Looking at those screenshots from the fan backend — turning 50,000 yuan into 120,000 in three days — I was actually timing in my heart, counting down to the start of his Get Liquidated. Some tuition fees, just paying once is enough to make someone completely exit.

"It's all about the thrill!" This phrase is heard too often in the crypto world. Last week, a freshly graduated fan messaged me, saying he took his savings of 50,000 and jumped into futures trading, and within three days, it turned into 120,000. He excitedly asked me how to proceed next. I directly replied to him with three words: Get Liquidated.

Having been in this market for nearly 8 years, I've seen too many of these "lucky ones". Each one believes they are the 1% winners. But the truth of contract trading is that it is not a shortcut to wealth for ordinary people, but rather a "screening mechanism" of the market. Those who are filtered out are all those who think they can rely on luck to succeed.

**How cruel the contract market is, the data speaks**

In August 2024, during the drop of Bitcoin below $60,000, there were 78,000 people who got liquidated within just 24 hours, with a total loss of $198 million. You read that right, in one day. Among these liquidated investors, most were bullish. They thought Bitcoin wouldn't fall, but the market gave them a resounding slap in the face.

The price fluctuations of virtual currencies are inherently much more intense than traditional finance, with daily rises and falls of 50% being commonplace in the crypto world. However, contract trading uses leverage to magnify these fluctuations by tenfold or a hundredfold. Imagine, you win 99 times, but if you lose just once while using high leverage, you could potentially get liquidated completely. This isn't investing; it's playing Russian roulette.

What’s even more heartbreaking is that some platforms employ "technical means"—suddenly unplugging the network cable or rolling back transactions, leaving you no chance to actively close your position, and you end up being forcibly Get Liquidated. Coupled with those "pig slaughtering" style operations, the money of beginners is like entering a black hole, with no return.

**What do I rely on to survive**

In the bloody market, surviving and walking out is never because the market is kind to you, but because I have forged a few iron rules with real money. These things are worth more than any technical indicators.

First of all, never put your entire fortune on a single trade. Risks should always be diversified, and positions must be manageable. No matter how lucrative the opportunity, if you bet everything, you have already lost. Secondly, setting a stop-loss is like wearing a seatbelt; it's not to restrict you, but to ensure you live to see the next opportunity. It may feel painful to lose a little money, but this tuition prevents you from going bankrupt. Thirdly, the mindset is crucial. Greed and luck are the quickest ways to self-destruct in the contract market. Recognizing your own ability limits and knowing what to do and what not to do is the true wisdom of trading.

I truly hope that the fan with 120,000 can take my advice seriously. Turning 50,000 into 120,000 is luck; the real skill is being able to preserve 120,000 and continue to grow it steadily. The crypto world is never short of stories of overnight wealth, but what is lacking are people who make money while staying alive.