Having spent seven or eight years navigating the perpetual contract market, the one phrase I find hardest to hear is: "Liquidation, it's purely bad luck." It sounds like a reasonable explanation, but in reality, it's just covering up the most fatal flaw in trading—most people simply don't roll over their positions.

People who get liquidated usually have three typical bad habits. When the market starts moving, they rush to take profits, only to watch the market surge afterward and regret not holding on; they might have correctly judged the direction but get scared out by a 5% pullback and close early; or they simply trade in the opposite direction—buying more when the price drops, increasing their position size until a sudden sharp decline causes a margin call. This kind of trading is no different from gambling.

Those who truly survive long-term in the contract market think completely differently. They never dream of getting rich overnight; their primary goal in every decision is to preserve their capital. Here, I want to correct a common misconception—many people interpret rolling over positions as "adding to floating profits and then going all-in," which results in giving away money to the exchange account for nothing.

My own principle for rolling over is this: use very small positions to test the waters, follow the trend at key points, and only risk money that is already profitable.

Suppose you have 10,000 USDT and are bearish on a certain trend. You wouldn't go all-in right away. The first trade uses the smallest position to explore, with a very tight stop-loss—if you're wrong, cut and exit immediately. If your judgment is correct? Then continue to follow with the profits you’ve made, but never use your principal to take risks. The clearer the market, the larger the participation; once hesitation appears, stop immediately.

After the market starts moving, floating profits often quickly exceed the principal. At this point, a seasoned trader's approach is to hedge the risk first, rather than continue to leverage and gamble.

In the same market conditions, some double their profits, while others lose everything. What's the difference? It’s not about how accurate their market predictions are, but how they allocate their positions. The contract market only respects disciplined traders; reckless courage is worthless here. Knowing when to hold small positions, when to increase, when to enter, and when to exit—that’s the real core of rolling over. As for how to identify signals that indicate it's safe to roll over, that can only be learned through practical experience, bit by bit.