A $2.4 million trading position with 40x leverage—have you truly understood the risk factors behind it? Such ultra-high leverage operations frequently appear in exchange data and often indicate a market participant's aggressive attitude. When the capital size encounters extreme leverage multiples, even minor price fluctuations can trigger forced liquidation. Interestingly, these trading signals often appear at points of intense market volatility. Experienced traders need to deeply understand the trade-off between the expected returns and the probability of liquidation behind high leverage.