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89% of futures traders are liquidated in their first month. Here is what the 11% do differently. When I started, I thought leverage was a tool to multiply my gains, ignoring the fact that it exponentially shrinks my room for error. I lost $5,400 because I didn't understand the distance between my entry and the point where the exchange takes my money. Let’s look at the hard data using $SOL at a current price of $140.00.

If you open a long on $SOL at $140.00 with 10x leverage, your liquidation price sits at roughly $126.30, assuming zero fees. That is a 9.7% move against you. If you bump that up to 20x, your liquidation price jumps to $133.20, a mere 4.8% drop. At 50x, you are liquidated at $137.30, which is a...