I recently learned a lesson again: when spot prices rise, I want to sell; when contracts move in a reverse wave, I want to hold on; in the end, either I miss out or get liquidated. To put it simply, position management boils down to one thing—only hold positions that you can "sleep well" with. The part you can hold onto as if it doesn't exist, even if it drops, won't affect your life; the part you want to gamble on, admit upfront that it might go to zero, and set a stop-loss level before entering the trade. Once triggered, don’t argue with yourself.

Now there's talk outside about certain regions increasing taxes and tightening regulations, and when deposit and withdrawal expectations change, emotions are easily manipulated. My simple approach is: if unsure, reduce your position, keep some bullets for “waiting until you understand,” rather than missing out entirely, I’d rather do that than risk liquidation to regain clarity… for now, that’s how I’ll do it.