Why should you never use leverage? Here's a simple summary: 1. Purely speculative products have extreme volatility, with no fundamental support. Once the tide goes out, there’s no guarantee it will rise again. 2. Using leverage in the wrong direction makes it very easy to move toward liquidation. Trading is a long-term operation; a few successful trades mean nothing. Leverage only amplifies volatility, not profits. 3. At first, it might just be a small loss, but complacency can set in. If you encounter a big loss and realize the danger, it might already be too late. I closed my Bitcoin position at around 100,800 without hesitation, even though the loss seemed huge at the time. Looking back now, I’m glad I stopped the loss because less than half an hour later, it plummeted straight down to 80,000 before rebounding. If I hadn’t sold, I would’ve suffered extreme mental anguish. Not to mention, it dropped to 60,000 a few days ago—if I had held on, I’d definitely be bankrupt by now. Now exchanges are still constantly promoting contract traders. These actions are pure evil and will harm their karma!