In this market, what truly determines how far you can go is often not some magical indicator or insider information, but how you manage your position.

Many people think that position management is just about not buying too much, but in fact, what it really controls is your emotions.

Imagine a scenario where you are fully invested and encounter a crash; your heart races, your palms sweat, and all that remains in your mind are "averaging down" and "breaking even"—at that moment, rationality has quietly exited.

If you only use 10% of your position facing the same downturn, you might feel that "it doesn't seem that serious," and you can even calmly judge whether to continue holding or to cut losses in time. The difference between the two does not lie in the market itself, but whether your position still allows you to think.

The most dangerous thing in the market is not the loss itself, but the chain reaction triggered by emotions being ignited. Anxiety leads to panic, panic leads to mistakes, and mistakes continue to compound. Once trapped in this cycle, your account will only get lighter.

Those traders who can survive in the long term will always take "slow" as their first principle. My personal habit is to wait until the afternoon, or even later, to make key decisions because by then, the day's strengths and weaknesses are clearer—whether it's a true breakout or a false signal.

You will find that most losing trades stem from the same word: rush. Rushing to enter the market, rushing to catch the bottom, rushing to chase news. As long as you are willing to slow down, you can naturally avoid 80% of the traps.

Remember this phrase: position is not a technical detail; it is the strategic foundation of your trading. It manages not only risk but also your mindset.

The longer you stay in this market, the more you understand that indicators and schools of thought may fade over time, but nothing can replace position management. When you truly grasp the concept of position, you will feel that trading is no longer tormenting you.

At that moment, you can consider yourself truly initiated. #加密市场观察