I've performed the classic routine again these past two days: when spot prices go up a little, I want to sell; when futures get excited, I want to add more; in the end, either I can't hold on or I get wiped out... To put it simply, position management boils down to one sentence: first figure out the maximum you can lose, then decide how much you can buy. Don't use "I feel it will go up" as your plan.

Recently, everyone has been interpreting ETF capital flows, the risk appetite of the US stock market, and the rise and fall of coins all together, which seems to make sense, but when emotions come into play, it's easy to get itchy hands. Forget it, to put it plainly: treat spot trading as slowly accumulating cat food, and don't let a dip affect your sleep; treat futures as rolling the dice, and keep your bets small enough that even if you lose, you can still eat. If you can do these two things, it's basically not easy to blow up.