Contract trading, to put it simply, is a double-edged sword — you can make money quickly, but lose even faster. It’s nothing mysterious; the true determinants of victory or defeat are always discipline, not luck.

I’ve seen people turn over 1,000 US dollars into hundreds of thousands before exiting, and I’ve seen many more vanish overnight. What’s the difference? It’s that those who survive all stick to the same five bottom lines.

Back then, my approach was indeed aggressive. I split 1,500U into three parts, using only 500U per trade with 100x leverage. If I guessed right on a move, I could double my money; if I guessed wrong, that 500U was just tuition, no big deal. Surviving such high-risk operations depends entirely on execution.

**Stop-loss must be ruthless.** I used to wait for rebounds, but ended up blowing my positions twice. After that, I set a strict rule: as soon as the stop-loss level is hit, I slide out immediately, leaving no room for illusions. Admitting a loss sounds embarrassing, but it’s much more reliable than self-deception.

**When you experience consecutive losses, stop.** When the market is unclear, stubbornly holding on is just giving away money. I set a “circuit breaker” — after five consecutive wrong trades, I must shut down the software and leave the trading screen. Calmly sleeping through the night often makes the next day’s trend much clearer.

**Take profits when you win.** The numbers in your account are virtual; only when the money is transferred into your wallet does it count as a win. My principle is to withdraw at least half once I earn 6,000U, so floating gains don’t cloud judgment. Once your mindset becomes complacent, all subsequent decisions are bad.

**Follow the trend, avoid choppy markets.** In a clear trending market, 100x leverage is like an accelerator; if it turns into sideways consolidation, it quickly becomes a meat grinder. When you can’t see the direction clearly, staying in cash and waiting is smarter than reckless moves.

**Position size always has a limit.** Only use a small part of your capital for each trade, and never exceed 10% of your total holdings. The benefit of a small position is that even if you lose, it won’t damage your core, keeping your mindset clear.

Contracts are never a path to overnight riches but a long-term battle that requires patience. There are plenty of opportunities in the crypto space, but also many pitfalls. Those who can walk away with a smile are the ones who have internalized these rules to their bones.