Today, let's talk about a commonplace but enduring question in the cryptocurrency circle. What is a contract?

(ps All the opinions below represent only personal subjective views, and there is no absolute right or wrong)

For me, the contract is a game that is doomed to lose, because from a long-term perspective, there is only one winner in this game, and that is the casino (exchange).

After 312, it was my first time to "speculate in cryptocurrencies" in a real sense. The cryptocurrency circle is very far away from me, but I think BTC at $4,000 and ETH at $100 are very cheap, so I just bought them. At that time, I thought it was normal.

As the price of the currency rose, my self-confidence and greed continued to expand. At that time, someone helped me open Pandora's box and taught me to buy contracts for the first time. "Isn't the contract just about opening the size?" I thought so at that time. Ethereum was only $100 for me, and it couldn't be cheaper to gamble. I joined a bunch of so-called trading groups, and this teacher and that teacher shared the points every day. It seemed very simple to make money, until a needle appeared by chance and it was instantly cleared.

The first time you got liquidated is more like a daze than a pain. Your account suddenly goes to zero, and you don’t realize what happened.

At that moment, I understood that I was just a rookie, and the teachers were just rookies who were better at talking than me. In this game, everyone will win, but it is easier to lose. Only the exchange that collects the handling fee is the only winner.

Contracts and domestic violence have one thing in common, there are only 0 times and countless times. Liquidation does not mean learning, it only means temporarily quitting gambling.

Shorting $LUNA is the most and fastest time I made in the contract. I opened a short at 70 and closed it at 5 yuan. The bear market has just begun, and I have made a lot of money, enough for me to live a happy, stable and lazy life. "But the script will never be so smooth." FTX's thunderbolt, contract bottoming, FTT's ending is only one, zero.

At that moment, I woke up from my dream. Do you want to be a gambler forever? Only when you take the money off the table, you can really earn it. Otherwise, you will just repeat your fate, earning and losing, bull and bear markets alternate, and you will always be a gambler.

I really stepped off the table. Now I think about it and I am very proud of myself. It took me a moment to learn how to gamble, but it took me 2 years to step off the table.

Since the beginning of this round of bull market, I have achieved 80% spot trading and 20% wild trading. I have also done some contract operations, but they are all small positions with quick entry and exit.

"Today's contract is actually the same as buying meme for me. It's just a lottery position with a small bet for a big win, that's all."

Some people will say: If you manage your positions well and strictly stop losses, contracts can actually be very safe. I admit that he is partially right, but contracts are as addictive as white powder. You will only open bigger and bigger orders. You will only stop when it explodes. Besides, in extreme market conditions, the stop loss point is sometimes not reached, and the position has disappeared.

I hope everyone will look at contracts rationally. If you are not the chosen one, don't indulge in contracts, don't be greedy, and don't be unwilling.