Honestly, it’s pretty interesting—lately I’ve seen a lot of people saying they can’t hold spot positions, and that futures keep getting liquidated. In fact, the core of position management, in plain language, is just one sentence: **If you can’t hold it, it’s because you’re over-allocating; if you get liquidated, it’s also because you’re over-allocating.**

I’m not trying to dodge you—think about it: isn’t it every time you get itchy and want to add more, you silently tell yourself, “This time it’s steady”? And then what happens is this: once the market just shakes a little, your position is already too big, you start panicking, and you end up cutting at the lowest point. Why do I get itchy? Put simply, it’s not because my judgment is that precise—it’s because **I want to prove I’m smarter than others, and get that first spoonful of soup early.** But that kind of “smartness” usually gets people killed.

Recently, there’s also been a lot of buzz about rate-cut expectations, and discussions that the US dollar index and risk assets move up and down together. Anyway, everyone’s betting on a turning point—yet I think at times like this, doing less and watching more is better than anything. Don’t chase the trend until the last second; that spoonful of soup often comes with poison.