Caution is always correct. Below is a summary from a fellow crypto enthusiast, written with blood, sweat, and tears.

Seven years in the crypto world, having lost an initial 8,000 capital before stabilizing profits. Today, I condense my blood-stained account into a few sentences. Read it and then decide whether to jump into the fire pit.
1. Liquidation is inevitable sooner or later. The probability of a single liquidation is 0.1%. Doing it a thousand times, the overall liquidation rate is 63%; two thousand times, 87%. The higher the leverage, the faster the risk of liquidation accelerates exponentially. I had three liquidations in one night—when I closed my eyes, only a screenshot of my account remained.
2. Fees are hidden knives. A 50% win rate isn't enough. For a thousand trades, a 0.1% fee first erodes 10% of the principal. In 2022, I made an 8% profit, but paid 11% in fees, ending up with a 3% loss. Later, I only traded thirty times a year, which helped preserve my capital.
3. The road to recovering losses is far more brutal than imagined. Losing 50% and then earning 50% only leaves 75% of the original capital; losing 90% requires a ninefold increase to break even. Leverage only amplifies risks, and losing control emotionally accelerates the zeroing out.
4. Only three types of winners survive: small funds short-term trading, high profit-loss ratio traders, and the rare lucky roll-over traders. I choose to be a high profit-loss ratio trader, with single-trade risk ≤2% and profit-loss ratio ≥1:3. When the market is unclear, stay out of position.
5. Three harsh truths for beginners: stay in spot trading for half a year before touching leverage; divide your capital into 20 parts, risking only one part at a time; always take notes on each trade and review weekly. Futures are a mirror reflecting greed and fear. The market shows no mercy to newbies; it only rewards those who follow rules, spend time building systems, and maintain discipline to get a share of the pie.
I only do real trading, not virtual. If you want to be steady, avoid pitfalls, and profit steadily, don’t walk alone in the crypto world. Keep up with the rhythm,