I also liquidated my contract for 8000u, I'm done, the 500,000 principal is only left with 110,000, I bought all spot.

$ETH $BTC $SUI Today we won't talk about trading, let's discuss something else. The path I walked is one that every newcomer will likely experience!
I've been in the crypto world for almost 2 years now, and I have blown up my account countless times. I've lost over 40,000 U in total between OKEx and Binance. Although I didn't blow up today, I only have 70 U left. While I understand all the principles and listen to advice every day, when it comes to my own trading, I can never control myself. At first, I always used small capital with high leverage, and I kept playing with altcoins. Sometimes I made huge profits, and other times I faced massive losses. In fact, I once turned 35 U into 10,000 U, but in the end, without exception, it all went to zero. Today, I've decided to close my contracts and only trade spot. Some harsh truths to share with newcomers.
1. Don't play with altcoins; while the opportunities are big, the risks are also significant. You can't compete with capital, and you'll blow up sooner or later.
2. If you're here with dreams of getting rich, I advise you to leave early; you'll only die faster because all you see is making money. If you lose money, your emotions will fluctuate severely, making it easier to make mistakes.
3. If you have poor self-control, don't trade contracts. Frequent trading will only lead to more blow-ups. You can't be right every time in 100 contracts, and if you can't withstand a single loss and keep making mistakes, you won't be far from blowing up.
4. Mainstream coins, just like the market in the past two days, experience huge rises and falls. Without any news, tonight will also see big fluctuations. Can you grasp every single one? Clearly unrealistic; you will still blow up.
5. I've learned a lot about candlestick techniques and even bought courses, but in the face of news and uncertainty, it all becomes futile.

I advise you to stay away from contracts.
A qualified contract trader should have strong self-control, comprehensive candlestick techniques, and timely news updates. First and foremost, I can't achieve this myself. Therefore, I'm preparing to exit contracts and only trade spot; otherwise, I'll only sink deeper.