#大户持仓动态 Whales also got wrecked? In December, there was only one profit, yet they turned around and opened 25x leveraged short positions. This is just outrageous.

Many people fall into the same trap — a high win rate doesn’t mean they will survive until the end. This is the most painful truth of trading. Comparing two traders with 50% and 95% win rates, the former might survive longer than the latter. Why? Because a 25x liquidation can instantly wipe out all profits.

This brother’s experience in December perfectly illustrates what a "black swan" is. He won, but a single misjudgment, uncontrolled leverage, and his account was wiped to zero.

Breaking through and turning around isn’t difficult; what’s hard is to fix the habit of "adding more when I feel confident." If you don’t understand trading psychology, even a high win rate is useless. You first need to figure out whether you are trading or gambling.