#永续合约交易 Perpetual contracts have recently seen shocking liquidation data—$195 million in 24 hours, with both longs and shorts being wiped out. Watching contracts like $LIGHT surge 4x in a day and then quickly crash back down reminds me of the losses I suffered in futures trading back in the day.

The key point is the operational logic. BTC repeatedly hits resistance at 90,000-90,500, indicating that institutions are positioning here, but retail traders can't see through it. You must understand that the destructive power of contracts lies in leverage amplifying all emotions. When prices reach critical levels, automatic stop-loss orders trigger en masse, turning the market into a slaughterhouse. Those dump times—at 4 a.m. domestic time—are unavoidable.

The head and shoulders pattern on ETH is also warning of risk. A short-term rebound does not mean a reversal. The real support is at 2800. If this level breaks, the decline will accelerate. My advice is: if you insist on trading contracts, set proper stop-loss orders (not just psychological stops, but actual orders). You can buy on dips at support levels, but if the breakout fails, close your position immediately. Don't bet on reversals—those betting on reversals have grass growing three feet high on their graves.

Avoid meme contract coins even more. $LIGHT's pattern is the same as previous scams like aia—first creating hype to pump the price, then concentrating on dumping. There are still on-chain trading opportunities, but contracts have become a meat grinder. Those who survive know when to rest and observe.