Excellent Position Management

Position management is quite crucial, as it is an essential tool for controlling risk and reducing drawdowns. So, how can we effectively manage positions?

First, one must analyze their trading model and see if the current market aligns with the trading conditions within that model. If there are more factors that do not match, then the position must be kept as small as possible. Especially when one cannot understand the market, it indicates that there are no trading opportunities within the model, and at this time, one must choose to stay out of the market and patiently wait for the right opportunity to arise.

If everything aligns with one’s model, then one can muster confidence and take a bold step.

If one has not even established their trading model yet, then it’s better not to talk about position management. Instead, one should explore and refine their skills using capital that does not significantly impact their daily life.

Never be impatient thinking about getting rich overnight; otherwise, gambling everything might lead to total ruin!$DOGE