Insilico Terminal Podcast

In this episode, Mercury shares his journey from early crypto curiosity to becoming a systematic trader focused on momentum, carry, and volatility strategies. We dive into the differences between discretionary and systematic trading, how he builds and tests models, and why many edges in crypto are really risk premia rather than pure alpha. Mercury explains infrastructure for running strategies across perp DEXs, volatility targeting, portfolio construction, and the realities of scaling capital. The conversation also touches on prediction markets, the role of AI in research, and how traders can survive in a market where edges constantly decay.

Insilico Terminal Podcast Episode 25 - Trader Mercury

00:00 Intro, Mercury’s background, 2017 mania, early gains and 90% drawdown lessons

06:03 College dropout, going all-in on trading, March 2020 liquidation and ego reset

16:49 Rebuilding the system, scrapping indicators, trend-following foundation

23:24 Social media vs reality, engagement farming, why most traders sabotage themselves

30:12 Revenge trading, respecting trends, curing causes instead of treating symptoms

41:11 Discretion vs quants debate, adapting to ranges, why signals aren’t equal

52:15 The “free money” mindset, Trump coin trade, opportunity vs FOMO psychology

01:02:58 Bull market myths, skill evolution, why every cycle feels underwhelming in hindsight

In this episode, PonziTrader shares his full journey - from buying Bitcoin to buy weed on the dark web to becoming a high-volume directional perp trader. He walks through spinning $2k into $50k in 2017, losing it all in 2018, printing during the COVID crash, and the brutal 2021 flash crash where he lost $800k in a single night. We dive deep into real vs fake moves, exchange flow dynamics, ETF-driven markets, perp DEX competition, Hyperliquid’s stickiness, and his advisory role with NADO. Beyond trading mechanics, the conversation explores risk-taking when young, rebuilding after wipeouts, the psychology of leverage, and why most people shouldn’t trade at all.

Insilico Terminal Podcast Episode 24 - Ponzi Trader

00:00 Intro, PonziTrader background, getting into crypto in 2016–17 and early BitMEX days 

05:31 Trading style evolution, technical patterns to order flow, momentum and real vs fake moves 

08:23 Market structure shift, ETFs, corporate leverage (DATs), institutional impact on crypto 

13:38 Why he’s long-term bullish, stablecoins, perpetual adoption and retail leverage thesis 

21:52 NADO DEX, advisory role, latency edge and unified margin advantages 

28:21 Perp DEX competition, race to zero fees, security, liquidity and innovation cycles 

40:45 CEX vs DEX future, Binance outflows, counterparty risk and decentralization narrative 

44:11 2021 blow-up story, sushi wick liquidation, rebuilding from $12k and risk lessons 

52:23 Trading philosophy today, belief in yourself, leverage dangers, investing vs trading and closing

In this episode, Pedma shares his journey from bookkeeping and small-cap equities into fully systematic crypto trading. We dive deep into the difference between discretionary and quant approaches, why most retail trading is just momentum “seen through a potato,” and how real edge requires understanding why you’re getting paid for exposure. Pedma explains his long/short momentum models, carry strategies across perp DEXs, volatility targeting, and infrastructure for systematic execution. We also discuss alpha vs risk premium harvesting, prediction markets, perp DEX innovation, AI in trading, scaling capital, and the psychological impact of increasing size. The episode closes with practical advice: curate your network carefully, focus on useful knowledge, and understand that trading is a high-uncertainty profession that demands emotional control and long-term commitment.

Insilico Terminal Podcast Episode 23 - Pedma

00:00 Intro, Pedma's background, moving from equties to crypto and systematic trading  

06:27 Small-cap volume stats that first worked, float rotation, squeeze logic and data-driven edge 

09:48 Moving to crypto in 2021, momentum carryover, DAO forks and early volatility wins 

13:28 Biggest mistakes, complacency after success, drawdowns and overconfidence cycles 

16:31 Current strategies, long/short momentum, carry, volatility targeting and perp DEX farming 

23:23 Discretionary vs quant debate, alpha vs risk-premium harvesting, edge philosophy 

30:54 Execution, manual control, TWAP/slippage checks and infrastructure design 

45:10 Future of crypto, prediction markets, lifestyle, psychology at size and closing advice

In this episode, Magus shares his 11-year trading journey - from early tech stocks and silver to BitMEX-era crypto and full-time trading through the COVID crash. We dive deep into order flow, open interest, spot vs perp dynamics, and how market structure has evolved with ETFs and institutional flows. Magus explains his execution style, hedging philosophy, fixed sizing approach, and how professionalism, journaling, and emotional discipline shaped his edge. The conversation also explores DeFi as a “kingmaker” trade, reflections on missed opportunities like Hyperliquid, the current state of altcoins, and Bitcoin’s need to prove itself in a world where metals and equities are strong. We close with lessons on humility, ego balance, and surviving long enough to stay in the game.

