Emphasizing Safe Trading with Proper Position Sizing and Emotional Control

I fully endorse the previous post ⬆️, especially reflecting on the past eight years of my personal speculation with all my free money, excluding personal real estate. In such cases, this approach becomes critically important. The most vital factor is the size of the position relative to the total capital, as well as the possibility and duration of holding it, since your emotional state will mirror the size of your position. Instead of using the dollar drawdown method (like Larry's calculation), I use the annual expenses needed for a comfortable life where I live or plan to live in the near future. Breaking these rules on position sizing can lead to the biggest demon—the largest loss-making trade with a risk of bankruptcy. The primary goal is not to earn but to preserve and not lose what you already have. The universe and luck throw darts, and all you can do is create more targets. Feel free to contact me at https://t.me/MELASTIUBUD The wallet for donations to support the author: lovebali.near (USDT, USDC, or NEAR).