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I entered the crypto space early and witnessed a tragic story of an old trader firsthand. He used two months’ worth of salary and pressed 100x leverage to go long on Bitcoin. The market moved less than 1%. He didn’t even have time to take a screenshot before his account was completely wiped out. It’s not that the market is cruel; it’s that he cut the safety belt with scissors himself.
I want to explain the deadly traps of the futures market in the simplest way possible. Because surviving in this market is the real skill.
**Leverage is an amplifier, not a money printer**
What do beginners love most? Starting with 50x or 100x leverage. The reason is simple: "Big volatility means quick profits." Sounds reasonable, but the essence is completely opposite. The only thing leverage does is—amplify your risk. When the market moves 1%, using 100x leverage, you either double your account or wipe it out. This isn’t trading; it’s gambling.
My own approach is very simple: I never use more than 10x leverage. For beginners? 3 to 5x is enough. Some say this is cowardly, but I say it’s giving yourself a chance to correct. The benefit of low leverage is that when prices fluctuate, you can still calmly analyze the trend instead of being forced to panic sell at liquidation prices. Winners in a long-term game never rely on a single all-in move.
**Stop-loss is not giving up; it’s leaving the battlefield alive**
“Wait a bit longer, it will definitely rebound”—how many stubborn accounts have been buried by this phrase? Not setting a stop-loss is like driving without a seatbelt. You may be confident, but an accident can happen in an instant.
I’ve seen the most heartbreaking real case: a trader was bullish at $60,000 Bitcoin, and when it dropped to $58,000, he kept holding—firmly believing it was just a technical correction. The price kept falling to $40,000. Not only did he lose all his principal, but because he was fully leveraged, he also owed money to the exchange.
This is the consequence of not having a stop-loss. The market won’t ask about your feelings; it will just keep going its own way.
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Have you set your stop-loss? If not, don't play futures, really.
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Chicken? I think that's called staying alive. Is there a problem with that?
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"Definitely rebound," and then there's nothing afterward. I've heard this story hundreds of times.
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Take it slow with 3 to 5x leverage; it's a hundred times better than going all-in with 100x, it's that simple.
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If you drive without wearing a seatbelt and something happens, it's not the road's fault, it's your own matter.
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The market is doing its thing, your account is already gone, that's the difference.
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Newbies love to hear a story and then turn around to continue with 100x. I really can't do anything about it.
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Living to leave the battlefield is winning, understand?
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I've seen too many accounts disappear overnight, all for the same reason.
Really, I've seen too many stories of people dreaming of getting rich overnight only to have their accounts wiped out
Staying alive within 10x leverage is the longest, greedy ones have all become the exchange's cash machines