Woke up at 9 this morning and saw that SK was going up, up by 0.47% at the time. But the SKHYUSDT represented by ADR was dropping. In situations like this, I usually just give up. But after watching for a minute, I noticed SK was gradually declining. At that time, ADR was at $137.5, so I thought about either placing a short order at $138 or $140. After thinking it through, I placed a short order at $140 and went back to sleep. The second time I woke up was around 11 AM, and when I checked again, SK had gone from being up 0.47% to about 1.7%. I quickly canceled the $140 order since I only short and never go long. Then I went back to sleep again. When I woke up later, I found that SK had gone from rising to falling, and SKHYUSDT had dropped by 2.4%. I was a bit annoyed at first, but then I saw the price. After SK opened today, the highest price for SKHYUSDT was $139.95. Even if I hadn’t canceled the order, I wouldn’t have hit it anyway, which made me feel much better. So I still think that unless there’s a big drop, shorting ADR isn’t very efficient. PS: I also made a mistake that caused an ADR loss yesterday. First, I forgot the 8th was a weekend. I opened two consecutive orders at a high price, betting on a drop after the "next day" opening. Turns out the next day was the weekend, so I held them for two days for nothing. Then, early Monday morning before the market opened, I saw the price rising again and closed them at market price, losing less than 10%. As for today’s $140 short order, it canceled itself again. If I had held it until now, it would’ve been profitable. Of course, this is all hindsight. But because I stick to my rule of not holding positions overnight on trading days, my losses are minimal. Once I break my own rules, the drawdowns start to appear. @Gate Crypto, US stocks, Hong Kong stocks, Korean stocks, gold, CFD, prediction markets—all in one place for trading.