Had time to kill on a long train ride this weekend so took a highlighter to one of the most influential trading guides ever, @jackschwager’s Market Wizards. Published almost 40 years ago and still holds up, here are some of my favourite quotes (standouts in bold): “You absolutely want to put down a bet when a market acts terribly relative to everything else. When the news is wonderful and a market can’t go up, then you want to be sure to be short.” - Michael Marcus “Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well… Get out of a losing position if it makes you feel uncomfortable, because you can always get back in.” - Paul Tudor Jones “The most important rule of trading is to play great defense, not great offense.” - Paul Tudor Jones “The most important thing is to have a method for staying with your winners and getting rid of your losers.” - Gary Bielfeldt “Just as you wait for the percentage hand in poker, I have always tried to keep the concept of patience in mind by waiting for the right trade.” - Gary Bielfeldt “The elements of good trading are: 1) cutting losses, 2) cutting losses, and 3) cutting losses.” - Ed Seykota “Winning traders love to trade and love to win… Some people like to lose, so they win by losing money.” - Ed Seykota “I don’t see markets; I see risks, rewards, and money.” - Larry Hite “If you don’t bet, you can’t win. If you lose all your chips, you can’t bet.” - Larry Hite “Good trading is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake. You need to believe in something, but at the same time, you are going to be wrong a considerable number of times.” - Michael Steinhardt “There should be a respect for the person on the other side of the trade. Always ask yourself: Why does he want to sell? What does he know that I don’t? In my judgment, all great traders are seekers of truth.” - Michael Steinhardt “Pick the leaders and avoid the laggards.” - William O’Neil “By the time an asset’s outperformance is so obvious that almost all institutions own it, it is probably too late to buy.” - William O’Neil “Top formations in the market averages occur in only one of two ways. First, the average moves up to a new high on low volume. Second, volume surges for several days, but there is very little upside price progress.” - William O’Neil “If the leaders of the bull market start breaking down, that is a major sign that the market has topped.” - William O’Neil “The more disciplined you can get, the better you are going to do in the market. The more you listen to tips and rumors, the more money you’re likely to lose.” - David Ryan “Learn from your mistakes. That is the only way to become a successful trader.” - David Ryan “I became a winner when I was able to separate my ego needs from making money. When I was able to accept being wrong.” - David Ryan “By living the philosophy that my winners are always in front of me, it is not so painful to take a loss.” - David Ryan “Before putting on a position, always ask, “Do I really want to have this position?”” - Marty Schwartz “My biggest losses have always followed my largest profits.” - Marty Schwartz “Traders lose money because they would rather lose money than admit they’re wrong.” - Marty Schwartz “Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” - Marty Schwartz “I wait until there is money lying in the corner, and all I have to do is go over and pick it up. I do nothing in the meantime… You have to sit there until you find something.” - James B. Rogers, Jr. “Just about every time you go against panic, you will be right if you can stick it out.” - James B. Rogers, Jr. “Young guys just out of school making half a million dollars a year is not reality. Whenever you see that in a market, you are near a top.” - James B. Rogers, Jr. “In every bull market, whether it is IBM or oats, the bulls always seem to come up with reasons why it must go on, and on, and on.” - James B. Rogers, Jr. “Never, ever follow conventional wisdom in the market. You have to learn to go counter to the markets.” - James B. Rogers, Jr. “The world is always changing. Be aware of change. Buy change.” - James B. Rogers, Jr. “I have a real fear of the markets. The greatest traders are the ones who are most afraid. If my gut feel of market conditions is not right, I don’t trade.” - Mark Weinstein “Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey… Only when there is no chance it can lose its prey does it attack. That, to me, is the epitome of professional trading.” - Mark Weinstein “Trading is a matter of trying to avoid losses, but not being afraid of them. When you start being afraid to lose, you’re finished.” - Brian Gelber “Clear thinking, ability to stay focused, and extreme discipline are the most important elements of good trading. Discipline is number one: Take a theory and stick with it.” - Brian Gelber “Always respect the market. Never take anything for granted. Do your homework.” - Brian Gelber “When people approach the markets, they bring their personal problems with them. The markets are a natural place to act out those problems, but not to solve them.” - Dr. Van K. Tharp “Cut your losses short and let your profits run.” - Dr. Van K. Tharp “Money is not important. It is OK to lose. Trading is a game. Mental rehearsal is important for success. The winners have won before they start.” - Dr. Van K. Tharp

it's time. i made something for YOU, ethereum user a way for you to try out kohaku. so you can begin to see the future of privacy on ethereum, firsthand this will be a practical demo done live, on ethereum mainnet ❤️

1/ Announcing Ethereum Institutional An independent non-profit dedicated to accelerating the institutional adoption of Ethereum, its L2s, applications and overall ecosystem.

“There are two crypto assets worth more than $100 billion: BTC and ETH. In many ways, Ethereum is in a unique position. Ethereum has had a lot of success. The problem is, it had that success five years ago… so the market is saying “you won round one, but what’s round two?” So internally, our prompt has been “what does it take for ETH to become a trillion dollar asset?” There aren’t many individual trillion dollar assets on earth, so what does it take for ETH to be a trillion dollar asset? For Ethlabs, that will be one of our north stars. We’d be a bit full of ourselves if we came out and said that we had the answer today; it’s going to be a huge project for the entire community. But Ethlabs can act as the bridge. We can be the entity that goes and talks to the people that want to take on that mission. Then we can go and talk to the people that help steward Ethereum and work together to make that outcome happen.” — @adietrichs talks @ethlabs_org and a trillion dollar Ethereum on @Bankless.

