Why You Absolutely Should Not Use Leverage? A Simple Summary:

1. Pure speculative products are extremely volatile, with no fundamental support. Once the tide recedes, there will be no more high tides.
2. Using leverage and taking the wrong position can easily lead to liquidation. Trading is a long-term activity; a few successful trades don't mean much. Leverage only amplifies volatility, not profits.
3. It might start with a small loss, leading to complacency. When faced with a big loss and realizing the danger, it might be too late. I closed my position around 100,800 in Bitcoin with my eyes closed, thinking the loss was huge. Looking back now, it’s okay because I cut my losses; after selling, the price plummeted straight down to 80,000 in less than half an hour before rebounding. If I hadn’t cut my losses, I might have suffered severe mental stress. Not to mention the recent drop to 60,000—if I had stubbornly held on, I would have definitely gone bankrupt. Exchanges are still constantly promoting contract traders, but these actions are malicious and harm one’s good fortune!