I tend to see complexity as an enemy: position management boils down to one sentence—allowing yourself to sleep soundly even on the worst day.

If you can't hold spot, it's probably because you bought too much, and a small dip makes you doubt life; for futures, getting liquidated is even more direct, leverage just waiting for the market to teach you a lesson. My simple method: first, set a hard limit on "how much you can lose," then work backwards to determine how much to buy; if it's not enough, don't force it—it's better to miss out.

Recently, there's been a lot of talk about ETF capital flows, and along the way, discussions about US stock risk appetite bouncing with the crypto market. After reading, I just want to say: no matter how lively these interpretations are, they can't help you set your own stop-loss line. Anyway, I prefer small positions to survive a few more days, rather than going all-in and then playing detective during the review... I've seen too many exit timelines. Don't copy me.