I realized that my biggest problem before was: when spot prices go up, I want to run; when futures pull back, I want to hold on; in the end, I either miss out or get liquidated... To put it simply, position management is just one sentence: only take positions that let you sleep well at night. I divide my spot holdings into several parts and place orders gradually, not chasing to buy; futures are even more cautious, don’t overleverage, set stop-losses in advance, or you won’t have time to react when the market suddenly moves. Recently, everyone has been comparing RWA with U.S. Treasury yields and on-chain yield products, I also look at them, but the more I look, the more I feel you shouldn’t be fooled by “seems stable,” because no matter how on-chain products are packaged, the risk is still the same on-chain. Anyway, I love to cancel and re-place orders on rainy days, preferring to earn less than to get wiped out all at once.