Staring at the screen until my eyes are dry, but I still can't help but add to my position: When spot prices pull back, I want to run; when futures get emotional, I open big positions. The result is either selling too early or getting wiped out... Honestly, position management boils down to one thing: first define the "worst-case scenario," then talk about "how much you might earn."

Right now, I basically only hold the amount in spot that I can sleep peacefully with, and if it drops, I act like nothing happened; if I want excitement, I use very small futures positions, losing it all as a tuition fee, and I absolutely won't use margin calls to gamble on a turnaround.

Recently, the NFT royalty disputes seem quite similar, with creators wanting to take more, and traders complaining about liquidity being blocked. Neither side is entirely wrong, but you need to first figure out which side you're on and what rule changes you can tolerate. The market is the same—don't use one mindset to handle two different positions; anyway, you'll understand after one blow-up.