Announcing Ethlabs: a non-profit R&D lab for Ethereum and ETH Our mission is to make Ethereum the settlement layer of the global economy. The internet became global because shared protocols created a common language between networks. Private systems remained useful, but bounded. Finance is approaching a similar moment. As value, assets, and markets become digital, the world needs shared settlement infrastructure. Ethereum is uniquely positioned to become that shared base layer, the neutral foundation on which users, institutions, and agents can transact without intermediation. What we believe: • We believe credible neutrality matters. Ten years of uptime and the lowest counterparty risk. Ground that cannot be pulled away by any one country, institution, company, or person. • We believe ETH matters. The most valuable, programmable store of value. A decade of broad distribution, deep liquidity in onchain markets, and maximally trustless asset on Ethereum. • We believe DeFi matters. Markets, liquidity, credit, exchange, and coordination, open to anyone. • We believe adoption matters. Principles do not change the world until people benefit from them. We sit between two worlds: real usage from the builders at the frontier, and the protocol that has to support it. We work with users, applications, wallets, L2s, infrastructure teams, institutions, ETH holders, core devs and researchers, then turn what they actually need into protocol work, shared standards, infrastructure, and shipped products. Ethlabs is independent but Ethereum is a shared project. We are one node in a much larger network of stewards. This is the multi-node future. We have spent the better part of the past decade contributing to Ethereum core research and development. We are opinionated and transparent. We move with urgency, learn in public, and course-correct when we’re wrong. We are building a lean, talent-dense team for people who want to do the most important work of their careers: join@ethlabs.org

“We’ve seen EF people “resign”, [I say that] because they’re going somewhere… We’re gunna see the EF focus on CROPS. We’re gunna see another body of the elite core developers focus more on platform, scalability, usability, and maybe even number go up with respect to ETH… Let’s not call it the Second Foundation…. But there will be another group of very important engineers and researchers who set up their own thing with positive language from the EF, and maybe even some financial support. There may even be some financial support from organisations that have long-term permanent capital... [Sharplink] has been talking to our friends at Bitmine about how we get together to be the decentralised commercialisation engines. Consensys is a big part of this as well.” — @ethereumJoseph on the latest @_choppingblock.

Quick recap on this: Campaign was a success and pretty sure almost every @EthCC attendee saw my punk + QR combo at least once across the week. Overwhelmingly positive response to the macaron boxes. Packed 150 across two suitcases and returned with a small handful. Was called “the macaron guy” more than once by the end. Won’t tag them here but several of the most influential names in Ethereum (V aside, turns out he only dialed in remotely) got one - massive thank you to everyone for stopping to chat. The conference itself was well-organised and Cannes is of course a nice place to spend a few days. @tkstanczak had the best talk and @LidoFinance had the best event, at least from what I saw. The crypto OG/institutional clash was hard to miss and I expect future editions will have a similar vibe. This was the central theme rather than AI, price, or anything else. Lots of people were in Cannes to find a job and lots more are feeling the bear. Even for the veterans, the cycles grind. I’m following up with those I chatted to as a high priority this week and will likely announce something soon. DMs are open if you’re working on something cool. Offer in OP still stands.

Thanks to @dreamsofdefi who supplied me with cute cookies

taken outside @EthCC 10 minutes ago there’s a four-digit code on the bottom - DM me with your address if you find and i’ll send you a random NFT from my vault

Cannes day 2 is a wrap gn

fresh talent is on the market find this man and hire him

Can 100% endorse @dreamsofdefi as a quality and high agency hire!

this is a close-up view by the way, packing them took a full working day and an extra suitcase thanks to everyone who grabbed one - will have more from tomorrow AM, starting at @LidoFinance Day

I’m in Cannes for @EthCC this week. My bag is packed with a stash of personal branded goods and I have one goal: landing my next role in the space. Ethereum user and builder since 2017, looking to lead growth and content for an exceptional team. Find me and ask for a macaron gift box (or hunt for the ones I’ve hidden around Palais des Festivals) then scan for my proof of work 🫡 P.S. I’m paying a 1 ETH referral bounty for any intro that leads to a full-time position. 2 ETH if it’s inked before May 1.

Today we're (soft) launching ObolClaw. Obol's mission is to power and secure Ethereum. First we built distributed validators. Then we built the Obol Stack to supercharge decentralised infrastructure. Now we're deploying Openclaw agents within it; to give them the skills to use, power, and secure Ethereum. Obol Stack v0.3.1 (below) supports Openclaw agents, and comes pre-loaded with an Ethereum RPC and the skills to read from it. ASAP we'll have a local wallet skill, and a lot more cool features to come soon. The future of the Agent Economy is on Ethereum. We at Obol are helping build it. LFGobol.

Aslant Fail secured for ~$1,200 thanks to the ETH downturn early @bottoproject stuff tends to reward collectors and then some over time, will see how this ages