Story begins:

In mid-last month, I deposited $200. Until yesterday, it reached $1,000. I genuinely thought I had figured it out. This morning, with a heavy position (20%/10❌), I lost more than $100. I hated the drawdown. So I cut to half the position, 10❌, and kept going—thinking that this time, I absolutely had to earn it all back, plus interest. Alright, not surprisingly, this round hit a loss. After two trades, I was down by half.

Climax:
This time, I really got carried away. I know what to do probably won’t turn out well, but I still went in—full position, 10❌. Neat, another loss. I was left with only $200. I wasn’t willing. Extremely unwilling. This time, I directly added $800—full position, 10❌, all-in. If it doubles, I’ll definitely get out! As expected, I kept hitting losses with full position until the end, and I was left with just $200. Looks like I really need to calm down for a bit. For now, I’m stepping away from slamming the table.

Review: Actually, at the very beginning and in the middle, I had chances to run. But I kept thinking I had to go back to 1,000u. Even though I believed the trend I thought was over had ended, I still added to the position to lower my cost. That gave me a chance to run, but I didn’t. I just wanted to take a little profit and then run. In the end, I could only get trapped—cashing it all in, paying back with both principal and interest.

Reflection: The reason I was able to make money before was because I strictly controlled my position size (10%/10❌). Sometimes I might add, but that’s rare—only up to 20% in very few cases. And when I could clearly feel myself getting carried away, I would rein myself in. I wouldn’t use a big position to bet on a one-line chance to break even. I’d still stick to the position size that felt comfortable for me, and keep doing it slowly. In the end, it always turned out well.

I’ll definitely come back to this table. Two weeks from now, I’ll come back with $1,000 and return to the table. This time, I’ll strictly follow it:
1. Single-position size no more than 20%/10❌.
2. If I hit a loss, I leave. No overattachment, no hesitation. I won’t break the trend to keep averaging down and keep hitting losses in a row.
3. I can accept at most a 10% drawdown per day. Once there’s a drawdown, I’ll stay calm. I won’t get flustered and keep opening positions.#
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