#美国贸易赤字状况 $PIPPIN Dear friends. Long-term losing traders are mostly not because they can't read the market accurately, but because their accounts have unknowingly gone through a round of blow-up.

I once met a fan who used to follow trading signals with zero deviation in market judgment, correct structure, correct direction, and correct rhythm. But in the end, he still lost money and exited.

Later, after talking, I understood—when the market had a 3% minor pullback, he cut all his positions in one go. His mindset completely collapsed. As a result, the market turned around and surged, and he could only watch helplessly.

At that time, I asked him one question: "Are you really losing because of this wave of market movement?"

The answer was very clear: it's the position size that lost.

What separates profitable traders from losing traders is not chart analysis ability, but the execution of position management. My own trading framework is very simple, but uncompromising in implementation:

**Use trial positions to test the waters, never go all-in at once.** Start with 10%-20% of your funds to explore the direction. If correct, consider adding more; if wrong, immediately change course. No emotional trading, it's that simple.

**Build positions gradually, always reserve bullets.** The market won't give you the best price, and I never delude myself otherwise. If you can eat 60% profit in a trend, be content. Leave the rest for the next opportunity at a lower price.

**Ask yourself three questions before each trade.** How much loss will make me want to exit? Is there room to add positions? Will adding positions squeeze out other trading opportunities? If you can't answer one of these questions clearly, I prefer not to take that trade.

**Different timeframes have their own paths.** Short-term positions do short-term things, swing positions follow the swing rhythm. Mixing them together? Your account will only be a matter of time before it gets wrecked.

There's a common illusion in the crypto world: as long as I get one correct market judgment, I can turn my fortunes around.

But the reality is different: **Only by staying alive do you have a chance to wait for that one.**

After so many years of trading, what has truly stabilized my account is not a single big win, but never being knocked out by out-of-control positions.

One thing I want to say to everyone: market rises and falls determine how much you earn, but position management determines whether you can keep earning.

Keep your positions intact, and only then will you have the confidence to interact with this market long-term.