Re: partial liquidations The question is - how much should you liquidate at once? Some claim that tiny partial minimal liquidations are superior. That's simply not true. The reality is that there is no correct close factor. It's all path dependent. The value depends on how the market path unfolds after the first liquidation is triggered. Two cases: - If the market keeps falling, larger partial liquidations (10%) are better. You liquidate more collateral *earlier* at a higher price. - If the market rebounds quickly, smaller partial liquidations are better because less collateral was sold on the dip and you retain more exposure. And that’s the point: you cannot know how the market will behave once a dip begins. Crypto markets are volatile and every drawdown looks different, which means there's no magic number and you can’t simply calibrate to past data. What matters is balance: - Too small and you risk "death by a thousand cuts". You keep selling the dip over and over and over. -...