Until now, I still have that screenshot on my phone: 100U turned into 5600U in just 12 hours.
At three in the morning, the green candlestick on the screen jumps like an electrocardiogram. I just closed a BTC perpetual contract position, and in 5 minutes, my capital doubled. This is equivalent to my income for a day's work. In the crypto world, this is just the blink of an eye.
I closed the trading interface, and scenes from three years ago working late in the office flashed in my mind. Now, a few minutes of market fluctuations can achieve the same profits; this sense of time-space compression is addictive and disorienting.
1. Behind leverage is a precise measurement of human greed.
With 10 times leverage, a 1% price fluctuation results in a 10% change in capital; with 100 times leverage, the same fluctuation directly determines whether the account doubles or goes to zero. This is not a mathematical game, but a trial of human nature.
I have seen too many people, including myself, initially attracted by the story of 'getting rich quickly.' In June 2025, an investor used $500 in capital to long SOL contracts with 100 times leverage, making $125,000 overnight. Such stories spread like a virus, stimulating every ordinary person wanting to change their fate.
Leverage amplifies not only funds but also the deep-seated greed and fear of human nature. When you open a position with 100 times leverage, every little movement of the decimal point on your phone screen will accelerate your heartbeat. This extreme compression of time and space creates a dizzying financial hallucinatory effect.
2. The contract market is a magnifying glass for group psychology.
There is no circuit breaker mechanism to protect in the crypto world; prices can soar to the sky or instantly drop to zero. This environment amplifies human weaknesses—when the market rises continuously, FOMO (fear of missing out) spreads like a virus; when the waterfall comes, panic selling makes accounts shrink rapidly.
On October 11, 2025, Bitcoin plummeted over 8%, with 184,000 people globally being forcibly liquidated by the market at the same time, resulting in $630 million disappearing into thin air. Just the day before, nearly 1.67 million people had lost over $19.3 billion in a single day's crash.
In this market environment, the emotions of most people become contrary indicators. When the search popularity of a certain cryptocurrency peaks, its subsequent returns are mostly negative. Tokens like DOGE and TRUMP repeatedly verify this rule, yet FOMO emotions still drive countless people to buy at high points.
3. From sudden wealth to zero, often it is only a step away.
The story of the crypto legend 'Brother Ma Ji,' Huang Li Cheng, is worth warning every contract trader. On September 19, 2025, his account still held $44 million in profits, but just a month later, only over $30,000 remained in the account.
Losses did not calm him, but triggered 'revenge trading'—just hours after liquidation, he opened a position again, determined to recover the losses. This mindset is the starting point of collapse for most traders: treating the market as a casino and trading as gambling.
Data shows that over 70% of liquidations in leveraged trading come from loss averaging down, which is the ultimate manifestation of gambling psychology. When losses occur, refusing to stop loss and continuously increasing positions to try to recover until the liquidation notice arrives.
4. My survival rule: maintain 0.1 seconds of clarity amidst the frenzy.
After surviving in this market, I have formed my own trading principles:
Position management is the foundation of survival. I always adhere to a strict rule: the initial position should not exceed 10% of the capital, and only increase the position stepwise after profitability. This ensures that any single mistake will not be catastrophic.
Emotional journaling is necessary for self-discipline. Record your psychological state (anxiety/greed index) after each trade to gradually identify personal emotional patterns. Data shows that those who keep a continuous record reduce emotional trading by 40% after three months.
Stay away from the 'herd mentality.' When everyone shouts 'TO THE MOON,' I become particularly cautious. Real opportunities often arise in quiet markets, not where the voices are loud.
I always keep a portion of spot positions as a 'last line of defense.' Leverage is a knife, and spot is a shield; understanding the relationship between the two is crucial for long-term survival in this market.
5. Conclusion: Contract trading is not a money printing machine, but a training ground for human nature.
In this 24-hour non-stop trading market, the most valuable thing is not seizing every opportunity, but selectively giving up most opportunities. Low-frequency traders have an annual return of 18.5%, much higher than the 11.4% of frequent operators; this data is enough to illustrate the issue.
True contract experts are not those 'gods' who flaunt their profits on social media, but those who can remain calm in market storms and strictly execute trading plans—'practitioners.'
When I opened the trading platform again and saw that jumping candlestick, I clearly knew: I am not conquering the market, but the greedy and fearful self within me.
Every time I open a position, it is a dialogue with myself; every time I close a position, it is a test of humanity. This is my contract philosophy—surfing in the ocean of numbers, but always remembering the direction of the shore.
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