When I first entered the space, like all new rookies, I had $8,000 USDT and wanted to make a big move. High leverage, heavy positions, dreams of getting rich overnight—this combo was unleashed, but what happened? Half of my position was wiped out in 15 minutes. The glaring red numbers on the screen completely shattered my fantasy of turning a bicycle into a motorcycle.

That night, I stared at the candlestick chart until dawn. How much I lost was secondary. The real fear was suddenly realizing: in a market that can fluctuate over 10% in a single day, high leverage is like dancing on the edge of a cliff. There’s no way back.

Later, I looked at the data, and over 90% of liquidations involved small funds using high leverage. It’s no coincidence. Crypto futures offer up to 125x leverage—calculate how much higher that is compared to traditional financial markets. In other words, $1 controls a position of $125; if the price drops by 1%, you’re out.

I have a friend who personally experienced what despair looks like during the LUNA collapse. He stubbornly held on, refusing to close his position, convinced it would rebound. 48 hours later, the price dropped from $80 to $0.0001. His account hit zero, and he almost collapsed emotionally. Stories like this happen every day in the crypto world. Just in the first week of 2025 alone, the global crypto market’s liquidation volume exceeded $3 billion.

The market never cares about your dreams. It only rewards those who respect the rules and hold reverence. Stop-loss when needed, control risks when necessary. Living is always more important than making money.