I have seen too many crypto enthusiasts proclaiming 'value investment' while secretly engaging in contracts behind the scenes, only to end up losing everything and not even being recognized by their mothers. I've also seen a few real big shots who can play with 5x leverage and multiply their investments several times in a year without catching their breath. But to be honest, 99% of people ultimately cannot escape these three pitfalls—losing all capital, a shattered mindset, and collapsing beliefs!

Have you noticed? The market manipulators have become increasingly sophisticated, specifically targeting the stop-loss lines of technical traders. You think you've understood the MACD golden cross and dead cross? The next second, a huge spike wipes out the entire network, and a billion in liquidation orders disappear just like that! Playing short contracts is like gambling against the market manipulators; even if you win nine times in a row, losing once will bring you back to zero!

The most terrifying part is that process: starting with 5x leverage, making a little money, and then feeling tempted, 'What if I go for 10x? Wouldn't that be faster?' What happens then? The positions get bigger and bigger, and the stop-losses get further and further away. When down 10%, you think, 'Just hold on a bit longer,' and when down 30%, you hope, 'I'll close it when it bounces back.' By the time you lose 50%, you're already numb... Finally, when the liquidation notification dings, you suddenly realize: the contract market is specifically designed to punish all forms of defiance!

Remember a few hard-learned lessons:

Don't go crazy increasing your position just because you have some unrealized gains, strictly enforce your stop-losses, and those who go all in with high leverage are just rushing to their downfall.

The scariest thing is not losing money, but getting a little profit and then becoming reckless. I've seen people turn 50,000 into 5 million, truly believing they are gods of contracts, only to misread the big trend and stubbornly hold on, ending up at zero overnight! The crypto market specifically targets two types of people: the greedy and the self-righteous!

True experts understand the 'water withdrawal rule':

Withdraw your principal after making 50%, trade a maximum of three times a week, and always maintain respect for the market.

Finally, I'll leave you with a heartfelt piece of advice:

If you're still struggling in contracts, ask yourself, 'Can I accept going to zero?' If you can't, it's best to stop early and play it safe! If you can... perhaps you are just one opportunity away from enlightenment...

If you don't know how to operate in this market, you can follow Mo Fei; I have ideas, you have execution, and there's still space.