I realize that my biggest problem in the past wasn't choosing the wrong coin, but having a "reckless" position size: when spot prices rise, I fear a pullback and want to sell; when they fall, I’m unwilling to add more; futures are even more outrageous, even if the direction is correct, I can get washed out by volatility. To put it simply, position management is just plain language: use the money you can sleep soundly with to place orders, and don't touch the rest.

Now I split my positions into several small parts, only holding the amount of spot I’m willing to ride the roller coaster with, and only using the smallest leverage for futures, first thinking about the worst-case loss I can accept before opening a position. Recently, I’ve been talking about rate cut expectations, the dollar index, and risk assets sometimes rising together and sometimes falling together… Anyway, during times like these, I dare not get carried away, slow and steady is fine. (Even slugs have their dignity.)