你的加仓方式决定了你能承受多大的风险 Your method of adding to positions determines how much risk you can withstand

Most people get adding to positions completely wrong. You'll understand with one real example.
大多数人对加仓的理解完全错误。我举个例子，你就会明白了。

The tragedy of most people
大多数人的悲剧

Spot a good opportunity and go all-in → Full position before the trend stabilizes → Panic at the first drop → Cut losses and then chase highs. Every step is the opposite of what it should be.
发现良机后全力投入 → 趋势尚未企稳就建仓 → 第一次下跌就恐慌 → 止损后追高。每一步都与正确的方向背道而驰。

The right way: Let the numbers do the talking
正确的方法：让数据说话。

First batch: Buy 100 shares @ $100, cost $10,000
第一批：以每股 100 美元的价格购买 100 股，成本为 10,000 美元。

Stock rises to $150, unrealized gain $5,000. Key move—raise stop-loss to $140.
股价上涨至 150 美元，未实现收益 5000 美元。关键举措——将止损位提高至 140 美元。

Even if it drops back to $140, the first batch still nets $4,000. You've already locked in most of the unrealized gain.
即使价格回落到 140 美元，第一批产品仍然能净赚 4000 美元。你已经锁定了大部分未实现的收益。

Second batch add: Buy another 100 shares @ $150, cost $15,000
第二批追加投资：再买入100股，每股150美元，总成本15000美元。

Stock continues to $200. But what if it drops back to $140?
股价继续上涨至 200 美元。但如果跌回 140 美元呢？

First batch: $100→$140, total gain $4,000 (protected by raised stop-loss)
第一批：100美元→140美元，总收益4000美元（已提高止损位）

Second batch: $150→$140, loss $1,000
第二批：150美元→140美元，亏损1000美元

Here's the key point
关键点在这里

The risk on the first batch was already absorbed long ago. Now, the only real risk is the $15,000 on the second batch.
第一批产品的风险早已被承担。现在，唯一真正的风险是第二批产品的1.5万美元。

And so on—the later you add to positions, the less risk on prior holdings. Ultimately, the true risk in the entire portfolio is really just in the last one or two batches.
以此类推——越晚建仓，之前持仓的风险就越小。最终，整个投资组合的真正风险实际上只存在于最后几批建仓中。

This is the adding logic of the strong—exchange phased validation for certainty, trade stop-loss protection for greater boldness.
这是强者的逻辑——通过分阶段验证来确保确定性，通过交易止损保护来获得更大的胆量。