I’ve realized that my biggest mistake is: when spot prices rise, I want to cash out immediately, ending up selling too early; when contracts shake, I want to leverage up to even out, but a single spike has already taught me a lesson. To put it simply, position management boils down to one thing: don’t use the same money to satisfy both the desire to make quick profits and the fear of losing money.

I now divide my positions into three simple categories: long-term holdings that I ignore, no matter how much the price fluctuates; tactical positions that only involve spot trading—use them to tinker, and even if I lose, it doesn’t affect my sleep; contracts are just tools—keep the position small enough to admit mistakes, set stop-losses in advance, and avoid tough talk during the moment. Recently, Layer 2 projects have been noisy over TPS, fees, and subsidies, which reminds me: no matter how loud the narrative, don’t treat your positions as votes.

Next time, I’ll first write down “the worst possible loss for this trade” before executing… How do you prevent yourself from adding to positions recklessly during volatility?