The contract market has no gray areas; you either make money and cash out, or your account is cleared. This may sound harsh, but the data is there.

December 20th is a microcosm - the total liquidation amount of contracts across the network reached 118 million USD, with both long and short positions suffering losses, among which the liquidation amount for BTC alone exceeded 38 million USD. The situation was quite bloody.

What is the problem? A bunch of people rush in with thousands of dollars in capital, their heads filled with dreams of "high leverage turning their lives around," thinking they can change their fate in a week. The reality is, liquidation becomes a routine, having their account go to zero is just part of it, and in the end, they start cursing that "the crypto world is just a casino."

But you need to understand an essence—the market does not actively kill; what truly costs you your life is your own cognitive blind spots.

To be honest, even the most skilled traders have taken detours. Watching the market until your eyes hurt, panicking at the first wave of losses, almost getting caught in a spike. It wasn't until later that I realized one thing: liquidation is never an accident; it is a reckoning of your insufficient understanding. Don't think that 3x or 5x leverage is safe; it's just delaying the inevitable liquidation.

How deep is the pit of high leverage? Funding rates, slippage, and trading fees are all hidden knives. Take a leading exchange as an example, the taker fee for ordinary users is 0.06%. Once you use 10x leverage, you are effectively paying 10 times the trading cost. Coupled with the mathematical trap where a 50% loss requires a doubling to break even, this is the standard structural harvesting.

How to survive? You need to find the right tools and discipline. The closing and opening signals of the BOLL band are worth paying attention to—focus on the bandwidth ratio to determine the direction of the breakout; the success rate of this method can reach over 78%. The key is to execute discipline: decisively enter when it's time to go heavy, and immediately cut losses when it's time to stop, completely locking emotions away in a small dark room.

Are you still placing orders based on feelings and repeatedly getting liquidated? What you lack is not luck, but a system that can help you survive. The next market cycle is already on its way; whether to rely on a system or to gamble is a choice that lies in your hands.