#数字资产市场动态 Your trading lifespan depends on what? Many people say it's technology or luck. Actually, they're all wrong—the real determining factor is position sizing.

Don't misunderstand; position management isn't just about "how much money to invest." What's its core? It's mindset.

Imagine this: you go all-in with full position, and then a huge bearish candle appears, pushing the price down close to your psychological bottom line. Can you still analyze calmly at this moment? Most likely not. Fear and frustration hit you simultaneously, and subsequent actions are basically doomed—adding to your position, moving stop-losses, sinking into a quagmire. This combination is hard to avoid.

But what if it's just a small position? Losses aren't life-threatening. If your logic is sound, keep watching; if you really need to stop out, it won't hurt to the bone. The most critical thing is—your mind remains clear, and your judgment doesn't distort.

Ultimately, there's a simple formula: Emotion → Mindset → Behavior → Result. The most honest causal law in trading.

My personal habit is to make important decisions after 2:30 PM. Why? Because by then, the market's strength or weakness is basically laid out. Looking back at the morning, mistakes are astonishingly numerous, and the root cause is one word—**抢** (rushing). Rushing into the market, rushing to make moves, rushing to prove you're right.

What actually helps you make fewer mistakes is slowing down. Slowing down can help you avoid more traps. Often, slow is the fastest speed.

Therefore, position management is essentially risk management and emotional management. No technical indicator can replace it. The smaller your capital scale, the more you need to understand this—big funds can burn money trying, but you can't afford to lose every penny.

Position sizing is a strategic decision; technical analysis is just a tactical tool. When you integrate position management into every trade, and your mindset is steady, your operations naturally won't change. This is the underlying logic for long-term survival.