I promised to write an article on position management earlier, but I haven't had time until now to make up for it. After trading U.S. stocks for a while, you'll realize a harsh truth: what often ruins an account isn't stock-picking ability but position management skills. I'm sure you've heard this line many times: 'Can I still chase this one? Should I average down on that one?' But the real question should be: At this price, how much are you willing to risk to test the waters? If you're wrong, how much can you stomach losing? 1. The underlying logic of position management Going all-in is thrilling, but it essentially bets years of future opportunities on the fantasy that this one trade must be right...