Fund Management, Four Key Principles:
1. Always set a stop loss after opening a position; make it a habit. You must set a stop loss when opening a position; never think you are hedging or hold any false hopes. If you can still be stuck in a position or face a margin call, it's only a matter of time before you will.
2. The stop loss amount for each position should not exceed 2% of your total capital (based on your own risk tolerance; I recommend starting at 1%. Once you can consistently profit, you can adjust this according to your risk tolerance).
3. Strict stop loss: if total capital losses reach 30%, exit unconditionally and close your positions immediately.
4. If you forget to set a stop loss, close your position immediately upon realizing it. Never expect a rebound before closing, or think about averaging down to cover losses; almost all successful traders have failed in this regard. You might withstand this 10 times, but if you can't handle it just once, those previous 9 times will be worthless.
5. For initial learning, I do not recommend adding to positions; stick to a fixed position size each time.