After witnessing the massacre of 1011, I finally understood what it means to evaporate in an instant.

No matter how small the leverage is, it can still be wiped out in extreme volatility. What does it matter if those legendary trading gods win nine out of ten battles? One misstep can lead to total loss. Didn't those bloggers who used to post daily in the square all go silent that day?

This is also the reason why I absolutely do not allow team members to open contracts. If spot trading gets stuck, it can still be endured, waiting for the next cycle to break free. But what about contracts that are liquidated? You can't even recover the principal.

This market can indeed help ordinary people turn their fortunes around. But don't forget, it is essentially an arena for capital. From the hits on 312 to 519, and then to 1011, I am increasingly convinced of one thing: one must have a sense of reverence for the market, and not rely on luck.

Being alive is more crucial than pursuing financial freedom. #ETH走势分析 $BTC $SOL

ETH8.63%

BTC6.83%

SOL10.97%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

12 Likes

Reward
12
7
Repost
Share

Comment

0/400

GateUser-1a2ed0b9

· 12-02 10:00

Really, that wave on 1011 directly woke me up from so many fantasies. Watching my account go to zero, that feeling... is even more painful than losing money itself is that sense of powerlessness. Now I too, I don't even touch contracts. My frens say I'm conservative, and I just smile. Isn't it nice to be alive? Why do I have to gamble on that big pump? But to be honest, there are still people who made money. It's just that most people can't see those accounts that quietly died.

View OriginalReply0

DegenWhisperer

· 12-02 05:41

No, that wave at 1011 was really amazing, the feeling of watching the account drop to zero... is more frustrating than losing money.

View OriginalReply0

AlphaWhisperer

· 12-02 05:41

The 1011 wave was truly shocking, contract players just vanished. No matter how low your posture, you can't escape; it just depends on your luck. Staying alive is the most important thing; this saying is not just a cliché. Contracts are gambling, and I advise people not to touch them. In the game of capital, retail investors are just suckers. An extreme fluctuation wiped everything out, it's too harsh. Respect the market, don't be overly confident. Spot waits for cycles, contracts wait for bankruptcy. After 1011, who still dares to claim they have a sure win?

View OriginalReply0

MEVHunterBearish

· 12-02 05:36

The 1011 wave was really a nightmare. Fortunately, I didn't use leverage; otherwise, I would have been liquidated like those experts.

View OriginalReply0

PumpStrategist

· 12-02 05:31

To be honest, when the pattern of 1011 formed, the chip distribution was already very strange, yet there were still a bunch of people going all in... Now they are still talking about having a sense of awe, it's ridiculous. Holding Spot through cycles is indeed a probabilistic strategy, while contracts are just giving away money. Just look at the trading volume to know how crazy the sentiment was that day. Those who claim to win nine out of ten should have understood by now, one liquidation can wipe out all profits, isn’t that risk release? This is also why I never let my subordinates operate blindly; coming back alive is worth more than anything.

View OriginalReply0

MevShadowranger