Recently, I have clearly felt that the profit margins have been compressed. First, there are indeed more participants, and second, the overall market interest rate environment is also adjusting. At the beginning of the year, casual operations could yield a pure profit of a dozen points, but now it takes effort to maintain ten points.

This makes me reconsider—should I continue playing like this? Considering the time, effort, and risk involved, an annualized return of less than ten points is honestly not very cost-effective. Instead of wasting effort like this, it might be better to move this part of the funds into more worry-free allocations.

But I haven't completely exited either. I kept a very small position to continue running, mainly to stay in sync with the market rhythm and avoid being a rookie. My idea is that if one day the market sentiment crashes again and borrowing rates rise accordingly, that would be a good time to add positions. Currently, it's more about observing more and operating less; waiting itself is also a strategy.