Insilico Terminal Podcast Episode 22 -  ⁨Trader Magus 

00:00 Intro, Magus background, Going full-time, COVID crash and DeFi saving the year

05:02 Trading evolution, moving averages/Ichimoku -> order flow and auction market theory “light bulb moment”

08:28 Entry framework, momentum vs reversion, why open interest mattered and how that edge changed

20:45 Defending drawdowns, hedging one-to-one with perps, why most hedges “lose” but save you when it matters

31:14 Social media & FOMO, why CT warps expectations and how to avoid chasing everything

33:53 Execution + Insilico Terminal usage, market-in/limit-out, chase orders, resting orders, manual vs hard stops

53:05 Higher timeframe views, Bitcoin underperformance vs equities/metals, rotating profits into TradFi and closing

In this episode, Merp shares his journey from hospitality work during COVID to trading crypto full-time, navigating early bull-market luck, painful drawdowns, and the realities of maturing markets. We talk about buying dips, overthinking versus ignorance, working at a crypto fund through the FTX collapse, and why human dynamics often break funds. The conversation dives into perp DEXs vs options, airdrop farming, Hyperliquid, Extended, CT culture, founder behavior, and the social side of markets. We close with reflections on freedom, what it really means to “make it,” crypto’s future, and why the most important rule is simple: don’t blow up.

Insilico Terminal Podcast Episode 21 - Merp

00:00 Intro, Merp joins the podcast, market boredom, current trading sentiment 

03:53 Going all-in on crypto, GameStop era, blowing up early portfolios 

08:02 Biggest losses, fund experience, FTX fallout and lessons from institutional trading 

12:19 Bear market grind, working with AVO, perps vs options and why options lag on-chain 

18:55 Badge culture, points farming, Extended vs Hyperliquid and early adoption tradeoffs 

30:41 On-chain vs off-chain execution, incentives, trader behavior and ecosystem design 

38:43 What it means to “make it”, freedom, contentment, long-term outlook on crypto

In this episode, Fofty shares his unconventional path into markets - from the euro crisis and the Wirecard collapse to crypto mining, ICOs, and eventually macro-driven trading across options, perps, and traditional markets. We explore how event-driven thinking, convexity, and seasonality shape his approach, why options offer a better way to express macro views, and how liquidity - not narratives - ultimately drives markets. The conversation dives deep into misunderstood macro dynamics, government liquidity hacks, Bitcoin’s struggle with credibility, CT culture, and why constant scamming undermines long-term adoption. We close with thoughts on the future of markets, Bitcoin’s role as digital gold, and the need for traders to think bigger than short-term extraction.

Insilico Terminal Podcast Episode 20 - Fofty

00:00 Intro, Fofty’s background, origin of the name, early Twitter and CT beginnings

02:59 Rebirth group, daily macro writeups, building credibility as a macro-focused reply guy

06:56 Wirecard scandal, discovering markets via shorting fraud, Twitter as a real-time news edge

15:32 First macro “click”, euro crisis, Greek bonds, studying finance and early convictions

19:47 Mining, Dash masternodes, Bitmain, ICO cycle, getting wiped in 2017–18

23:24 Trading philosophy, event-driven macro, convexity, why options beat linear perps

34:45 Why macro is misunderstood, liquidity vs textbooks, Treasury issuance and cycle prolongation

54:12 Bitcoin, gold, narratives, scams, generational belief, rant and closing thoughts

In this episode, DeltaXBT shares his journey from early Bitcoin exposure and getting wrecked in the 2017 altcoin cycle to becoming a disciplined, higher-timeframe trader focused on patience and simplicity. We talk about why he only trades a small basket of majors, how journaling and waiting for clean setups shaped his edge, and the hard lessons learned from losing over 90% of his net worth during the 2021 crash. Delta explains his approach to risk, leverage, boredom trading, and why doing nothing is often the best trade. The conversation also covers CT culture, trading psychology, transitioning toward TradFi markets, execution comfort with Insilico Terminal, and why longevity, balance, and having a life away from charts matter more than constant action.

