Liangxi is a representative of short-term high leverage, earning tens of millions of dollars in April and paying off all debts. In the past two months, he lost all the money earned and is now in debt by 200 million yuan, starting to beg online again. Liangxi is already a rare genius competitor, and even he has been backfired by high leverage; do you have a chance of survival?
Wanting to get rich overnight, fantasizing about using high leverage to achieve everything in one go, is the fundamental reason for being unable to control oneself from using high leverage. As long as this mindset doesn't change, one will never be able to control the use of high leverage and will constantly repeat liquidation. The outcome is wanting to get rich overnight, but the result is long-term poverty!
Contract trading is a marathon; as long as you survive and protect your principal, there is potential for continuous growth. You must absolutely abandon the fantasy of getting rich overnight!
If you feel that your principal is too small and using high leverage is too slow, then save enough principal before entering the market. If you fantasize about using high leverage to grow quickly, the outcome will be a constant cycle of liquidation. The small amounts you keep adding up will amount to a significant sum over a year!