I was originally dealing with other annoying issues when I suddenly glanced at my position and saw that TAKE had directly triggered an ADL. The feeling at that moment was just one word:绝。

A 200x loss, talking about it still brings tears. Sometimes it's really not that your operations are overly reckless, but that market volatility can instantly blow up your position. Especially when encountering mechanisms like ADL, you don't even have time to react.

Looking back now, that experience can be considered a "tuition fee." Although it was painful, it also truly made me realize—holding positions must be cautious, and leverage is something that can easily lead to a crash if played recklessly. Friends around me have also experienced similar situations; consider it a necessary step toward becoming a mature trader.

What I want to share with everyone is: the market will never give you buffer time just because you're distracted, and risk management is really not just talk.