The challenge of position management lies in the certainty of decision-making:

How much should I reduce my position?

If the market falls as expected,

you may wonder whether I should be more aggressive;

If the market rises, you may regret reducing your position.

Human emotions are complex and can easily affect decision-making, leading to irreversible losses. Therefore, the key is to follow the trend of the big cycle: do not reduce positions in a bull market, and increase positions at the right time; by 2025, at the end of the bull market and the beginning of the bear market, start reducing positions and never look back. The difficulty of investing lies in how firm your belief in your own judgment is.