For the past ten years, the most common excuse I've heard for liquidation is "bad luck." Honestly, I don't buy into that.

The real reason boils down to two words: can't roll.

I've seen several typical ways people die in trading. Some rush to exit as soon as the market moves up a little, only to see it soar and watch their profits fly away. Others have the right direction but panic at a 5% pullback and get shaken out. Still, some keep adding on dips, only to accumulate heavier and heavier positions, until the final acceleration wipes them out completely. This isn't trading; it's gambling.

Experienced traders who have survived until now think completely differently. Their first thought isn't how to win, but how to survive.

Most people's understanding of rolling positions is simply adding to floating profits and then going all-in. Frankly, that's just giving money to the exchange. My approach is this—

Start with small positions to test and learn, with very tight stop-losses, and exit immediately if wrong. Only when the direction is truly confirmed do I use profits to add to my position, never risking my principal. The clearer the market, the more relaxed my position; once it starts to wobble, I stop immediately.

In major trends, floating profits can grow quickly and soon surpass the principal. But at that stage, I become even more cautious. The first thing I do is "insure" my profits, rather than continue to trade recklessly.

Many people see how many times others have multiplied their gains but fail to notice how others protect those profits amid ups and downs. In the same market, some double their money, others get wiped out. The difference isn't about whether they saw the right trend but about how they managed their positions.

The futures market won't reward your courage; it will only follow the rules strictly. When you truly understand when to lighten your positions to explore, when to use profits to amplify, and when to hit the brakes, that's when you've truly entered the realm of rolling positions.