Today I give myself one word: Stop. Last night, watching the narrative of easing expectations once again brought risk assets along for the ride, I got itchy and wanted to "sit back and earn fees" in AMM… But upon review, I realized market making is really not just lying around; when prices drift away, impermanent loss is like taking back the small fees you earned, essentially using volatility as your counterparty. When funding rates heat up and positions become one-sided, I even went to add liquidity pools. When a liquidation cascade hits and the curve slides, positions deform instantly, and my mindset collapses along with it. Better to stop first, pause for two hours, don’t keep refreshing the market when you’re hot-headed—doing any “stable profit” when your mind is heated is unstable.

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