#常见交易错误 My bloody lessons from entering the crypto world, 70% loss of principal in ORDI in Q4 2023. ORDI surged 180% in a single day due to the Binance listing announcement, and I entered the market at a high of $45. Driven by FOMO, I ignored the RSI daily overbought and the signals of large whale sell-offs. I went long with 5x leverage on my entire position, without setting a stop-loss. ORDI's perpetual contract funding rate reached 0.3%/hour, and the conditions for a short squeeze became ripe. I overlooked that ORDI's fully diluted market cap had exceeded $1 billion without any actual ecological support. Blindly believed KOL's statement of 'bullish at $100'.

Ultimate advice for beginners: 1. Use a demo account to validate your 'get rich quick fantasy', 2. Avoid leverage in the first year; leverage is an accelerator of losses rather than a tool for profits. First, use spot trading to understand market fluctuations, then try ≤2x leverage.

The market specializes in dealing with all forms of disbelief—when you think 'this time is different', death has already raised the scythe. This phrase has now become my amulet.