#数字资产市场动态 After a contract liquidation, you'll truly understand that heartbreaking phrase:

A trader who doesn't cut losses is essentially a vending machine in the hands of the market maker.

Most people blame losses on market conditions, luck, or news. But a calm review reveals a harsh reality—the cases where accounts are wiped out are not due to poor market judgment, but all share a common point: giving up on stop-loss.

Recently, a novice opened a contract position without setting any stop-loss. As a result, during a normal counter-move, the account was instantly liquidated. I've seen this tragedy countless times.

Over the years in the market, I've seen too many stories like this: starting with a few thousand and growing to hundreds of thousands, only to wipe out all gains in one stubborn hold. I've fallen into this trap myself—I've been there, and I know the mentality all too well—"Just a little longer, it will come back."

But reality is cruel: you can hold many times, but the market only needs you to die once. All liquidations start from the phrase "just a little longer."

What can truly save you is never a high win-rate strategy, but simple and brutal discipline of stop-loss.

My current approach is straightforward: before opening a position, calculate the worst-case scenario. Assume the market moves completely against you, and if the loss reaches an acceptable range, cut losses immediately. The goal isn't to turn the tide in one trade, but to avoid being wiped out in a single move.

Once there's a profit, gradually move the stop-loss upward. Lock in a dollar of profit for every dollar gained, allowing for retracements, but never give back all the profits.

And the most overlooked but crucial point: emotional stop-loss. During consecutive losses, step away from the screen to cool down; after consecutive gains, when adrenaline surges, actively reduce your position or withdraw funds. Trading driven by emotions is almost always blind.

Finally, I want to say: stop-loss does not mean admitting defeat; it's a tactical retreat.

The truly excellent traders are not those who never make mistakes, but those who dare to cut losses immediately when they do, and run fast. The key is to stay alive and continue participating in this market.

Opportunities are never lacking in the market. What is lacking? It's the capital that can survive until the next wave of market movement.