I’ve found that many people (including myself before) can’t hold spot positions, and they’re always itching to double down with perpetual contracts. The result is this: on the one hand, you’re afraid of missing the move; on the other, you’re afraid of getting liquidated—your mindset ends up being dragged around by the market. Put simply, position management boils down to one plain truth: first leave yourself the “portion you can sleep soundly with,” and only then talk about execution. Don’t shove all your capital into spot at once—split it into several parts and go step by step. With contracts, it’s even simpler: don’t treat margin as principal. Only use the amount of money you can accept losing down to zero; otherwise, volatility will teach you eventually.

Recently, big on-chain transfers and any movement between exchange hot and cold wallets get interpreted as “smart money.” I get tempted too, like I want to chase it—but if I stay calm and think it through, those transfers aren’t necessarily buys or sells. They could just be moving assets… As a liquidity provider (LP), I’m honestly better suited to just hold steadily and collect a bit of trading fees, let the market演 whatever it wants to演—survive first, then we’ll talk.