#ETH走势分析 In four days, my account went from $20,000 to $210,000, then in two days it all went to zero—that was the tuition I paid seven years ago.

Back in April 2018, I had just started trading gold contracts. Because I’d previously played US stocks and was mixing in financial circles, I thought I was naturally gifted. Demo trading? Not a thing—I went straight in with $20,000 in real cash.

I got the direction right on my very first trade. The feeling was like having cheat codes; I stared at the screen until my eyes were bloodshot, downing cup after cup of coffee, barely sleeping for 96 hours. Every time I closed a trade and saw those numbers jump, my adrenaline spiked. After four days, I looked at my account balance—$210,000.

When you’re extremely excited, you lose all rationality. At the time, I had only one thought in my mind: if I could 10x, why not 100x?

So I maxed out my position size, used 400x leverage to the limit. Opened and closed trades constantly, with no regard for any strategy—it was all about going all-in. Any slight market movement made me itch to trade, every K-line fluctuation made me want to jump in.

Two days. In just 48 hours, when the liquidation notice popped up, I stared at the screen in a daze for half a minute.

What’s even more ironic is that three days later, the price went right back to my entry point. If I’d sized my positions properly and could’ve withstood that retracement, I could have walked away unscathed. But when it comes to trading, the last thing you need is “what if.”

It’s been so long since then, and I’ve come to realize a few things:

**Most people don’t lose money because they get the direction wrong, but because they can’t handle the volatility.** Why can’t they handle it? Either they have no confidence in their own operations, or their position management is a complete mess—they have no idea what their risk tolerance actually is.

**People with little capital are the most likely to fall into the “get rich quick” trap.** The less money you have, the more you want to use high leverage to turn your fortunes around overnight. All kinds of investment salespeople and certain influencers are always painting you a picture, promising “zero risk and high returns.”