#美联储联邦公开市场委员会决议 $ZEC

How many times leverage should you open in perpetual contracts? This has been asked to me so many times over the years.

Let me clarify—leverage is not a money-making tool at all. Simply put, it’s a double-edged sword. When mastered, it can multiply gains; if not, it becomes a meat grinder.

The trap with perpetual contracts is here: because there’s no expiration date, theoretically you can hold a position forever without liquidation. It sounds incredibly free, but behind that freedom are all kinds of temptations—opening whenever you want, closing whenever you want, profit can be amplified, but so can risks.

A trader friend of mine told me recently that he often runs with 30～50倍 (times leverage). I asked him, why not just go straight to 100倍? He replied, "It blows up too fast." I laughed at that. Because once you use leverage, regardless of whether it’s 30倍 or 100倍, essentially you are walking on a knife’s edge. The different multiples only affect how much time the market gives you to react.

Taking BTC as an example: 30倍 requires 16U margin, 50倍 needs 10U, 100倍 only 5U. When the multiplier changes, the entire risk-reward structure is completely different.

1倍 is as stable as a rock, but as slow as a snail; 100倍 is like riding a rocket, requiring stop-loss and discipline—any shake of the hand or mistake could mean immediate liquidation. The real cause of liquidation often isn’t how high the leverage is itself, but rather chaotic position management and severe margin deficiency. Using hundreds of U in capital to leverage dozens of times can be knocked out by a small market shake. The most uncomfortable part isn’t just losing money—it’s having the correct market direction but being prematurely liquidated by routine market fluctuations.

The core message: perpetual contracts aren’t afraid of high leverage, but of not leaving any buffer for yourself. Margin must be able to withstand normal market volatility.

To avoid being ruthlessly educated by the market, these three bottom lines must be ingrained in your mind:

1️⃣ Only use isolated margin mode; never go all-in with your entire position casually.
2️⃣ Stop-loss is non-negotiable—doing it under the guise of "holding" is basically signing a contract for liquidation.
3️⃣ Profit targets should be realistic. With 5000U capital, making 50～100U daily steadily is good enough. The power of compound interest far exceeds your imagination.

In the end, leverage doesn’t amplify the market itself, but your mentality and execution. Most people don’t lose because the market is too harsh—they lose because they inflate themselves.

Finally, the most worth remembering: a disciplined 100倍 position has a much higher safety factor than a completely unprotected 5倍 position. Perpetual trading is not about luck; it’s about a systematic methodology.

Leverage tools are fine; losing control is the real problem.