The Journal
Notes on staying in the game.
Essays on risk, exposure and the arithmetic that decides who is still trading next year.
Risk, 3 min read
The Arithmetic of Ruin
Losses and gains are not symmetrical. The whole craft of surviving in markets begins with that one uncomfortable fact.
October 26, 2026
Five Tokens, One Bet
Owning more coins is not the same as owning more ideas. A short lesson in how much diversification you actually have.
Published October 19, 2026
The Trade Behind the Trade
How a winning month can lose money, and why the number on your exchange is rarely the number you kept.
Published October 12, 2026
Stablecoins Are Not Cash
The dry powder in your book carries risks of its own. Three weekends in recent history show which ones.
Published October 5, 2026
Size Is the Decision
You cannot control what the market does next. You can control exactly how much it can take from you when it does.
Published September 28, 2026
The Case for Fewer Alerts
An alarm that rings all day is a noise you learn to ignore. How to build a system that speaks only when it has something to say.
Published September 21, 2026