#比特币流动性 The truth revealed after liquidation:

Traders who don't set stop-losses are essentially the automatic ATM machines for the big players.

Those accounts that go to zero 90% of the time are either unlucky or lack the awareness of stop-losses.

A few days ago, a fan's account was wiped out directly. Here's a summary of the pitfalls I've stepped into over the years with real money.

I've seen too many people grow from 100,000 to 1,000,000, only to be wiped out by a single bad trade. I've also fallen into this trap myself:

In 2023, shorting BTC, holding on until 35,000 before getting liquidated;
In 2024, chasing longs on SOL, getting stopped out by a sudden dip.

The only conclusion: liquidation always starts with "wait a bit longer."

What can truly save your life is not a high win rate, but executing stop-losses.

**My stop-loss framework:**

Set a stop-loss immediately upon entering the trade, with a distance equal to the inverse of leverage (for example, 20x leverage = 5% stop-loss).

When floating profit reaches 5%, move the stop-loss to the breakeven point; at 10%, lock in 5% profit; at 20%, leave 15% to continue running.

If you lose three consecutive trades, exit immediately; if emotions run high, withdraw first.

**Example:** In May 2024, ETH was long at over 3600, using 20x leverage, with risk controlled around 2%. I kept moving the stop-loss up, and finally closed the position at 4100.

One sentence: Stop-loss is not admitting defeat; it's about staying alive to see the next wave of the market.