If a contract account has no stop-loss setting, what will happen? Simply put, it becomes a "long-term blood donor" to the market.

I've seen too many stories of margin calls; they seem different on the surface, but the logic is the same. An account that once performed well can be wiped out in an instant due to a single stubborn position. People tend to blame market fluctuations, news impacts, or bad luck, but a closer review reveals—most zeroed-out accounts didn't lose because of the trend itself, but because of one word: stubbornness.

Not long ago, a trader encountered a normal technical correction. Because they didn't set a stop-loss, their account was wiped out immediately. I've seen this tragedy too many times and have become somewhat numb to it.

The key point here: many people's problem isn't that they can't make money, but that they can't hold onto it after earning it. An account that once grew steadily can be completely wiped out by a single psychological battle. I've experienced this myself—at that time, I kept replaying the same phrase in my mind: "Hold on a bit longer, it should rebound." But the market simply doesn't buy into that. It can tolerate multiple mistakes, but just one fatal error is enough.

The realization often comes too late: what can truly save you isn't your win rate, but your discipline with stop-losses.

Now, before each trade, I ask myself what the worst-case scenario is. If I hit my stop line, I exit immediately. The goal of trading isn't to make a big comeback in one shot, but to ensure you don't get wiped out in one move. After realizing some profit, I gradually move my stop-loss to lock in gains, so even if the market pulls back, the profits already earned won't be completely lost.

There's also an overlooked dimension—emotional stop-loss. After a series of losses, you need to step away from the screen and stay calm; after a series of big wins, you should cut your position and withdraw profits. When emotions take over, decisions made in that state often don't hold up upon review later.

Stop-loss isn't about giving up; it's a tactical retreat. Truly skilled traders don't claim they've never made mistakes, but they react quickly and exit fast when they do, and most importantly, they always keep their chips on the table.

Remember this: the market never lacks opportunities; what’s scarce is the capital that survives to seize the next wave.