In the years of trading contracts, I've seen too many people clearly on the right track, yet losing more and more: entering a trade only to be hit back hard by the market,

closing a position and then watching the market take off immediately, ultimately cursing themselves for having "bad luck" as they stare at their losses.

It wasn't until I lost 50,000 USDT that I suddenly realized: this isn't a matter of luck at all; it's that the exchanges hide too many pitfalls that they won't openly mention.

Today, I'm going to expose these pitfalls to help you avoid three years of detours and save you hundreds of thousands in tuition!

The first pitfall I fell into was the funding rate. I used to think that little fee was insignificant until one time I went long on ETH, and the funding rate exceeded 0.1% for three consecutive days, thinking "I can just hold on and make a profit."

But on the morning of the fourth day, the market suddenly crashed, and it was only when I was forcibly liquidated that I realized — the funding rates were consistently high; it wasn't a normal market signal, it was the exchange hinting "it's time to harvest the longs!"

Later, when I encountered such situations again, I would decisively position myself in the opposite direction, and instead, I managed to recover quite a bit of my previous losses using this signal.

What frustrated me even more was the trick with the liquidation price. Once, I used 10x leverage to short SOL, calculating that a 10% drop would lead to liquidation, so I didn’t set a stop-loss too close.

But when the market dropped just 7%, my account was directly liquidated! When I argued with customer service, I learned that they added a “liquidation fee” into the liquidation price, effectively shifting my safety line forward without me knowing.

Since then, every time I calculate the liquidation price, I always leave a 3% buffer space, and I’ve never taken such a silent loss again.

There’s also the high leverage trap. Initially, I thought that 100x leverage could quickly double my investment, but after a few operations, I discovered that fees and funding costs are charged based on the amplified position.

Once, I held a position for 6 hours, and the fees wiped out 30% of my capital! Now, I only use high leverage for short-term trades, holding positions for no more than 2 hours, and taking profits when I can.

I also stumbled with rolling positions. I tried using my entire account to roll over, tripling my account balance, but the market reversed and I was liquidated back to zero.

Now I have a strict rule: after making a profit, I only roll over 50% of the profits and always leave half of the capital as "emergency funds."

In the contract market, don’t think you can rely on gambling to turn things around; what you think is "bad luck" may actually be not seeing the pitfalls clearly.

If you’re struggling in contracts and don’t want to be taken advantage of anymore, follow @趋势猎手老金 . After all, in this market, surviving comes first before you can talk about making money.