The day before yesterday, a trader who has been trading with me for a long time came to me with a very heavy tone. He said something that really hit home: "I didn't get the direction wrong, I held on for several days, but in the end, the funds gradually ate away at my position, and only when I got liquidated did the market finally take off."

I told him the truth: "You didn't judge incorrectly; you were harvested by the rules."

Many people trading contracts assume the logic is— as long as the direction is right, you will make a profit. But the reality is not that simple. What truly determines whether you can survive is often not that single candlestick, but the details you usually overlook.

There are several invisible knives in contract trading that can unknowingly drag you down.

**Funding fees are the first knife.** They seem insignificant, but in fact, they are a form of chronic bleeding. No matter how right your direction is, as long as you are on the unfavorable side, over time, your principal will be drained little by little. Many people suffer losses not because they are wrong about the market, but because they are "dragged" down.

**The illusion of the liquidation price is the second knife.** You think you still have plenty of room to maneuver, but in reality, fees and slippage have already been quietly factored in. On the surface, it looks like you're still far from the liquidation point, but in fact, you're already on the edge of a cliff.

**High leverage is the third knife.** It is never a shortcut, only an accelerator. It amplifies your gains but also multiplies all costs. When the market fluctuates slightly, you disappear.

So, the people who can truly go far in this market are not mainly relying on how accurate their predictions are, but on how well they understand the boundaries. Knowing when to act, when to stop, and when to let the rules work in your favor.

The market isn't really afraid of you making money. What it truly fears is that you can stay steady after understanding it. The path itself isn't complicated; what’s complicated is whether you have the ability to follow the rules and walk the path to the end.