What often determines the outcome of a transaction is not how accurately you read the direction, but how much you lose when you read it wrong. Fund management answers the question of "how much bet to place": first determine the maximum single loss and then push back the position according to the stop loss distance, distinguish platform leverage and actual leverage, control the urge to spread losses and add floating profits, and set an upper limit for single-directional exposure to retain capital buffers, significantly extending the survival time in the market.