Let's talk about position management—this is the key factor that determines whether you can survive long-term in the crypto space. Many beginners' understanding of position control only stays on the surface: "I invested this much money," and that's it. But true position management is actually about managing your emotions.

Imagine this scenario: after going all-in, a big bearish candle suddenly drops, even approaching the limit down. Can you stay calm at that moment? Honestly, most people can't remain rational. Emotions are instantly triggered by the market, and in a hot-headed moment, judgment becomes chaotic. The subsequent actions are almost out of control: either panic and cut losses, or gamble on holding with hope, increasing position size. The more you tinker, the worse it gets, and finally, you lose your principal and all your capital.

On the other hand, what if you only use 10% of your position? Honestly, it's not that scary. As long as your entry point isn't too high and the basic logic hasn't reversed, holding and watching isn't stressful; if you do need to cut losses, the loss amount is within an acceptable range. When emotions aren't running wild, your mindset stays stable.

There is a clear logical chain here: Emotion → Mindset → Decision → Result. Controlling your emotions allows you to respond rationally and gives you a better chance of achieving good results.

People who truly understand position management tend to have a very steady trading rhythm. One habit I’ve maintained for a long time is: only make important trading decisions after 2:30 PM. By that time, the market trend for the day is basically set, unlike the early session where fluctuations are frequent and hard to distinguish between real and fake moves. I’ve seen too many people lose money because of one word—"chasing"—chasing to build positions, chasing to close positions, always trying to prove their insight ahead of others. But in reality, slowing down can help avoid a lot of basic mistakes.

Remember: slow is truly fast. When you fully grasp and apply the logic of position management, you'll quickly notice the difference—your trading mindset becomes stable, no longer panicking due to market fluctuations, and your operations won't become distorted.

Don’t think position management is only useful for large funds. On the contrary, retail traders should pay more attention to it. It’s not only risk management but also mindset management; no technical analysis can replace this role.

At the end of the day, position is a strategic framework, and technical analysis is just an execution tool. If the strategic direction is wrong, no matter how beautiful the technical methods are, they’re useless.