A few days ago, I came across a quant trader's ETH strategy, which had a stable profit record for 15 days. It was quite impressive, and the leverage wasn't too high—three times the return looked pretty tempting. Later, I heard they improved their trading model to become more robust, and since there was an opportunity to copy trades with some capacity expansion, I decided to give it a try.

What happened next? I woke up to find my position liquidated. The whole process was actually quite simple—seeing others' profits makes you tempted, but you don't think through your own risk tolerance. Leverage is like that; even at lower multiples, in a big market trend, it's just paper tiger.

Later, I reflected on it and realized the problem wasn't with copying trades itself, but with my complete lack of prediction for market volatility. Quant strategies work well within stable ranges, but when extreme market conditions hit, that's another story. This was a real lesson—no matter how beautiful others' profit curves look, you first need to ask yourself if you can withstand the corresponding drawdowns.