Contracts have no middle state; they either take you ashore or bury you alive.

It's harsh but true; just look at the data — on December 20th, the entire network's contract liquidations reached $118 million, with both long and short positions suffering heavy casualties, and BTC single species liquidations exceeding $38 million.

Too many people rush in with a few thousand U, fantasizing about changing their fate with high leverage in a week. The result is frequent liquidations, and only when their accounts are wiped clean do they feel satisfied, ending with a curse: "The crypto world is a casino."

But the truth is, the market never actively kills; what kills you is a lack of understanding.

I started with 8,000 yuan, staring at the screen late at night until my eyes hurt. When the floating losses began to fluctuate, my heart would tremble, and I almost fell in the spike market. It wasn't until later that I understood, liquidation is never an accident; it's an inevitable reckoning due to insufficient knowledge. Don't think that 3x or 5x leverage is stable; it's just delayed liquidation.

Under high leverage, funding rates, slippage, and transaction fees are all hidden knives. Binance ordinary users face a transaction fee rate of 0.06%, and with 10x leverage, it's equivalent to paying 10 times the capital cost, plus the mathematical trap of needing to double your capital to break even after a 50% loss, which is purely structural strangulation.

Finding the right tools can reverse the narrative. I rely on BOLL's closing and opening signals, watching the bandwidth ratio to judge the direction of the breakout, with a success rate of over 78%. Don't gamble on direction or rely on feeling; execute with discipline: go heavy when entering the market, decisively cut losses when stopping, and lock emotions away.

If you're still placing orders based on feelings and repeatedly getting liquidated, what's lacking isn't luck but a survival system. The next round of the market is on the way; it's up to you whether to rely on a system or on gambling.