Many people feel that position management is the top priority in trading, but this is not the case. If your trading logic itself is flawed, even with top-level position management skills, you will ultimately incur losses, just at a slower pace.

Of course, this does not mean that position management is unimportant. If your trading logic has a positive expectation, but due to inadequate capital management, your account goes bankrupt before the profit realization period, you still cannot achieve profitability.

A complete trading system must include both trading logic and capital management: trading logic is like the forward, responsible for actively 'charging' to capture profits; capital management is like the defender, taking on the 'defensive' role to control risks. The two complement each other, and without either side, it is difficult to stand firm in the trading market.#特朗普新全球关税 $BTC