Bull markets rely on faith, while bear markets rely on discipline. The volatile market relies on position management. The current market trend: BTC is repeatedly grinding within a relatively clear range, with billions of dollars worth of clearing intensive areas waiting for both up and down. The semiconductor industry in the US stock market has just undergone a day of bloodshed. Da Mo's issuance of ETP is positive in the long run, but in the short term, market sentiment is weak and the positive news has not been realized. At this point, what you want is not to predict the direction - it's how to live until the direction comes out. The position management framework I use consists of four steps: Step 1: Reduce leverage first. Check all positions. The contract has been reduced to less than twice its original value. Reason: The clearing map shows a huge amount of clearing piles in both directions. Once triggered, there is a high probability that the pin will be inserted. High leverage will die on the needle. Step 2: Configure defensive positions. At least 30% of assets should be exchanged for stablecoins to earn interest on the platform. Aave、Compound、 Flexible wealth management from exchanges is also acceptable. Not for the 3-5% profit. It's for you to have bullets to search the bottom and also control the retreat. Step 3: Place orders at key positions without monitoring the market. If the oscillation continues, connect in batches near the lower edge and decrease in batches near the upper edge. Limit order, don't chase the market price. Remember, even if you are in a range, don't exceed twice the leverage. The clearing area is the fishing area - the bait is someone else's storage space, and the hook is your patience. Step 4: Do not touch counterfeit narrative coins. AI concept and computing power narrative - If the AI sector in the US stock market continues to be under pressure, these high beta coins will be the first to be abandoned by funds. If semiconductors fall like that, encrypted AI concept coins will only suffer even more. Don't burden the market. Who earns faster in a bull market. Who loses less in a bear market. Who has bullets in the volatile market.