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There are two points I don't understand:
The first point is that a 500x leverage on gold doesn't seem that difficult. I see during live streams that people usually take three to five points at a time and then run. If I do the same, is it not embarrassing? With your big pot of three to five points, can I also dig in and take a spoonful?
The second point is, for example, if the principal is 5000U, and you take a 0.05 lot each time, which is 5 lots, then it needs to rise or fall by 1000 points for you to get liquidated! Based on the current gold price around 4600, adding 1000 makes it 5600. If you short, with 5 lots, you don't even need to take a loss; you're basically guaranteed to make money. Conversely, if you go long and get liquidated at 3600, if you can get liquidated, I’ll take back the spicy words from others and give them to you. Do you understand your principal? Understand the safe zones above and below? If you make a trade with 5000U and earn 200U a day, isn't that easy? Give yourself a month, and under the premise of not getting liquidated, double your principal. Look around the world—you're capable of surpassing Buffett with 180 Tesla cars, bending the curve, and you even earn more than the dogs barking in the square. Don’t look at me earning 100-200 a day; with that profit, in our Gate contract competition's public data, I am definitely a model student. And I’m doing this without fully understanding the logic of the 500x gold play. Honestly, I’ve been in crypto for nearly ten years, and for the first time, an outsider from our circle has taken my traffic. Originally, new products in crypto were meant to attract newcomers to Bitcoin, but instead, they displaced the locals.
I’ve been playing this 500x leverage for less than half a month, but logically, finding a safe line and controlling your position isn’t difficult. In other words, if you have 5000U principal and open 5 positions at 4600, with 30, 20, or 20 lots, totaling 20,000U in position size, you tell me—are these positions big or small? Or, if you don’t want to play with 500x, you can open 5 contracts in the futures market. Isn’t the logic the same? You could earn a hundred or two a day.