Having worked in this industry for ten years, the most common question I get is "How many times should I open a perpetual contract with?" Every time, my answer surprises people—because the real key to winning isn’t about the multiple itself.

The magic of perpetual contracts lies in their lack of expiration date, giving you the flexibility to enter and exit at will, while also tempting you with leveraged amplification. But leverage is like a double-edged sword; held correctly, it’s a wings, held wrongly, it’s a shackle.

Many people make a cognitive mistake: thinking that low leverage is safe and high leverage is dangerous. In reality, the fundamental difference between 30x and 100x leverage is just the market’s response time window—either more relaxed or more tense. What truly separates winners from liquidations is always position management and margin reserves.

Imagine using a few hundred dollars to control a position worth tens of thousands; any slight wind can shake you out. The most regrettable moment isn’t misreading the market direction, but having the direction right and still being washed out in the oscillation.

Therefore, the core skill in trading isn’t about "opening with the highest leverage for fun," but about how to manage risk. These ironclad rules must never be broken:

First, always use isolated margin, never cross margin, to keep each trade’s risk independent and isolated.

Second, set disciplined stop-loss orders—don’t rely on holding through to recover losses—because that’s a direct path to liquidation.

Third, set a realistic daily goal. For example, with 500 bucks of capital, earning 50 to 100 bucks daily and then stopping. It may seem insignificant, but the steady accumulation of small, consistent gains through compound interest is the secret weapon to outperform most people. Over a month, that’s a 20% to 40% return, which is already top-tier in the financial world.

Leverage is like a magnifying glass; it amplifies not only your gains but also your discipline, greed, and execution ability without change. True veterans understand: liquidation is never caused by the market itself, but by psychological breakdown. Those who can control 100x leverage tightly are much safer than those who casually squander 5x.

Leverage itself has no absolute "reasonable value"; it only depends on whether it fits your cognitive level and capability boundaries. The real devil in the crypto world is never leverage itself—it's greed.