Lately I’ve been mulling over position management, and I found that one sentence works better than any formula: **“When your position is so small it hurts, you can hold it; when your position is so big you feel like charging in, just wait for it to blow up.”**

To put it plainly, you can’t hold spot because you always want to “buy a little more, buy a little more.” Once your cost rises, a dip makes you panic. Perps are even simpler: when you go all-in, your head has already exploded along with the contract.

Recently I’ve been looking at social mining and fan tokens, and I can’t shake the feeling that “attention is mining” is a bit questionable. You put your attention in, but where is the mining? It’s like an air drop: the ones who believe first get the meat, while the ones who believe later even have the pot taken away. Anyway, as a small retail trader like me, I’ll first keep my position at a level where I can sleep soundly, and only then think about watching the excitement.

For now, that’s it—I’m going to check the newly released privacy protocol audit report.