The fundamental reason for repeated liquidation is only one: they do not know what they are really doing.

On the surface, it appears to be using 5x or 10x leverage, but in reality, the position has long exceeded their capacity. An account with 10,000 USDT can only withstand a drawdown of 500 USDT, yet they dare to open a position of 30,000 USDT—resulting in a real leverage of dozens of times. With even a slight market fluctuation, it immediately goes to zero, becoming 'fuel' for the market.

Those who truly understand contracts see them only as tools for risk management and probability. Profits often come from the chips left behind by others' liquidations. Experts spend most of their time waiting, only capturing clear opportunities, acting decisively, and leaving after taking their share.

In contrast, most people keep struggling, losing more as they trade, ultimately only contributing to the platform's fees. The core of long-term survival lies in restraint: strictly controlling losses within 5% and allowing profits to run.

Contracts are not gambling; it is those who recklessly trade large positions and rely on feelings that gamble. Those who survive rely on rules, discipline, and probability. With direction and method, the journey can go far. #加密市场观察