#比特币与代币化黄金对比 Contracts are playable, but don't go all-in without understanding the rules

Many people in the community choose to trade contracts, which is fine in itself. The problem is, if you jump in without clarifying the game rules, the first lesson the market will teach you is often a liquidation.

To put it simply, contracts are a directional bet: going long if bullish, going short if bearish. You don't need to actually buy coins; you profit from the price difference within the volatility. It sounds simple, but the pitfalls in actual operation are countless.

**Two Main Types of Contracts**

The common types of contracts in the market are: perpetual contracts (no expiration date, linked to spot prices via funding rates) and delivery contracts (with a clear settlement date, closed at the settlement price). Most beginners only deal with perpetual contracts.

But understanding these terms isn't the real point. The truly critical issues are the following cognitive gaps:

**Leverage is not an ability booster, but a risk amplifier** $SOL $BNB

It can indeed magnify your gains, but it can also multiply your losses. A 10x leverage sounds tempting, but a 10% adverse price move can wipe out your margin. Greedy beginners aiming for high leverage are the fastest to get wrecked.

**Position management and stop-loss are life-saving rules**

Before opening a position, think clearly: how much am I willing to lose at most? Then set your stop-loss strictly according to that number—no mercy, no hope for a rebound.

**The choice of coin determines the sense of volatility**

Mainstream coins like BTC and ETH tend to have more predictable patterns. Those small coins may seem volatile and lucrative, but they are actually traps, very easy to be crushed by a dump.

**Trading hours matter, especially at night**

Market liquidity late at night is often poor, and price swings can become larger. For beginners, resisting risk during these times is asking for trouble.

**What helps people survive**

While the contract market can generate profits, those who truly survive long-term are not brave just because they are bold; they rely on strict discipline, professional risk control systems, and a respectful attitude towards the market.

The sequence of walking this path is crucial: first learn how not to lose money, then think about how to make money; first use small amounts to feel the market rhythm, then consider increasing your position.

Treat contracts as tools, not gambling tables, and your trading career will go further.