#数字资产市场动态 Why Do Contract Beginners Keep Liquidating? You Might Be Overlooking These Hidden Rules

Everyone who trades contracts has experienced this: they spot a trend, hold a position for several days, and then get unexpectedly hit by unforeseen factors. Technical analysis is correct, the trend judgment is right, so why are you still losing money? The real issue isn't the market itself, but the set of "rules" behind it that you haven't fully understood.

A typical example: a trader insists on being bullish, holding a position for four days, with the trend completely correct, yet they get wiped out by funding fees, losing over 1000 USDT, and finally get liquidated. When the market takes off, all they can do is watch helplessly. This is the power of the rule killer.

**Funding Fees — The Most Overlooked "Invisible Killer"**

Many traders focus on the ups and downs of K-line charts but completely overlook how funding fees slowly eat away at their principal in the background. This fee is settled every 8 hours: longs pay shorts, shorts pay longs. When the rate is positive, you pay; when negative, you receive. Imagine: holding a full-long position, even if your direction is correct, being charged hundreds of dollars in funding fees over two or three days, and your account balance still becomes risky. By the time the market surges the next day, you might have already been liquidated.

How to avoid the pitfall? First, don't hold large positions during high funding rate periods. Second, don't keep positions open for more than 8 hours (especially during high-rate periods). Third, think in reverse whenever possible — stand on the side of funding fee counter-trend, and save where you can.

**Liquidation Price Is Not the Number You Think**

Many believe that with 10x leverage, only a 10% drop will liquidate them, but in reality, they get liquidated after only a 5% decline. Why? Because the platform's liquidation cost and fees are not free; these factors lower your actual liquidation threshold. The number you calculate is just a theoretical value; in practice, liquidation occurs earlier.

The straightforward solution: never hold full positions. Use isolated margin mode to protect your principal, keep leverage between 3x and 5x, and reserve more margin to leave yourself an escape route. Even if volatility spikes, you'll be able to withstand it.

**High Leverage Is a Double-Edged Sword**

100x leverage sounds exciting, but the hidden costs are astronomical — fees and funding costs are calculated based on borrowed funds. Even if your direction is correct and you make a few hundred dollars, various fees at settlement could swallow all your gains or even cause you to lose money.

The truth is: high leverage is only suitable for ultra-short-term trading. Lower leverage is the way to go for long-term positions. The higher the leverage, the greater the risk; don't be impulsive.

**Core Logic: Shift from "Betting on the Market" to "Understanding the Rules"**

Making money with contracts is never about how often you guess the right direction, but about understanding every detail of the platform's rules. Exchanges are not afraid of you losing money, but they definitely don't want you to figure out their tricks. To survive longer and earn steadily, don't just focus on betting on price movements; master the "rules of the game." Funding fees, liquidation mechanisms, fee structures — grasp these, and you'll be able to truly control your risk and achieve consistent profits.