Today I talked about trading with a new friend and found quite a few similarities and some points I hadn't considered before. The core is two things: 1. Absolutely do not increase your position when you're losing. 2. If a trade affects your sleep or health, decisively reduce your position or cut your losses. The second point is quite interesting; we both concluded that if a trade makes us restless and unable to sleep, it usually indicates that the trade is wrong. This excludes one situation, which is being too excited to sleep, that doesn't count. Making money is similar to long-distance running; those who truly achieve long-term profits reach a kind of singularity, after which every trade becomes effortless.