At first, I was doing low leverage contracts, like 5x. I found that when doing low leverage contracts, my judgments on trends were very accurate. Of course, this isn’t too difficult; the returns often reached 2x or 3x, and the highest once reached 8x, with cumulative returns over 30x. Sometimes when facing a drop, just holding on is fine, and my mindset was very good.

Later, I felt 5x was not enough, so I started doing 100x. For a whole month, I doubted whether I was being targeted; whenever I went long, it absolutely wouldn’t rise, and whenever I went short, it absolutely wouldn’t fall. The key is, when I closed a long position, it would immediately surge, and when I closed a short position, it would immediately plummet. Once or twice could be excused, but it continued like this for a month, making people really frustrated. Moreover, in the crypto world, fluctuations of 5 points up or down are quite normal, but a 4-point drop would lead to a long position being liquidated, and a 4-point rise would lead to a short position being liquidated. After too many liquidations, one becomes numb and loses feeling. I began to ponder whether this trading platform has an automated monitoring system that, upon detecting someone opening a contract above 100x, automatically rolls the liquidity pool to eat the orders, and then returns to normal, rising or falling as it should. Don’t dismiss small orders; even a fly is still meat.

The difference between low leverage contracts and high leverage contracts.

First, the mindset is different.

With 5x contracts, I don't care if it’s going up or down; just a glance means I lose.

Doing 100x contracts, oh no, it dropped 2 points. Should I run? If I run, I lose money; if I don't run, I get liquidated. Damn platform, it’s targeting me. In the end, I can only sigh, both gains and losses are fate, not in our control at all.

Second, the judgments are different.

With 5x contracts, you only need to make a rough judgment.

With 100x contracts, making a rough judgment is useless because there are short-term fluctuations that cannot be predicted; it’s just gambling, pure gambling.

Third, the operations are different

Doing 5x contracts, you can go a few days, half a month, or even half a year without needing to operate; you could directly uninstall the app.

When doing 100x contracts, I might need to operate dozens of times in a day; in fact, the money is ultimately consumed by fees.

With 5x, you can go long-term; with 100x, you don’t dare to go long-term.

After doing contracts, you don't want to play spot, and after doing high leverage, you don't want to play low leverage.

So don’t easily try contracts above 100x; it’s extremely dangerous. Don’t even do 20x; 5x is enough. However, once you start doing contracts, you inevitably move towards higher leverage until you finally get liquidated to zero. This is a very long process, not just a single liquidation, but continuous liquidations. You have to pay a lot of tuition fees. Many people, even after paying their tuition and losing everything, end up with nothing.

In summary, everyone must pay attention to the leverage ratio when opening contracts.

Don't open 100x, so I opened 125x 😂😂😂