You’re right. That AMM curve looks like easy money, but once you’re in, you realize it’s more like a slide. A few days ago I was looking at the UNI-V2 pool—when the price moved even a bit, I quickly calculated the impermanent loss. After I finished, I immediately closed the interface—forget it, no need to add more stress to myself.

In the group, these past couple of days everyone’s been posting screenshots of de-pegging. Stablecoin regulation news keeps coming one after another. I clicked in, glanced for a moment, and then backed out. Honestly, before, whenever I saw this kind of news, I’d be itching to do something. I always felt like I could catch the bottom. But now? I’ll see the trading volume first. If the structure hasn’t played out, even if the price goes lower, I won’t touch it.

I was just halfway through writing my entry thesis when I realized I hadn’t actually figured anything out, so I deleted it. You’re right—market making isn’t an effortless profit; impulse is the biggest trap. For now, that’s it. I’m going to close the candlestick chart and skim some headlines, so I don’t get carried away again.