I’m the kind of person who, when spot goes up, wants to add; when it falls by two legs, I still want to cut. Futures are even more convenient—just get “educated” straight into liquidation. Later I gave myself a plain-sounding rule: don’t think about “holding,” think about “staying alive.” For spot, I only keep the amount where, if it drops, I still wouldn’t lose sleep; the rest I treat as if I don’t have any money. For futures, I treat it like smoking: take at most one puff—don’t turn your lungs into the position. Recently the funding rate is extremely abnormal again; in the group, people are arguing whether it will reverse or whether they’ll keep squeezing the bubble… Anyway, I don’t guess the plot—I just keep leverage turned down and put my stop-losses out in the open. I’d rather make a little less than wait for a black swan to crank up the pressure on me. That’s it for now.