The underlying logic of #美联储回购协议计划 contracts is actually very simple — using leverage to amplify the price fluctuations of spot trading. $ZEC

This leads to two outcomes: profits come quickly, but losses can make you regret it just as fast. The problem is that many people jump in without really understanding the rules of the game.

For example, funding rates — most beginners ignore them. During positive funding rates, many chase long positions, which is actually paying a "toll" to the shorts; during negative funding rates, which are everywhere, it often indicates that market sentiment has already deteriorated. Still chasing short positions at this point involves risks that are much greater than you think.

Leverage is like a telescope — it magnifies everything, including your advantages and deadly flaws. 3 to 5 times leverage is enough to feel the market’s volatility; opening positions with ten times leverage or more is basically gambling your capital on luck.

My own trading approach is very fixed: first confirm the direction, then choose the entry point. If the big cycle trend is against you, even short-term opportunities are just practice. Look at the daily chart, observe moving averages, reference MACD, and understand the overall trend — this is much more effective than just watching the order book fluctuations.

More importantly, think about your exit before entering the trade. Cut losses without hesitation if you’re wrong, and lock in profits when you’re right. Orders without stop-losses are just waiting for the explosion time to come.

Take profits early — it’s not weakness, but a way to stay alive. Market waves will always come again, but if your account is wiped out, you won’t have any opportunities left.

In the contract game, it’s never about who makes the fastest profit, but who can keep participating. Don’t rush to show off your moves; first, protect your capital. The signals that matter will come naturally.