Insilico Terminal Podcast

Explore the journey from accounting to trading, emphasizing how early luck paved the way for structured systems. Discover the benefits of specializing in Bitcoin and mastering its fragmented market. Learn about exploiting behavioral inefficiencies in trading, managing drawdowns through data, and the importance of discipline. Delve into execution tactics like limit scaling versus market chasing, and uncover common mistakes traders make. Wrap up with insights on sustainable growth and achieving long-term goals in trading.

Trader XO shares his transformative journey through trading, revealing how he transitioned from banking to trading during the 2017 bull run and faced the harsh realities of 2018. He discusses the staggering 90% trader failure rate, emphasizing the importance of risk management and embracing market uncertainty. The conversation dives into defining trading edge and expectancy, as well as the psychological aspects of managing emotions and recovery from losses. Insights into a structured 6-pillar framework, strategy creation, and leveraging technology like LLMs for an edge add depth to this compelling talk.

Joining the conversation is Average Reply Guy, a seasoned crypto trader and Crypto Twitter fixture. He shares insights from his trading journey starting in 2016 to navigating the 2021 cycle more strategically. Topics include his long-term swing trading style, the significance of narratives in trading, and a deep dive into Solana's potential. He emphasizes the importance of taking profits and avoiding echo chambers while balancing a job with trading. The discussion also touches on missed airdrops, on-chain experiments, and thoughts on the current market cycle, including late-stage signals.

Adam, known as Abetrade, is an experienced trader and Head of Trading at Breakout, a firm recently acquired by Kraken. He shares his journey from early binary options scams to trading German bonds and Bitcoin derivatives. Adam discusses transitioning from short-term scalping to longer-term swing strategies and the importance of using options for risk management. He emphasizes the significance of lifestyle balance, sustainable habits, and how prop firms provide traders with leverage while warning about associated risks.

In this episode, Scott shares his journey from a TradFi background to finding success in crypto’s early DeFi days. He breaks down momentum effects, on-chain inefficiencies, and how simple systems often outperform over-optimized ones. The discussion covers mid-frequency quant trading, partnering with market makers, and the psychology of trend following. Scott also opens up about burnout, mental health, and his personal story of redemption - ending with reflections on the future of systematic trading, vault design, and finding peace beyond success.00:00 Intro, Scott’s background in TradFi, pivot to crypto in 2019, and early DeFi summer success 07:08 Momentum effects in crypto, on-chain inefficiencies, and finding edge in smaller venues 20:18 Building systems, market-making hybrids, and why simple signals outperform optimization 26:00 Mid-frequency quant trading, execution costs, and partnering with market makers 35:00 Trend following as a career - psychology, losing streaks and Hyperliquid strategy 43:00 Burnout, mental health, taking breaks, and reflections on trading longevity 48:05 Life story - crime, jail, rebuilding through trading, lessons on risk and humility 52:29 Future of crypto and systematic trading, decaying edges, and institutional arrival 58:08 Vault design, momentum modeling, and cross-asset trend logic 01:12:00 Closing thoughts on money, wisdom with age, and the balance between success and peace

Nick Algo, a cryptocurrency trader and co-founder of Spreadfighter, shares his fascinating journey into the trading world. He discusses DOM scalping and his unique approach to order-book trading, unraveling breakout vs. knife-catching setups. Nick reflects on his transition to algorithmic trading, offering insights on building an algo fund during volatile markets. He emphasizes the importance of risk management and lessons learned from significant drawdowns, all while highlighting strategies for protecting capital and holding on to winning positions.

In this episode, Ponzi shares his path from early on-chain trading to joining Spartan Group, reflecting on big wins, losses, and emotional lessons along the way. He talks about the Hyperliquid airdrop era, shifting from altcoins to perps, and developing structured strategies in a team environment. The conversation covers trading psychology, DEX competition, public sales, and the evolving airdrop meta - ending with insights on adaptability, letting go of old bags, and staying sharp in changing markets.00:00:00 Intro, Ponzi’s background, getting into crypto and early trading years00:06:08 Big wins and losses - Rollbit, Trader Joe, emotional trading lessons00:10:25 Hyperliquid airdrop, airdrop farming mindset, and lessons from missed opportunities00:15:05 Transition to perps trading, shift away from on-chain alts, adapting strategy00:26:16 Joining Spartan Group - team trading, structure, learning valuation frameworks00:33:09 Trading psychology, loneliness, social aspects, and adapting over time00:38:11 Thoughts on Lighter, Hyperliquid, perp DEX competition and market outlook00:55:01 Public sales meta, Echo deals, MegaETH, and evolution from airdrops01:06:08 Closing thoughts - trading advice, adaptability, dumping old bags, final wrap-up

In this episode, Ruslan, founder of Extended, shares his journey from Revolut to building a fully self-custodial exchange. He explains the vision behind Extended’s unified margin and multi-asset collateral system, the choice to build on Starknet, and the challenges of trustless architecture. The discussion dives into liquidation logic, exchange stability during volatile markets, and what sets Extended apart - closing with thoughts on sustainable growth, token plans, and the future of decentralized trading.00:00 Intro, Ruslan’s background, founding Extended, and vision for a self-custody exchange06:11 Leaving Revolut to build independently, benefits of a small agile team13:09 What sets Extended apart - unified margin, multi-asset collateral, and long-term roadmap18:42 Why they chose Starknet, trustless design, and Ethereum ecosystem integration24:59 Deep dive into multi-asset margin mechanics, liquidation logic, and risk handling33:46 Why others don’t build this yet, technical complexity, and future competition39:18 Exchange stability, recent crash lessons, and how Extended handled downtime45:56 Sustainable growth, token plans, long-term goals, and closing remarks

In this episode, Heart shares his journey from the early DeFi days to becoming a disciplined trend trader. He talks about the lessons from his first bear market, how trading psychology reshaped his approach, and why he stopped shorting. The discussion covers trend following, coin rotation, using CT as signal, and the role of community, journaling, and personal growth -ending with insights on managing size, staying sharp, and building long-term freedom through trading.00:00:00 Intro, Heart’s background, getting into crypto and the early DeFi boom00:04:38 From on-chain degening to perps, first bear market, lessons and mindset shift00:08:00 Trading psychology - why he stopped shorting, emotional control, risk habits00:12:32 How he trades today: trend following, rotation, coin selection, and CT as signal00:21:00 What CT taught him - psychology over TA, community, filtering noise00:33:53 Books, mentors, journaling, and personal growth as a trader00:45:11 Key lessons, managing size, staying sharp, freedom and long-term goals

In this episode, V discusses developing as a trader through the 2021–22 bear market and how a macro framework shapes his approach. He breaks down positioning vs prediction, interest rate differentials, and carry trades, while exploring how macro conviction translates into intraday execution. The conversation covers narratives, data, Fed policy, crypto rotations, and possible next bear market scenarios — ending with insights on building edge, balancing discretion and quant, and leveraging the right tools.00:00:00 Intro, V’s background, starting to trade during the 2021–22 bear market00:05:09 Macro traders, positioning vs prediction, VAR shocks, applying macro to trading00:23:54 2024 selloff, interest rate differentials, carry trades and correlations00:33:11 Macro as conviction, holding trades, scalping liquidations, intraday execution00:41:08 Market data, narratives vs positioning, outlook on Fed, Trump, tariffs and gold00:51:26 Crypto rotations, lack of narratives, comparisons to 2021, seasonality and Q4 flows00:58:21 Next bear market scenarios, stagflation fears, sideways chop vs crash01:13:29 Closing thoughts on finding your edge, discretionary vs quant, importance of tools