Ever since the contract liquidation, I haven't touched leverage again. To be honest, if the principal is sufficient, the returns from spot trading are actually enough. I previously traded contracts purely to find something to do.

That period lasted about two years. Initially, I used ETH as the base currency, but in the end, I lost nearly 70 ETH. Later, I switched to USDT as the base, and after repeatedly flipping, I lost another 40,000 to 50,000 yuan. Every day I’d wake up and study technical indicators, thinking I was pretty awesome when I made a move. But what happened? I lost everything in a mess.

The most ironic thing is, the first pot of gold I earned from spot trading was actually gradually eaten away by contracts. Contracts are really easy to lose control over. Those pre-set rules, once you make some money, you forget all about them, and greed starts to take over.

My current strategy is very simple: yesterday, I basically cleared all my spot holdings, leaving only a small bottom position for defense. When BTC drops to around 80,000 and ETH returns to the 2500-2700 range, I’ll buy back in. If the price isn’t right, I’ll just wait. There’s no need to rush. Just relaxing like this before the New Year has actually made life much easier.