Last night's unexpected surge in Bitcoin, did those who went long definitely make a profit? The trading market continues to exist because the liquidity of funds is very strong, and only a small portion of people consistently make money; the vast majority either make small profits and incur large losses, or just break even.

Since Bitcoin broke past $80,000 and easily surpassed it, I knew there would definitely be room for growth, just not sure how high it would go. Last night's continuous strength was completely beyond trading expectations, resulting in significant unrealized losses. However, the trading strategy remains unchanged; I acknowledge if it really blows up!

Here, let me educate everyone on position management. I have mentioned several times in previous articles that position management is very important in trading. If you haven’t learned this point, trading is no different from gambling! Position management varies according to different individuals, different trading strategies, and different risk tolerance. For example, in my case, with $10,000, I would first take out $5,000 for trading, entering at three price levels in a 3-3-4 format. Generally, I can enter two price levels, and once I enter the third price level, it means I am heavily invested. At this point, I need to increase the margin with the remaining $5,000. If there is still no reversal, I have two more opportunities to add to my position, and the rest is just waiting for a pullback.

For example, in the current market, I have already added margin and made additional purchases. If there is another sustained rise, I will open a short position to raise the liquidation price. Once a pullback is confirmed, I will directly close the short position and continue to wait with the previous position until I make a profit.

Of course, some people prefer to take profits and stop losses, but if you don’t operate carefully, you may always be on the path of stopping losses, especially with Bitcoin's spike market!

The above is my trading strategy; perhaps you have a better way of managing positions, feel free to share in the comments. Of course, aside from position management, the first entry point must have a good cost-performance ratio; otherwise, subsequent additions will seem meaningless.

Bitcoin is currently in a crazy surge state, and the market is also in a frenzy. Any operation at this time will have no basis and can only rely on predictions. I am still strictly following the previous trading strategy, shorting at high points when they are reached, and I do not give trading advice; just follow your own strategy. By the way, do you dare to go long on Bitcoin at this moment?