#密码资产动态追踪 After years of navigating the trading world, you'll notice a particularly common question: "How much leverage is safe to use?" Honestly, most people asking this are still exploring the ins and outs of contracts.

I've been trading perpetual contracts for many years, and the most frequent question I hear is this. But there's a cognitive disconnect—leverage size is not the most critical factor at all.

The real danger of perpetual contracts isn't the lack of an expiration date, but the illusion they create: "As long as I choose the right direction, there's always a chance to recover." It's this mindset that has swallowed countless accounts.

Most people worry about whether to use 10x or 50x leverage, but they miss the true life-and-death line. Take a closer look: only three dimensions determine the outcome—how much principal is invested, whether you can hold on, and whether you can exit.

The same 50x leverage can tell vastly different stories—
Some try with only 5% of their account, cut losses immediately if they fail;
Others go all-in and hold, and if the market slightly fluctuates, their account is wiped out. Liquidation isn't caused by leverage itself, but by a combination of poor capital management and greed.

The most regrettable situations I've seen aren't due to wrong market direction, but because even when the judgment was correct, traders were shaken out during the oscillations.

Later, I set a few unshakable trading principles for myself, which have saved me many times:
Always use isolated margin mode to keep risk confined to a single trade.
Set a fixed stop-loss before entering, and accept the loss if it hits.
Only take what you need to earn each day; don't let emotions dictate your trades.

You might think earning $50 or $100 a day is too slow. But from another perspective, earning a steady 20% to 30% monthly return? In traditional financial markets, that's the level of top traders.

Leverage is like a mirror. It amplifies not just market volatility, but also how disciplined your execution is, how strong your self-control is, and how deep your inner desires run.

True veterans dare to use high leverage because—it's simple—they are more ruthless about cutting positions and know when to take profits.

In other words, a 5x leverage without discipline is far more dangerous than a disciplined 100x.

Instead of obsessing over "what leverage is appropriate," ask yourself this question: "If I lose everything on this trade, can I accept it?" That’s the real starting point.