable than the numbers in my account. It’s more like entering a training camp, where I was forced to learn three fundamental ways of thinking that can be applied not only in the crypto world but also across the entire investment field.

**First realization: Risk has a price**

In the past, I heard others say "high risk, high reward," but it was just talk, and I didn’t truly understand. Only through practical experience did I realize—

Want to leverage for bigger returns? Sure, but the cost is clear: higher liquidation risk, constant tension on health factors. The system won’t bother with words; it directly shows you the cost of doing so with data.

Want to avoid forced liquidation during a sharp decline? That’s possible too. But you’ll either absorb the slippage losses or need to add margin, with opportunity costs right in front of you.

In this mechanism, every decision aimed at improving efficiency corresponds to a clear risk ledger. Over time, it develops into a conditioned reflex—before operating, ask yourself: what is the risk cost of this ledger? Can the potential gains cover it? This way of thinking is truly priceless.

**Second realization: Complex systems require patience**

DeFi protocols are complex monsters, a blend of code, economic incentives, and human nature—completely different from the simple operations of a bank app. Here, you’ll face various challenges—network congestion, slippage, interest rate fluctuations, and even contract risks.

The key is to learn to coexist with this complexity, rather than trying to escape at every problem. True experts are those who can see the risks clearly without being scared away.