#美联储回购协议计划 Can contracts really be touched? Actually, that's a good question. The key depends on how you play.

First, let's talk about what a contract is—simply put, it's a way to make money without buying coins. As long as you judge the price direction correctly—going long if you think it will rise, going short if you think it will fall—you profit from the price fluctuations, not the coins themselves.

There are two common types of contracts on exchanges. Perpetual contracts have no expiration date—you can hold them as long as you want, and they are linked to the spot market, trading 24/7 without closing. Delivery contracts are different; they have fixed expiration dates, and at that time, you are settled at the current spot price, similar to seasonal or quarterly products.

Before entering the market, you must understand these concepts. The number of contracts is your minimum trading unit. Leverage is like an amplifier—using 10x leverage means if the coin price drops by 10%, you get liquidated; conversely, with 5x leverage, it takes a 20% drop to be forced out. Opening a position is your entry action, closing a position is locking in profit or loss. Forced liquidation happens when your margin is insufficient, and the system automatically closes your position—that's the most painful part.

How to avoid losses is the real skill.

Never be greedy with leverage; within 5x is enough. High leverage can indeed double your money quickly, but it can also wipe you out just as fast. With a principal of 100,000 yuan, each trade can lose at most 3,000 yuan—that's 3% of your principal. Even after losing three trades in a row, you still have 91% of your capital left to continue, and as long as you catch a good trend later, you can turn things around.

Mainstream coins like BTC and ETH tend to be relatively stable, supported by substantial real trading volume, making them less susceptible to manipulation. Smaller coins are riskier—they're easier to be "cut" or manipulated.

There's also a detail in trading—what time of day you trade matters. The daytime session, from 9 am to 6 pm, has the most stable market fluctuations, suitable for manual trading. Around 3 am is the peak time for liquidations—don't stay up late and trade during that period, as it increases unnecessary risk.

Ultimately, contracts can help you make money quickly, but to survive long-term, you need: first, the ability to judge market direction; second, disciplined execution—stop-loss when needed, don’t let emotions take over; third, effective risk management—calculate your margin ratio and stop-loss points for each trade.

A final heartfelt message—learn to avoid losing money first, then think about making money. Practice thoroughly with a demo account, and only use small funds when you’re ready to trade for real. Steady progress, step by step, staying away from gambler-like all-in bets, is the way to survive longer in this market.