The phone call at two in the morning is the most heart-wrenching.

On the other end of the screen, the trader in Xiamen spoke with a trembling voice: an account of six thousand dollars has gone to zero overnight. With 5x leverage, the market only retraced by 3 points.

He sent over the trading screenshot—fully invested without stop-loss, and he didn't even take the most basic precautions.

Many people mistakenly believe that "full position" can accelerate wealth accumulation. In reality, this sets themselves up for a liquidation position.

The real reason for liquidation is not the high leverage ratio, but the uncontrolled position ratio.

Look at two sets of comparisons:

Assuming an 800U account. Using 750U to open a 5x long position, a 6% reverse market fluctuation would wipe it out. However, if only 75U is used to open the same multiplier, a reverse market fluctuation of 86.7% would be needed to lose everything—risk tolerance differs by more than ten times.

The trader from Xiamen used 96.7% of his principal, and with leverage, he was taken out as soon as the market took a slight breather.

This year, I tracked over a hundred contract accounts and summarized three operational principles that can help survive:

**Single investment should be controlled within 7% of total funds**
An account with 6000U should not open a position exceeding 420U each time. Even if a 7% stop loss is triggered, the actual loss will only be a little over 29, which is not too damaging.

**Single loss limited to 1.1% of total capital**
Use 420U with 5x leverage, set a 1% stop-loss point in advance, the actual loss is about 8.4U, which is equivalent to 1.1% of the total funds. Stop the bleeding in time to avoid deterioration.

**Don't act on market trends you don't understand**
Not every fluctuation requires participation. Only enter the market when there is a clear breakout on the daily chart, accompanied by a corresponding increase in trading volume. Ignore most of the noise and focus on a few certain opportunities.

I met a trader who had previously been liquidated every month. After strictly following these three rules, he turned 3200U into 55000U in four months. He later said, "I used to think that being fully invested was just gambling on luck, but now I realize that true full investment is about giving yourself a chance to participate in the next market movement."

The market is not lacking in gamblers; what it lacks is participants who can endure through the cycles.

If you are also tired of the cycle of liquidation - depositing - and then liquidation again, perhaps it's time to reassess your position management.