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Having spent ten years in the futures market, experiencing countless liquidations and losses, I gradually realized a fundamental truth: contract trading is never about high-end techniques or mysterious indicators; at its core, it tests one’s mastery over human nature.
My first liquidation happened in 2017. Watching my account’s 10,000 USDT quickly wiped out was a moment I’ll never forget—the despair still lingers. I spent the entire night tossing and turning in bed, palms sweating. Subsequent liquidations came one after another like dominoes, and at my worst, I seriously considered quitting the market altogether.
But today, ten years later, I finally achieve consistent profits, with last year’s annual return reaching seven figures. This isn’t because I discovered some “ultimate winning secret” or black-tech indicator, but because I truly understood the logical rules behind contract trading.
**Most people misunderstand the concept of stop-loss**
When I first started trading futures, I was also told that “setting strict stop-losses is essential.” So I mechanically placed stop-loss orders everywhere, but the result was quite ironic—over half a year, just due to frequent stop-losses and slippage, I lost 8,000 USDT.
Later, I realized that stop-loss is merely one option in the risk management toolbox, and shouldn’t be blindly executed as an end in itself.
If your trading strategy has a high win rate, validated by extensive backtesting with positive expected returns, sometimes you don’t even need to pre-set fixed stop-loss levels. The key is whether your model is truly profitable.
But there’s a very important prerequisite: you must trade with small positions on mainstream coins. If you hold Bitcoin or Ethereum, leverage below 2x, and the trend line isn’t broken, you can give the price more room to move.
But it’s a different story with altcoins. Even with just 10x leverage on altcoins, not setting a stop-loss is basically suicide—an extreme market move can wipe out your account instantly. The liquidity and risk profile of these small coins are on a completely different level.
**A simple principle I’ve summarized: When trading Bitcoin and Ethereum with leverage below 2x, you can be more patient if the trend isn’t broken; but when it comes to altcoins, no matter how low the leverage, not setting a stop-loss is gambling with your life.**
The truth is, stop-loss is a joke for beginners; getting caught in it every day actually leads to more losses.
No stop-loss on altcoins? Bro, you're playing Russian roulette.
Using double leverage on mainstream coins feels pretty comfortable, but are you sure you can really withstand the pullback?
Human nature is indeed the key; technical indicators are all just tricks.
Holding back the urge to stop loss can be psychologically very stressful.
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Seven-figure annual returns sound impressive, but without looking at the drawdown rate, it's still just empty talk.
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Copycat coins are indeed easy to kill people with; that's how I lost mine.
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Whether to set a stop loss or not depends on how much drawdown you can tolerate; there's no absolute answer.
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The key is that most people haven't even validated a model before starting to fantasize about making money without setting a stop loss, which is ridiculous.
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Stable profits over ten years, what does that indicate? The cost is too high.
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Controlling human nature sounds simple, but in practice, who isn't bouncing back and forth in hell?
Not cutting losses on altcoins is really asking for death, but mainstream coins aren't that simple either. Even with 2x leverage, you can still be pushed to the brink of mental breakdown.
Frequent stop-losses are really tough; slippage and trading fees eat up profits aggressively. It’s better to hold mainstream coins steadily.
I can’t touch altcoins anymore; one massacre like that is enough of a lesson.
Having a strategy isn’t enough; the key is whether your mindset can hold up. That’s true skill.
By the way, I want to ask, is this seven-figure amount before or after tax...
It seems this guy just got lucky and caught the bull market.
Those who truly make money never come out to teach others; this is a law.
Seven-figure annual returns sound impressive, but it feels like it takes ten years to truly understand this.
That part about altcoins hit home—how many people just end the game because they didn't set a stop-loss?
Holding mainstream coins with a small position is the way to go; this guy is not wrong.
I just want to ask, in these ten years, what's the biggest loss from a margin call? How strong must your mentality be to endure that?
Ultimately, it's still human nature—greed and fear alternate, it's tough.