
Earlier this month, more than 100,000 traders were liquidated in a single day. I’d bet most of them had a decent read on the market. Bitcoin had been stuck in a range for a week, and plenty of people expected a breakout. What wiped them out was size. When a position is big enough, a normal pullback becomes fatal. You never get to find out whether you were right because the market takes you out first. This is the least exciting part of trading, but the one that matters most. Before any entry, ask how much you lose if your stop gets hit, and whether you’d shrug that off or lose sleep over it. If one bad trade can ruin your month, the trade is too big.











