#大户持仓动态 How many times should you open a perpetual contract? Stop gambling blindly; this is the real secret to longevity.

$BTC $ETH $BNB

The backend has received many questions, all about leverage multiples in perpetual contracts—I've been discussing this from bear markets to bull markets, with beginners stumbling and veterans crashing, cycle after cycle.

Let me start with a harsh truth: leverage is not a tool for making money; it’s a double-edged sword. When used correctly, it can be effective; when misused, it’s a wound.

Perpetual contracts have no expiration date; as long as you don’t get liquidated, you can hold your position indefinitely. Sounds pretty free, right?

But behind this freedom are all traps: you can add to your position at any time, increase your bet when you’re winning, hold on stubbornly when losing. Once leverage is amplified, the profit potential explodes, and the original risks are pushed to the back of your mind.

Recently, I met an old crypto buddy who said he’s been using 30 to 50 times leverage for years. I jokingly asked why he doesn’t go for 100x. He rolled his eyes: “It blows up too fast; I can’t react in time.” I couldn’t help but laugh—

Leverage is essentially walking a tightrope. 50x is like slowly cutting with a dull knife; 100x is a quick slash. The only difference is how many seconds the market gives you to react.

For example, with BTC: opening at 30x, a 16-point move can liquidate you; at 50x, it’s down to 10 points; at 100x, just 5 points. Trading at 1x is rock-solid but yields slow returns; at 100x, it’s fierce like a tiger, but without discipline, it’s a dead end.

The real reason accounts get wiped out isn’t because of high multiples, but because of mindless adding to positions and margin running to zero. Some people think they can turn a few hundred dollars into tens of thousands; when the market shakes, they get swept out instantly, only able to watch the gains slip away.

The most painful part isn’t even betting against the trend; it’s having the right direction but being knocked out by small fluctuations because of over-leveraging, watching the market rise without being able to hold on.

The core logic is simple: perpetual contracts aren’t afraid of high leverage; they’re afraid of leaving insufficient margin in the account. The margin must be able to withstand daily volatility—that’s an unnegotiable bottom line.

Three rules that must be ingrained in your mind: First, always use isolated margin mode; cross margin is like tying your entire fortune to a bomb. Second, set stop-losses properly; when you decide to hold a position, the countdown to liquidation begins. Third, don’t be too crazy with profit targets; aiming to make 50 to 100U daily from a 5000U principal, compounded over time, is much more realistic than going all-in on one shot.

Leverage doesn’t amplify market trends; it amplifies your greed and execution. Those with control can survive at 100x; those without discipline will lose even at 5x.

Perpetual contracts aren’t about who’s braver; they’re about who can last longer—only with a stable trading system can you walk out with a smile.