#我的Gate交易时刻

That night I learned to respect the market

In the middle of September 2025, during a late-night session, ETH's price plummeted 12% within four hours, and my 5x leveraged long position was liquidated at 2 a.m. When the notification popped up on my phone, my 32k yuan principal was down to less than 1,000 USD. I had opened the position at an average price of 3650, confident that it would hit 4000, not only full-sized but also adding margin. The market, however, taught me a lesson in just four hours: the more certain you are, the more likely the market will slap you in the face.

After being liquidated, I was unwilling to accept it. The next day, I used the remaining money to go all-in again, trying to "recover my losses." Long positions got stopped out, so I reversed to short; shorts hit stop-loss, then chased the market, buying high and selling low. Within a week, I made 31 trades, paying over 1,000 in fees, and my account was down to less than 300. The essence of frequent trading is emotional out-of-control, and the root cause of that is unwillingness to admit mistakes.

After the market closed, I did the only right thing: exported all my trading records for review. The result was painfully clear—before liquidation, all my heavy positions were based on subjective guesses; after liquidation, all the frequent trades were driven by gambling mentality. I had never done any risk budgeting for any trade.

Later, I started rebuilding my trading discipline. No single loss should exceed 2% of total funds, leverage kept within 2x, only one trade per day, and before opening a position, I had to clearly write down three reasons and a stop-loss level. Now my account is slowly recovering, and more importantly, I no longer panic during big drops—because my positions are light, stop-losses are early, and losses are manageable.

I re-understood long-termism: it’s not about holding onto a certain position without moving, but about trading in a way that always keeps you in the game. The market never lacks opportunities; what’s lacking is the capital to seize them when they come. One big liquidation is enough because it taught me not just about technique, but about respect.