The real dilemma of Contract Money-Making King: Why are the $47 million profit earners still cutting losses?

【Crypto World】On January 4th, top traders on a major exchange’s futures trading leaderboard all posted profits, and 0xPickleCati, a leading trader, shared an interesting phenomenon on social media. While everyone was discussing “exchange tokens skyrocketing today,” his positions were still underwater. Even more heartbreaking, he has given up on the idea of breaking even—he simply considers this loss as “tuition.”

But this guy’s overall track record is actually quite solid. His account has accumulated profits of over $47.21 million. It’s just that this recent trade clearly hit a snag.

Looking at his real trading positions, his approach is quite aggressive. He used 4x leverage to go long on BTC, currently with an unrealized profit of 2.37 BTC; at the same time, he used 5x leverage to go long on ETH, with an unrealized profit of 105.54 ETH. From the numbers, it looks profitable, but he mentioned his positions are trapped, indicating that these unrealized profits were built at higher entry points. Now, he is earning but not at the ideal price.

Interestingly, this kind of situation often occurs with top traders—they have impressive long-term performance, but their short-term mood swings can be more intense than retail traders. It’s not because their skills are lacking, but because they dare to take bigger risks. When they miss the market or timing is off, the psychological impact is much greater.