On my second day of trading contracts, I lost several hundred USDT and got completely liquidated. My mind is still blank right now.

Yesterday, watching the market go up, I impulsively went all-in on short positions. When the price hit 0.55, I panicked—my liquidation price was 0.7, and my account balance was shrinking by the second. After finally waiting for a pullback, not only did I not reduce my position, I even added a few more shorts.

Greed is truly terrifying. At the time, I was only thinking about profiting from the pullback, completely forgetting that the market makers could pump it again. Sure enough, a second surge came just a few minutes later, and with my 11 positions, I didn’t even have time to flip. Adding to my position earlier pushed my liquidation price down to 0.6, and my total position size reached several thousand coins—every tick meant a $100 fluctuation.

My hands were shaking badly. I’d never experienced this before, and in my panic I managed to find the close position button and cut half my holdings. Right after I closed, a third wave hit, and the U-shaped reversal on the candlestick chart, combined with the long signals, was really scary.

Tonight, the market gave me a harsh lesson. I closed out everything and need to calm down.

I have a question for the experienced traders: if my wallet balance had been larger at the time, could I have survived that pump? I noticed that as the position size increased, the liquidation price did go down, but how exactly should I operate to avoid this situation?