# $ZEC How many times of contract leverage can be opened? Experienced for ten years: losing control is the root cause of liquidation! #加密市场反弹 #美联储FOMC会议 #美联储重启降息步伐

Perpetual contracts have no expiration date, and it seems that "as long as you don't liquidate, you can hold on forever," but it actually hides a fatal temptation: you can enter whenever you want and exit whenever you want, while the returns are amplified, the risks also double.

Yesterday, a brother said he often uses 30-50 times leverage. I asked him in return: "Then why not just open 100 times?" He replied, "It liquidates too quickly," and I laughed immediately—once you leverage, no matter how many times, you are walking on the edge of a knife; the difference is just how much reaction time the market gives you.

Here’s a real example with BTC: with 30 times leverage, a 5% fluctuation could lead to liquidation (about 16U fluctuation); with 50 times leverage, a 3% fluctuation triggers liquidation (about 10U fluctuation); with 100 times leverage, a 1% fluctuation could sweep you out (about 5U fluctuation). Changing the multiplier directly alters the risk-reward ratio significantly.

1 times leverage is as stable as an old ox, but it’s slow to the point of being frustrating; 100 times leverage is as fast as a rocket, but it requires you to have stop-loss and principles; otherwise, a single wrong operation could lead to zero.

However, what truly causes liquidation is not the leverage being too high, but the position being chaotic and the margin being thin! Trying to leverage hundreds of U to pry open dozens of times the position, a slight normal fluctuation could throw you out—what hurts the most is not losing money, but correctly predicting the direction, only to be swept out by an early stop-loss, watching the market slip away.

So remember: perpetual contracts are not afraid of high multiples, but you must leave yourself some room; the margin must be able to withstand normal fluctuations.

If you don’t want to be harshly educated by the market, engrave these three iron rules into your bones:

1️⃣ Always use isolated margin mode, don’t recklessly go all-in, give yourself a way out;

2️⃣ Stop-loss must be set firmly; holding a position is just signing for liquidation, and you must exit immediately when the time is up;

3️⃣ Don’t be greedy with targets, with a capital of 5000U, earning 50-100U daily is enough; the power of compound interest is far scarier than you think.

Final piece of advice: being able to steadily control losses with 100 times leverage is safer than having no stop-loss with 5 times leverage. Perpetual contracts do not survive on luck, but on a risk control system—leverage itself is not the problem, losing control is the biggest problem!