I’ve noticed that many people can't hold their spot positions, and their contracts keep exploding. Honestly, it's not a technical problem; it's that leverage amplifies people's psychology. Others think opening small multiples is safe, but in reality, a single needle can still trigger a liquidation; others believe spot is the safest, but as soon as prices go up or down, they can't help but trade back and forth, giving away their chips.

Here's a straightforward truth: positions that let you sleep peacefully are the real ones. Use spot as your base position, don’t deceive yourself with “I want to hold on.” Treat contracts only as tools; accept losses at a certain point and don’t try to hold through them. Recently, funding rates are extreme again, and in the group, people are arguing whether to reverse or keep squeezing the bubble… I don’t know the answer either. Anyway, in times like these, I’ll reduce my exposure first, leave some probability for myself, and not entrust my life to a single K-line.