On the road of #ETH巨鲸增持 contracts, the liquidation stories I’ve seen could fill a book. The most common cause of death? Holding on stubbornly.

Beginners are especially prone to this trap. In a sideways market, opening a small leverage position and holding on might actually get you back to breakeven—this kind of wishful thinking has hurt a lot of people. But if you run into a strong one-sided trend, like BTC surging from 110,000 all the way to 126,000, you'll suddenly understand: holding onto a losing position is a joke. At that point, your mind isn’t thinking “How much can I make,” but “How much longer can I hold out.” The feeling of your account balance slowly going to zero—those who know, know.

What’s the difference between a veteran and a newbie? It’s at the moment of opening a position. A veteran’s first thought is “What’s the maximum I could lose on this trade?” A newbie thinks, “How many times can I multiply my money this round?” First, calculate the loss you can tolerate—is it 1% of your principal? 2%? Then work backwards to find your stop-loss point. If you get this order wrong, you’ve already lost. Risk management always comes first; profits are just the result.

Many people think setting a stop-loss is admitting defeat. Actually, it’s the opposite—it’s leaving yourself an exit. If you pick the wrong direction, just accept it; if your entry point is off, start over. That’s way better than being trapped in a heavy loss with no way out. Taking a loss hurts for a moment; holding on to a bad position can ruin you for life. Anyone can do the math on that.

The worst are those who turn a losing position into a belief. If two weeks doesn’t work, they’ll wait six months, claiming they’re waiting for a rebound, but really, they’ve been hijacked by a bad decision. Having your money stuck is the least of your worries; the real issue is your attention and opportunity cost are all tied up. When the next opportunity comes, all you can do is watch—because your bullets are already spent. $BTC $ETH