How important is it to strictly control leverage and positions, and to strictly take profits and cut losses?

I often reflect on this myself. In fact, whether a person can consistently make money is not really about their win rate or profit-loss ratio.

The biggest difference between consistently profitable traders and retail investors is:

Those who consistently make money always seek profits with the smallest risk, and they accept failure calmly. They do not hold onto losing positions or revenge trade.

Retail investors always dream of getting rich overnight, impulsively go all-in with heavy positions, and when they make mistakes, they are unwilling to cut losses. Emotional trading + heavy positions + holding onto losing trades are the three deadly swords that lead to liquidation and losses! We must take this as a warning!