#2026年比特币价格展望 The moment my account was wiped out, I finally understood: there are no stop-losses in the contract; you are just the automatic ATM of the market maker.

Why do so many people end up losing everything? Honestly, it’s not because the market is fierce or because of bad luck; the fundamental reason is one—lack of risk awareness. The phrase "wait a bit longer" can turn many from full positions to zero.

I’ve also fallen into this trap. In the 2023 BTC decline, I used leverage to short, only thinking about pulling out at a pullback, but the market reversed sharply and I got liquidated; in 2024, when SOL took off, I greedily used 10x leverage to short again, and in the blink of an eye, my account was wiped out. That moment I realized: **Compared to win rate, stop-loss is the key to survival**.

Later, I summarized three rules that must be followed:

**Survive First.** Set a stop-loss immediately when opening a position. The stop-loss ratio is the reciprocal of leverage—20x leverage with a 5% stop-loss, 10x with 10%. A $10,000 position can lose at most $500, so even if you keep losing, you won’t be wiped out.

**Protect Profits.** Profits are not for dreaming; they are for insurance. Take profit at 5% and move the stop-loss to break-even; lock in at least 5% profit at 10%; at 20%, leave at least 15% for stop-loss. Like saving game progress, always secure your gains.

**Emotion Isolation.** Don’t look at the market after a few consecutive losses; take some profits when you gain too much. Emotional trading is basically giving away money.

Contracts are never about courage or luck; they rely on **discipline and risk management**. Stop-loss is not surrender; it’s your only insurance to survive in this market.

Opportunities are everywhere in crypto, but the most scarce thing is one—having enough capital to see the next bull market.