A certain exchange recently launched a pretty magical feature - the Get Liquidated points system. The name is even more amazing, directly called "Maji Mode."

Why is it called this name? Because there was a trader who got liquidated 71 times this month, so the platform simply named this feature after his nickname. The rules are simple and straightforward: every time you get liquidated, you can earn some points. It sounds like it's encouraging everyone to get liquidated a few more times.

Speaking of this buddy, his story is really representative. Last year, he made 45.66 million USD through a series of contract operations, and at that time, many people in the circle regarded him as a god. What happened next? He continuously hit landmines and not only returned all the profits but also lost an additional 17.55 million. From heaven to hell, it only took a few months.

Many people online are just watching the fun and think the platform is engaging in dark humor. But what I want to say is that the warning significance behind this matter is much more important than the joke itself.

The contract market never distinguishes between beginners and veterans; when it's time to harvest, no one can escape. I've seen too many cases: when account numbers rise rapidly, everyone thinks they are the chosen ones; but when the pullback comes, they realize that the profits they made before were just on paper.

What is the most fatal aspect? The lack of a stop-loss concept. If a trader can get liquidated 71 times and still continue, it’s either an inflated sense of confidence that is out of control, or they are trapped in the "break-even trap"—the more they lose, the more they want to turn it around, and the more they try to turn it around, the more they lose. This mentality in the face of high leverage is nothing short of chronic suicide.

The platform has introduced this model, which on the surface seems to provide some psychological compensation to users facing Get Liquidated, but in reality, it accurately captures the gambler's psychology of speculators. Newcomers should not rush to enter just because they see a new gameplay, and veterans should not assume that their experience with big ups and downs guarantees their success.

This market creates wealth myths every day, but more often it's the silent disappearance of cannon fodder. Those who fantasize about making a quick turnaround through contracts often suffer the worst falls. This is not just my opinion; it's a hard truth verified by the blood and tears of wave after wave of retail investors.

Remember one thing: in contract trading, surviving is ten thousand times more important than making big money. Don't let yourself become the next case written into a joke.