Around a little after 2 a.m. last night, a brother sent me a voice message. His voice was already a bit off.

He said his principal was 8,000U, and he went long with 30x. The market just pulled back a few percentage points, and the account was gone immediately. He asked me what exactly went wrong.

I went through his records. Actually, one sentence can explain it all:

With more than 7,000U, he went all-in in one shot. Stop-loss? It doesn’t exist.

These kinds of trades—plainly speaking—aren’t trading. It’s gambling with your life.

A lot of people keep getting one thing wrong: they think liquidation is the fault of leverage.
But it’s not. Leverage is just a tool. What really kills you is losing control of your position size.

With the same 8,000U: if you use 1,500U to trade, and you’re wrong on direction, you still have room to adjust.
But if you shove everything in at once, and the market has a slightly normal fluctuation, you get carried out immediately.

After doing this for years, I’ve come to believe in one thing more and more:
Position size determines whether you can stay alive, and direction determines how much you can make. $TAC

My own approach is actually pretty “rigid”—even a bit boring:

First, each trade’s position size is never more than 20% of total capital. Whatever we agreed on is what it is—no exceptions.

Second, set the stop-loss before entering. I can accept a certain amount of loss—agree in advance, don’t change it on the fly.

Third, if the trend isn’t clear, I don’t trade. In a range-bound market, I’d rather sit there and blank out than reach out randomly.

There was a fan before. When he had 5,000U, he basically made one trade and lost one trade, getting liquidated again and again.
Later, he forced his position size down. The rules were set in stone. After a few months grinding slowly, he finally wore it up to over 8,000U. At least, he no longer went to zero.

A lot of people think going all-in is courage, it’s nerve.
But it’s not. Going all-in is gambling—gamb[ing] on when you’ll be eliminated. $EVAA

The most realistic thing in the crypto market is:
The market is never short of opportunities, but your principal won’t always be there.

Staying alive matters more than anything else.
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