The most important thing in trading is risk management: The foundation of risk management is position sizing, followed by stop-losses on each trade. Position sizing determines how often you enter the market; stop-losses reflect your trading discipline! I’ve been saying this recently: never envy others when you see their winning trades—instead, observe how they manage risk! For example, my decision last Friday to fully exit the A-share market was itself a risk management action taken in response to perceived risk. I’m using this risk management move to show you that the market currently carries risk—not because you see other influencers still making profits and your mind is stuck on endless trading-for-profit cycles! Only when real risk strikes will you truly understand how painful it is to trade without proper risk management.