margin and leverage are not the same thing

people use these words interchangeably.
they're not the same. here's the difference:

margin is the collateral you put up to open a trade. it's your skin in the game.

leverage is the multiplier that controls how large your position is relative to that margin.

the trap: high leverage shrinks your margin buffer. a 1% move on 100x leverage = 100% of your margin gone.

one is how much you risk.
the other is how fast you lose it.
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