Just saw an article saying some exchange’s cold wallet had unusual activity, and a bunch of people started shouting “smart money” and rushed in. I immediately closed that page, thinking: bro, isn’t this just changing addresses and re-sorting assets? Every time the K-line jitters a bit, people interpret it as “it’s time to pump.” Honestly, it’s better than staring at the dust—those few cents—in my own wallet.

Back to position management: my own painful lesson boils down to one sentence: **“Don’t let the money you enter with turn into a Buddha—only offerings remain in the end.”** Put it in plain words: the principal is your real dad, and the profit is your father-in-law. Opening a contract position is like going to a casino to buy in—if it blows up, don’t go asking the casino for a refund. I tried holding spot but couldn’t stick with it; I tried contracts, and ended up getting liquidated instead. In the end, it all came down to not being able to resist wanting to all-in and go all the way—then after the last trade, I couldn’t even pick up the dust. Now I keep a “mental comfort fund” in spot—treat it as if that money is already gone. That way, at least when I get liquidated, I can still laugh and tell my friends: look, I paid another round of tuition.