After spending so many years in the crypto space, the deepest realization I have is: large positions should never be publicly disclosed. This is not about being low-key; it's a fundamental self-protection instinct.

Why is this the case? It's simple—if you reveal your true holdings and entry costs, you're essentially putting a target on yourself. Risks come from all directions: some want to infer market trends from your position changes, others aim to manipulate your decisions through public opinion, and some just want to see you get liquidated and laugh at your misfortune.

In reality, some people do the exact opposite. Certain traders openly declare they hold millions or even tens of millions in small-cap coins. This behavior is inherently reckless—I can understand testing the waters with ten thousand dollars, but openly revealing millions of dollars in funds, especially while in a clear loss position, and even adding over five million as margin to pay sky-high funding fees?

Any experienced trader seeing this would immediately think: this is not something a seasoned professional would do. Their lack of skill is even worse than that of a beginner.

So, everyone must understand: **following the crowd and copying others' huge position displays is a common reason for losses in the crypto space.** Protect your funds and manage risks carefully—it's far more important than blindly trusting someone else's trading stories.

Especially for small-cap coins with low liquidity and easy manipulation by market makers, be extra cautious. Even if you’re lucky with spot trading and make small profits, once you engage in futures—whether long or short—your counterparty is essentially the exchange and market makers. In this unequal arena, the final outcome for most retail traders is already predetermined.

Independent judgment and rational decision-making are the only ways to survive longer in this market.