Insilico Terminal Podcast Episode 19 - DeltaXBT 

00:00 Intro, Deltas background, early Bitcoin exposure, getting into crypto seriously in 2016–17 

05:10 Learning to trade, trial and error across spot, alts, leverage and journaling to survive 

10:42 Trading philosophy today, higher timeframes only, patience, simple setups and conviction 

17:10 Current market view, Bitcoin range trading, boredom, CT narratives vs reality 

23:43 Going full-time, quitting his job, 2021 crash, losing 90% net worth and mental reset 

30:51 Risk management evolution, leverage used conservatively, avoiding catastrophic loss 

33:50 Patience and FOMO, ignoring CT noise, focusing on few charts, life outside trading 

46:32 Expanding into TradFi, differences vs crypto, execution tools, edge durability and closing

In this episode, we’re joined by Lucas and Hersch to dive deep into World Markets, a new fully on-chain “prime DEX” aiming to bring spot, perps, and lending together under a single, unified risk engine. Lucas explains the core insight behind building everything on-chain: atomic state, transparent risk, and capital efficiency that simply isn’t possible with hybrid or centralized architectures. We explore why traditional exchanges behave more like casinos than markets, how World Markets avoids ADLs through bilateral counterparty risk, and why circuit breakers, universal margin, and order-book–based lending matter. The conversation covers MegaETH vs Monad, listing philosophy, basis trades, funding efficiency, and the long-term vision for building a real exchange - not just another venue to gamble on leverage.

Insilico Terminal Podcast Episode 18 - World Markets 

00:00 Intro, project episode disclaimer, introducing Lucas and Hersch from World Markets

04:00 Founders’ backgrounds, Lucas’ Amber Group exit, TradFi experience and crypto crossover

08:30 Core thesis, why fully on-chain exchanges matter, state sync, risk calculation, EVM choice

14:00 Product vision, combining spot, perps and lending into one unified on-chain venue

20:30 Universal margin system, atomic risk engine, levered basis trade example

30:45 Risk management philosophy, circuit breakers, handling extreme volatility and dislocations

42:00 Exchange design tradeoffs, no ADLs, bilateral counterparty risk, transparency vs CEXs

59:49 Token plans, points program, incentives, launch timing and closing thoughts

In this episode, Mazino shares his journey from blowing up early spot bags in the 2017 era to becoming a disciplined, consistently profitable trader. We dive into how simplifying everything - cutting leverage, focusing on level-to-level price action, and journaling relentlessly - became the turning point. Mazino explains his evolution from swing trading into day trading and scalping, how he uses DOM and order flow as context rather than a crutch, and why patience and psychology matter more than theory. We also discuss building confluence, managing risk, compounding small edges, Hyperliquid and on-chain perps, journaling techniques, mentoring newer traders, and why slow, boring consistency beats leverage-fueled hero trades in the long run.

Insilico Terminal Podcast Episode 17 - Mazino

00:00 Intro, Mazino’s background, getting into crypto around 2017

03:34 Becoming profitable, removing leverage, simplifying trading and rebuilding fundamentals

08:54 Evolution of trading style, swing trading to day trading to scalping with size

12:17 Risk management lessons, journaling, confluence, leverage mistakes and psychology

19:22 Scalping execution, DOM reading, liquidity, exits, and managing fast losses

26:04 Market cycles, spot investing, evaluating projects like Solana and long-term views

34:27 Journaling process, scalping notes vs swing analysis, adapting to changing edges

43:05 Building a desk, working with quants, automation ideas and on-chain finance

49:05 Why he started posting on CT, free education, mentoring and common trader mistakes

55:02 Insilico Terminal features, execution speed, advanced orders, server-side algos

59:00 Closing thoughts, patience, compounding, gratitude and wrap-up

In this episode, we trace the path from the early Insilico days to becoming CEO - from building exchange integrations as a developer to overseeing operations, legal, and team management. We discuss a shift in trading style toward spot positioning with perps used mainly for hedging, the engineering standards behind Insilico’s reliability, and why the team avoids AI-written code. The conversation covers major 2025 milestones, including a rebrand, podcast launch, a new Go + JavaScript execution engine that enables offline algos, and the evolution toward complex order baskets. We also explore prediction markets, Smart Hedge tooling, advanced order types like VWAPs and Icebergs, and the long-term vision of bringing institutional-grade execution to mobile.

Insilico Terminal Podcast Episode 16 - Denis, CEO of Insilico Terminal 

00:00 Path to crypto, Early Insilico days, joining as a developer, building exchange integrations 

06:27 Trading today, focusing on spot positions and using perps mainly for hedging instead of active day trading 

09:12 Becoming CEO, transitioning from lead developer to managing exchanges, legal, payroll and operations 

11:58 Engineering standards, no AI code policy, manual development and heavy testing for reliability 

14:55 2025 milestones, rebrand, podcast launch, complex order baskets and product evolution 

22:50 New execution engine, Go + JavaScript backend enabling offline algos without keeping the terminal open 

32:15 Prediction markets and Smart Hedge, correlation matrices, Greeks-style logic and risk tooling 

44:12 Advanced order types, VWAPs, Icebergs and institutional-grade execution 

01:01:06 Mobile vision and closing, bringing full execution power to mobile and wrapping up