When I checked the position size record in the early morning and saw the account balance drop from 50k to 5k, it felt like my stomach had been hollowed out.

This kind of thing happens every day. It's not some dramatic exception, but rather the most routine script in the contract market. Today, we won't discuss those technical indicators that seem professional but are actually useless, nor will we engage in pointless predictions of "it might go up or down"—let's talk about those invisible nooses on the trading interface.

What's worse is that these things are even more damaging in a bull market. In a bear market, at least you have an idea of the losses; in a bull market, being liquidated is truly unexpected.

**The funding rate, at 0.05%, seems harmless to humans and animals.**

But you have to understand that if the platform shows a positive fee rate for several consecutive days, it is definitely not a signal for free money. Last year there was a week of continuous positive fee rates, and the group was filled with voices saying "Charge! Charge! Charge!" What was the result? The next day, the market turned over like a book, and those who had just opened positions the day before were directly buried, and there was no time to stop the loss.

The logic of this thing is very simple - the longer it stays red, the more biased the market sentiment becomes, and the backlash will be more intense. It's not a benefit, it's bait on a fishing rod.

**Let's talk about the liquidation price issue**

Many people think that with 10x leverage, you have to wait for the price to be halved to get liquidated, right? The reality is that a drop of 4.8% can be game over for you.

Why? Because the calculation formula hides details like maintenance margin and transaction fee losses. What you see as "10 times" is just the nominal leverage; the real safety margin is much thinner than you think. Many novices fall into this trap - they clearly feel there is still distance, but their Position is directly cut by the system, leaving them with no reaction time.