Managing liquidation exposure effectively is key to maintaining consistent trading performance without taking unnecessary penalties. Perpetual contracts have become increasingly sophisticated as a trading instrument—they're far more nuanced than simple meme asset speculation. What sets them apart is their ability to capitalize on market sentiment shifts and volatility spikes. Traders who understand how to work with these sentiment-driven price movements can unlock real edge in derivatives markets. The strategy isn't just about taking positions; it's about reading the room and positioning accordingly.