#美加贸易谈判破裂加拿大誓言反制 A market-making friend told me that his client’s ETH long position got liquidated for a 400k u loss yesterday. The average entry price was around 2480, leverage was 5x, and the stop-loss set at 2410 was basically useless—during the selloff around 2:00 a.m., price broke straight through and wicked down to 2385 before bouncing back up. Today he asked me whether I want to flip and go short; I told him I won’t. My ETH spot position is 30%, average cost around 1720; it’s currently 2430, so I’m up about 41%. But this week I moved my stop-loss level from 2100 up to 2260. As long as the structure hasn’t broken, I won’t move. OI/MC is already 10.76%—that’s the number I’m most wary of. The heavier the order book gets, the direction doesn’t necessarily follow; it only means that when leverage is liquidated, the liquidation will be harsher. You can be wrong, but you can’t afford to be wrong in how you manage risk. Take the cost basis you hold, and adjust your strategy accordingly—don’t let someone else’s liquidation drag you into the wrong timing. Not investment advice.