I’ve found my problem is pretty typical: whenever spot prices rise, I want to take the profits; when the futures pull back, I stubbornly hold on; in the end, I either sell too early or get forcibly liquidated… To put it plainly, it’s not that my judgment is bad—it’s that my position is too reckless. My plain-language management rule: first assume you’ll misread things, then decide how much you can afford to be wrong. Lock in your maximum loss in advance (based on money, not feelings), then work backward to determine your position size—don’t start by firing all your bullets right away. Anyway, I’d rather miss the move than get up in the middle of the night to top up margin.

I ask myself: why do I always want to add to my position to win back the losses?
Answer: because I treat my pride like my position size— the more I refuse to accept it, the easier it is to get wiped out.

Recently, the whole fight about NFT royalties looks pretty similar to trading, too: creators want stable income, and the secondary market wants liquidity… both sides aren’t wrong, but whichever side you choose, you have to accept the cost. Trading is the same: if you want stability, don’t chase the excitement; if you want excitement, be ready to pay tuition. That’s all for now.