Recently, when reviewing trading records, I heard a trader's confusion: "I analyzed the direction correctly, why did I still get wiped out?" Staring at that liquidation list, I suddenly realized—the harshest reality in the crypto world is: correctly judging the direction is just passing the minimum; surviving and exiting is what makes you a winner.

**Correct direction ≠ account survival**

When Bitcoin plummeted from $126,000 to below $100,000, the entire network experienced liquidations totaling 12.3 billion USD within 24 hours. But looking beyond this number: 76% of the liquidations came from long positions, with the largest single liquidation exceeding $26 million.

This isn't because the market is fierce, but because leverage is malicious. Some trading platforms even offer 125x leverage, where a 1% price move can double your account or wipe it out. Leverage doesn't amplify profits; it amplifies human greed—buying the dip when prices fall, chasing the rally when prices rise, and a small fluctuation can wipe you out.

**Preserve your principal to have a future**

Experience tells me: anyone can profit in a bull market, but those who survive in a bear market and keep their principal are the true traders. There is a principle for rolling positions—principal is life, profit is the chips.

Step one, try a position to find the direction. Don't go all-in with 10,000 USDT; open a position with 5% (500 USDT), leverage at 3-5x, and set a stop-loss at 8%. Many think stop-loss is conceding defeat, but actually, it's buying insurance for subsequent operations. During the last XRP correction, a trial position lost 40 USDT, but this 40 USDT saved the principal for adding to the position later.

Step two, use profits to gamble. After a trial position gains 50%, take half of the profit to add to the first position, and when breaking through key levels, use the remaining profit to set up a second position. Always remember: new positions only eat profits, never touch the principal.

Leverage is an amplifier; no matter how strong your skills are, it can't withstand a losing mentality. The longer you survive, the more you earn.