#数字资产市场动态 Contract trading for 8 years, survived the pain of -98%

Received a liquidation warning at 3 a.m., but I’m already numb. It’s not about having a strong psychological quality, but about accepting the brutality of this market long ago.

That huge loss taught me: the contract market is not gambling, but a precision harvesting machine. The more anxious you are to win, the faster you get harvested.

**The first key: look at the cycle, not at emotional fluctuations**

Pull the K-line to the monthly level. Only consider going long when the 30-day moving average turns up, and go short when it turns down. Other time frames? Turning off the screen is the best operation. The fluctuations of five-minute K-lines are illusions; even the market makers have been fooled.

**The second key: margin is essentially protection**

Margin should not be used to measure returns, but to survive longer. Sufficient margin means that even if the market drops 20%, you can withstand it. Exchanges love to see a needle drop; they don’t care about reason, only profit. Your position should be like a bulletproof vest, not a bikini.

**The third key: don’t try to guess the top and bottom**

Real opportunities appear in these signals: sideways trading at high levels for more than two weeks, then a volume breakout downward to short; sideways trading at low levels for more than two weeks, then a volume breakout upward to go long. Jumping in a day early is like adding another coffin for yourself.

**The fourth key: black swan events should be written into your calendar**

CPI data, non-farm employment reports, Federal Reserve meetings, geopolitical surprises… and some seemingly unrelated events. Three days before these data are released, proactively reduce your positions. Don’t gamble with data; winning data won’t share your chips, but will instead take your principal.

**The fifth key: execute stop-loss decisively**

Set psychological stop-loss at 5%. When reached, close the position immediately. Holding a position is essentially giving money to the market maker. If you don’t cut it tonight, it will cut you tomorrow, and it will do so more fiercely.

**The sixth key: focus on mainstream coins**

BTC and ETH are ATM machines, altcoins are just gambling. Want to get rich overnight through contracts? Just buy a lottery ticket—costs less.

The contract market is like a mirror, reflecting everyone’s greed, hatred, and obsession. Save these rules in a memo, read them before opening a position next time. Only those who follow these disciplines have the right to survive longer in this market.