Here's a painful truth: Many people get liquidated not because they can't read the market, but because they never thought about "where to run."

Before buying - note that it's "before buying", not waiting until you are watching the K-line jump with a position in hand - you must first set a clear exit point. At this moment, you have no chips in hand, and your mind is the clearest, so you won't start self-hypnotizing due to unrealized profits or losses. Remember: if you haven't set a stop loss, don't start buying. This is the 0th rule of trading.

What about after opening a position? Your job is not to panic and follow the market's ups and downs, but to watch if your selling point has been triggered. Has it surged? Is it stagnant? Then take profit and leave. The profit-taking point can be adjusted flexibly, but the stop-loss point must be a hard rule—once triggered, don't make any excuses for yourself; cutting losses means cutting losses, and then prepare for the next round. This cycle repeats for each round.

Don't underestimate this "making a cut" action; it can help you avoid getting liquidated and minimize drawdown when a black swan event occurs.

Someone asked: What should I do if I keep getting stopped out? The root of the problem is not "whether to stop out or not," but "why do I keep getting stopped out"—either the entry point is poorly chosen, or the market environment is simply not suitable for entering. You need to look for reasons in position management and entry timing, rather than stubbornly holding on without stopping out.

This reasoning seems simple, right? But it can filter out who is suitable for trading. Those who truly understand and execute it properly will experience a qualitative change in their trading ability. Unfortunately, most people can't get past the stop-loss hurdle in their entire life.