Newcomers in the cryptocurrency circle, don’t rush to touch contracts!

First, look at the recently updated data: After the Federal Reserve's interest rate cut announcement on December 10, there were 114,600 liquidations in the cryptocurrency market within 24 hours, with over $300 million in principal evaporated.

Whether you can get rich is another story; learning to survive is the first lesson before entering the market.

Those screenshots of "contract doubling" are all bait to lure new investors.

Contracts are the "battlefield" of the cryptocurrency world and also a disaster zone for liquidations.

Charging in without understanding the rules is simply handing over money. The perpetual contracts that everyone often plays with, while they have no expiration date and support T+0, the funding rates will continuously eat away at positions, and the risk never closes.

Leverage is a "double-edged sword"; with 10x leverage, a 10% fluctuation in BTC triggers forced liquidation.

At the beginning of December, some investors used 4x leverage to trade BTC-related contracts, and a principal of 2 million went straight to zero.

Newcomers shouldn’t show off; start practicing with 1-3x leverage to feel the cruelty of "long and short double kills."

Stop-loss is not a suggestion; it’s a lifesaver.

From December 10 to this morning, ETH staged a "high jump and dive," dropping from $3,400 to around $3,200, with a single-day fluctuation exceeding 6%. Many held onto their positions with the fantasy that "the market can rebound," and as a result, their accounts went to zero first.

Every order must set a stop-loss, just like wearing a seatbelt. Entering the market without a stop-loss is no different from running naked on the highway.

Don’t choose platforms randomly; the low fees of small exchanges are all traps. Price manipulation, pulling network cables, and running away are common practices. You can never win against such "rule killings"; prioritize choosing compliant, licensed top platforms.

The real minefield is in your mindset: holding positions is betting against the market, high leverage is an accelerator for liquidation, and going all in is a gamble with high risks.

Remember three red lines: don’t chase after the explosive rise of altcoins (that’s a trap for big players to offload), don’t open positions without setting a stop-loss, and don’t place orders when emotions run high.

Contracts have never been a game for getting rich; every click to place an order could determine the life and death of your account.

Lastly, to be honest: contracts are not about who makes money quickly, but who survives longer.

If you want to enter the market, you must fully understand the rules; profits and losses are entirely your own responsibility.

Follow me for practical skills that can be applied; see you in the Binance chat room.