#美联储重启降息步伐 has been doing derivatives for almost ten years and has seen too many people wiped out by contracts. To be honest, 90% of liquidations aren’t the market’s fault—it’s poor risk management.

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Let’s start with the biggest misconception: everyone’s afraid of high leverage.

In reality, 100x leverage isn’t scary in itself—what’s scary is how much money you throw in. I’ve seen people use 100x leverage but only open a 1% position. Their real risk is no different than buying 1% spot with all their funds. The formula that really determines survival is: Actual risk = leverage × position size.

During the 2024 crash, stats showed that 78% of liquidated accounts had something in common—they stubbornly held on after a 5% loss instead of cutting. My personal rule is: never let a single trade lose more than 2% of your capital. Sounds conservative? But that’s what keeps you in the game long enough to catch real opportunities.

Here’s a simple position sizing method: Maximum amount per trade = ( capital × 2% ) ÷ ( stop loss percentage × leverage ). For example, if you have 50,000 in your account, can accept a 2% loss per trade, and use 10x leverage, then you should put a max of 5,000 into a single position. Calculated this way, even if you lose 10 times in a row, you still have capital left.

For taking profits, I use a three-step approach: take out one-third after a 20% gain, another third at 50%, and sell the rest if it falls below the 5-day moving average. A friend of mine used this strategy last year and grew 50,000 into 1,000,000. It won’t always go that smoothly, but at least it locks in most of your profits.

Here’s an underrated trick—use 1% of your capital to buy put options for hedging. It’s like buying insurance for your positions. During the 2024 black swan event, this protected 23% of my capital. It costs a bit, but it can be a lifesaver when it matters most.

Trading P&L can actually be quantified: ( win rate × average gain ) - ( loss rate × average loss ). If you only ever lose a maximum of 2% per trade, and take 20% profit when you win, even with a win rate of just 34%, you’ll be profitable over time.

Finally, here are four hard rules—lessons I paid for with real money:

No more than 2% capital lost per trade;
No more than 20 trades per year;
Risk/reward ratio of at least 3:1;
Spend 70% of your time on the sidelines, only act on high-conviction opportunities.

Don’t rely on gut feeling or intuition. Only by sticking to discipline can you make consistent profits. The market will always be there, but if your capital is gone, it’s really gone.