#数字资产市场动态 Recently, I was chatting with an old hand in the circle, and he shared a heartbreaking trading story.

He said he didn’t actually get the direction wrong, but he just held on for a few days, and in the end, the funds gradually eroded his position. The moment he got liquidated, the market just happened to take off.

This is the cruelest truth of contract trading: you’re not wrong in judgment, but you’re being harvested by the rules.

Many people trading contracts only have one thought in mind — if the direction is right, you can win. But in reality? The real factor that determines your survival isn’t usually the K-line trend, but those overlooked details. These details are like hidden knives, silently dragging you away.

**Funding fees are the first knife.**

It seems insignificant, but in fact, it’s a slow drain process. No matter how correct your direction is, as long as you stand on the unfavorable side, over time, your principal is gradually drained. Many think they lose because of market judgment, but actually, they lose because of “dragging.” Persisting for a day or two is fine, but what about a week or two? Funding fees compound like interest, putting pressure on you.

**The second knife is the illusion of liquidation price.**

You see some space between your position and the liquidation price, feeling safe. But what you haven’t calculated is that costs like fees and slippage are already included. Those distances that seem “still far away” are actually on the edge of a cliff. An unnoticed market fluctuation can catch you off guard instantly.

**The third knife is the temptation of high leverage.**

It’s never a shortcut; it’s just an accelerator. While amplifying gains, it also magnifies risks, costs, and slippage. When the market dips slightly, your account balance can go from positive to negative.

So you’ll find that those who truly go far in contracts aren’t betting on predicting the future, but on understanding the boundaries of trading rules.

They know when to take profits, when to cut losses in time, and when to let the exchange’s rules work in their favor. It’s not some profound knowledge, but a clear awareness of oneself.

The market is never afraid of you making money. It fears that you understand these rules and can stay steady during execution. The path itself isn’t complicated; the hard part is whether you can truly follow it according to the rules.