It is often heard here that a friend wants to use "locking positions" to protect his lost positions, because this is a problem of fund management and risk management, which is related to the survival of Huimin in the market, so we should take it seriously. My starting point is that "lock warehouse" is called "Texan-hedging" in professional circles, which means "hillbilly hedging", and professionals will laugh when they hear it. Why can't we use something we'll never use? Because the so-called "lock position" means to close the position. Originally, if it goes up or down, it should stop or stop/turn around. But in order not to pay the minimum stop loss, it is brave to decide to "lock the position". In the operation of the market, the so-called locking process is the process of closing positions. Not only that, this "locking position" will bring more disastrous consequences. The question of when to close these two positions adds more trouble to the original simple question, because no mortal can know exactly where the bottom or top is. If someone says that he can accurately predict the top or bottom, it must be that he has not participated in actual combat experience in the market for more than ten years, and he has made a fortune by blowing it around and solved the hedging problem of this hillbilly. More importantly, since there are two opposite directions, you are even more vague about the market. Completely disoriented, at the mercy of the market, all your funds are captured by the market, which is very passive. Even if the best opportunity comes, it is very passive. This is why the simple question of stop loss has brought you disastrous consequences. The word "lock warehouse" must not exist in the dictionary of successful investors. It is possible to look at different directions with two options in the option market hedging, but this hedging with hillbilly is different.