When I was woken up by a phone call at #数字资产代币化浪潮 in the early morning, I thought it was a scam.

As soon as the call was connected, a tearing voice came from the receiver – it was Awen from Guangxi, a friend I've known for three years. He usually doesn't say much, but this time he was really anxious.

"Seventy thousand dollars... just gone like that."

I told him not to rush and to send the transaction screenshot first.

Upon opening: $ETH long position, 100x leverage, fully invested, no stop loss line. Pullback range? Just 5 points.

With just a 5% fluctuation, the account goes directly to zero.

After hanging up the phone, I sat by the bed and thought for a long time—Awen is not a novice; his accuracy in reading directions is actually quite good, and his technical analysis is passable. But he fell victim to a fatal issue: **the lack of position management**.

Many people mistakenly believe that "high leverage = high efficiency", thinking that with a small principal, they should go for a big bet.

But the crypto market never follows this script.

When you risk everything in the market, the fluctuations will teach you how to be a person.

A 5% pullback may just be a daily fluctuation in the spot market, but for a contract account with a hundred times leverage, it's a death sentence. This is not the market's fault; it's you who have pushed yourself to the edge of a cliff, and any gust of wind can make you fall.

I have seen too many similar cases:

The direction was right, the rhythm was also on point, but in the end, it was because the leverage was too high and the position was too heavy that there was no room for self-rescue. The market will not give you a "second chance"; it will only clear you out when you are the most impulsive.

Traders who truly live long understand one principle:

**Position is a lifesaver, not an accelerator.**

Market unclear? Try with a light position.
Increased volatility? Reduce leverage.
Always set a stop loss and leave yourself an exit route.

But most people don't believe in this system. They think that slow equals loss, stability equals cowardice, and they can't wait to go all in for instant financial freedom.

Then what?

The market will make you completely fall down at the moment you most want to "turn things around."

Ask yourself a question: Do you want to be the gambler who gets rich overnight and then goes bankrupt the next day, or do you want to be the player who slowly accumulates and ultimately laughs last?

Continuously pay attention to the fluctuation patterns of mainstream currencies such as $ZEC , but more importantly - learn to control your position, rather than being controlled by it.