Most contract liquidations and zeroing out happen starting from a single phrase: "Just wait a bit longer."

If you're hesitating, reluctant to cut, and afraid of further losses, that's the typical psychological point before being completely trapped.
Heavy position, losing so much that you feel anxious and can't sleep:
Reduce your position immediately, don't hesitate.
Light position, not losing much but your mindset is already chaotic:
Cut your losses and exit, take a few days to rest.
Losing small amounts is manageable, but a shattered mentality is the real loss.
If you're approaching the liquidation threshold and another drop could trigger a liquidation:
Reduce or close your position immediately, don't gamble on a rebound.
The market won't sympathize with you, and it won't rally just because you're upset.
After exiting, don't reverse your position or revenge trade.
Close all positions first, stay calm for 24 hours before looking at the market again.
Your current judgment is entirely driven by emotions and the main market forces; whatever you do is wrong.
Don't be stubborn—listen to advice, only then can you stand back up.