#市场流动性状况 The recent行情 in precious metals is a classic liquidity trap. Silver prices dropped over $7 in a single day, and gold fell by 4%, appearing fierce, but essentially it’s due to the poor trading environment at year-end and market makers pulling back.

The key point is—when the market is driven by emotions and liquidity is severely lacking, price fluctuations are exaggerated. Retail traders chasing highs become cannon fodder in such an environment. I recently reviewed the performance of several copy traders during this adjustment and found that those who consistently profit have done three things in advance:

**First, reduce position size.** Not completely close out, but lower the copy trading allocation for precious metals from 15% of total funds to below 8%, acknowledging that they cannot precisely control in a low-liquidity market.

**Second, set more aggressive stop-losses.** Usually, stop-loss might be set at 2%, but in this environment, it’s directly adjusted to 1% or 1.5%. Better to be swept out multiple times than to get trapped in an emotional market.

**Third, wait for real opportunities.** Some experts simply observe and wait until liquidity recovers and market sentiment cools before re-entering. This may seem conservative, but looking back at account curves, it’s often more stable than frequent trading.

Currently, precious metals are indeed on the edge of a cliff, but for copy traders, this isn’t a signal to bottom fish; it’s a reminder to reassess your risk exposure. Practice makes perfect—this round of adjustment will teach you a lot.