Good Morning. The NYSE once had a “trading floor pet,” a cat named “Buddy.” In the 1920s, Buddy roamed the floor of the New York Stock Exchange, lounging between desks and napping during market hours.

Legend has it, traders considered it bad luck to place a big order if Buddy was sleeping on your terminal.

-Jordon Mellor, Jonathan Kibbler, Patrick Lewis

QUESTION

What is the BIGGEST trading position you have ever put on? Position size.

Reply to this email with your answer.

MARKETS

Nothing too much to write home about, a tiny bit of upside in US equities with the VIX climbing too. Seems very much like a “rest day”.

TRADER INSIGHTS

And how you can trade like someone who doesn’t plan to donate their money to the market.

Last night I watched a trader load 135 lots on NZDUSD before NFP.
He nuked the account in minutes. Entertaining? Maybe.
But also… gutting.

Let’s break down the 5 real reasons traders blow up and how to stay alive long enough to actually get good.

Been there. I once tried hedging USDJPY 5 minutes before NFP. Didn’t end well.
Most traders don’t realize 1:500 leverage on a $1K account is like giving a toddler a grenade. Just because it’s there doesn’t mean you pull the pin.

You wouldn’t go skydiving without a parachute.
But traders skip stop losses like it’s a flex.

Most don’t know how much they’re risking, and by the time they figure it out, it’s margin call city.

If you don’t track your trades, how do you know what’s working?
It’s like trying to fix your golf swing in the dark.

Anger. FOMO. Overconfidence. Despair.
Trading doesn’t just reveal your strategy, it reveals you. 👀

You overtrade to make back a loss. You hold a loser because “it’ll turn around.”

The market doesn’t care how you feel but it’ll punish every reaction.

If your brain is buzzing, your account probably won’t be for long.

Most new traders want to turn $1K into $100K by Christmas.
They see someone on Instagram do it, so they risk big, chase setups, and force trades.

But trading isn’t a lottery. It’s a skill.

Expecting instant success is the fastest route to consistent failure.

Want to be one of the traders who don’t blow up?
Save this list. Re-read it. Tattoo it to your mouse hand if you have to (not financial advice).

See you then.

-Jonathan Kibbler

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MARKET ANALYSIS

And there’s still time to take advantage.

For months, Bitcoin dominated the stage. But this past week, something has shifted. The market’s gone from whispering to full-blown shouting:
“AltSeason is here!” or at least knocking… loudly.

So, what’s the signal?

The TOTAL2 chart (which tracks the market cap of everything except Bitcoin) has just broken out of a months-long downtrend. Not only that, it’s putting in classic higher-low structures on the daily. This is technical confirmation that altcoins are finally stepping out of Bitcoin’s shadow.

Smart money is now watching the $1.25T resistance level, a major psychological and technical line. If we break and hold above that, it could unleash a wave of sidelined capital into alts.

And this isn’t just TA for TA’s sake. Historically, when TOTAL2 breaks out, alts run hard. The time to be selective is narrowing.

The key now is to don’t chase blindly but don’t sleep either. Prioritize projects with strength, volume, and clear narratives. Momentum is shifting, and in altseasons, things move fast.

-Patrick Lewis

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GAMES

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GET TO IT

🦖 Get funded as a trader with up to $4,000,000.*

🦖 Build a macro-based Currency Strength Meter with AI.

🦖 Do a super quick challenge that will have missive impacts on your results.

🦖 Watch Professional Traders trade live in London

🦖 Understand how Market Makers work.

ANSWER

B- Central bank tightening policy. It often leads short-term rates to rise above long-term expectations, inverting the yield curve.