Managing your chips in a live setting is about staying mindful of your stack size in relation to the blinds and the pot. It's essential to avoid unnecessary large bets that could put your stack in jeopardy, especially when you're not holding strong hands. Being aware of your position at the table and adjusting your bets accordingly helps control the pace of the game and keeps you from overcommitting. Additionally, pacing your chip usage allows you to stay flexible, building your stack when opportunities arise while conserving chips during less favorable situations. This mindset helps you remain in the game longer and adapt to changing dynamics.