Position management is the only defense against being "swept away in one wave"



Never hold a large position in a single trade
If you're wrong, only lose a small amount, won't cause serious damage
The market proves you're wrong, admit the loss immediately

The key to growing a small account is:
Don't expect a single trade to double
Use time to buy space: small positions, repeated trades, let profits accumulate
Protecting the principal is the top priority: if you lose 50%, you need a 100% gain to recover
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