#MSCI未排除数字资产财库企业纳入范围 Recently, cryptocurrency prices have been highly volatile, and I've seen many news reports of traders getting liquidated. I want to have an honest talk with the new friends here—how exactly should one set stop-losses?

To be honest, most newcomers don't take risk management seriously. But anyone who has been in this market for a few years has been painfully taught that the most important rule is: risk control always comes first.

Why is that? The harsh reality is—no one can guarantee they will always make the right judgment in this market. Without a stop-loss shield, no matter how many wins you accumulate, they don't count if a big mistake happens; a single major misjudgment can wipe out everything. If spot holdings go to zero, so be it; but not setting a stop-loss on a futures contract can really send your trading career straight to the grave.

The essence of setting a stop-loss is to cultivate trading discipline. Here's a practical tip for beginners: if you still don't understand where to place your stop-loss, don't overcomplicate it—try using a symmetric take-profit method. For example, if you buy BTC at $10,000 and aim to take profit at $12,000, then set a stop-loss firmly at $8,000. Once you've decided on the level, don't change it—discipline is key.

Once this habit is truly ingrained and you find your hit rate is decent, then gradually upgrade to the next stage—learning to think at support and resistance levels. If the bulls break support, close the position decisively; if the bears hit a previous high, it's time to exit. Improving your risk-reward ratio with each trade will help your trading career last longer.