iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,790 Blog Posts

HERE ARE THE FUCKING RULES FOR TRADING

I’ve been trading before you assholes were born. I’ve sucked at it, phenomenal at it, and now I am a master at it. I know every single way you can blow the fuck up — because I have done so numerous times. I’ve seen every type of market and have been lured into murder holes more times than I can count. I am doing this post, not to teach you, but to tell you how it’s supposed to be done.

First of all, wealth is rarely created via trading. Once you accept this and understand that what you see now is the EXCEPTION TO THE RULE you will find comfort in elongating your time frame for more than 30 secs.

If you do not have a min of $25k liquid to trade, you should not trade.

If you are cash flow negative with your bills, you should not be trading.

Some will ask, “well Fly, how the fuck am I to escape the pangs of poverty without risk?”

Answer: work harder, find a side hustle, EARN money. Depending on trading for income is gambling. Any good trader understands this and knows the money at risk is money he can afford to lose.

DO NOT TRADE OPTIONS at all if you are a rookie trader, less than 5 years in the market. The reason why is you’ll get addicted to fast wins/losses and never truly understand price action. In other words, you’ll skip over booze and pot and go straight to crack head status.

DO NOT TRADE ON MARGIN. You need to learn price action and risk. Do not amplify your bullshit account, for it will only accentuate your weaknesses.

Take losses fast. If you would not buy your stocks in your trading account right now, sell them. Trading is all about momentum, especially day trading. If you missed the trade, so be it.

BOOK LOSSES fast, very fast. Max drawdown for me is 10%. I rarely let a day trade exceed -5% in losses. I typically compile about 5 runners and will cull them if they turn lower. My profits are booked equally fast, often times taking 3-5% gains. On occasion, these stocks run very fast, so I am lucky to enjoy double digit intra day gains. But this is unique and markets aren’t always this accommodating.

When holding trades for overnight morning rippers SELL IN THE PRE-MARKET if you have gains exceeding 15%. It does not fucking matter where the stock can go. You ripped 15% overnight. Being greedy is equal to being stupid.

If you have a process that is working, do not deviate until it stops working. If you begin to lose using your methods, re-examine the process and adapt.

POSITION SIZES SHOULD BE NO MORE THAN 5%. On rare occasions I will double or even triple down — but I will never hold overnight with said size. I endeavor to profit thru the quantity of my wins, not the size.

Do not over-analyze trades or get bogged down in stupid technical analysis. Only volume and price action matters. Looking at lines on a chart will never help you.

If you’re down more than 3% for the day, consider going to all cash or larger capped in order to stem losses. If you must trade, take one trade at a time and build your way back.

The highest probability outcome is most likely to make you money. In the case of stocks, most of you are ill equipped to trade, let alone day trade. However, if you have 10-20 years left in your lives you can compound returns and create real wealth. Trying to execute short cuts, more often than not, will lead to ruins. Those FUCKERS on Wall Street Bets now will most likely all get wiped clean the next correction. Their behavior will be punitive to their financial freedoms because they have no discipline and believe, foolishly, that stocks can never go lower. As you know, they can and will trade lower, especially when you least expect it. Trading is fun and can truly create wealth if done in a way that is absent of ego. But you cannot expect to turn $1k into $100k and I would bet against that person 10 out of 10 times — because someone with only $1k trying to turn it into $100k has yet to understand the basics of money, let alone understanding the complexities of trading in the world’s best casino.

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Markets Want Lower

You can just see it ebbing, wanting to drop dead. Cryptos are lunging lower today and everything you loved about Trump’s big fat stock market is over. Gone are the days when a Commander in Chief would shit-post about record new highs on the market. We’re back to a more sober form of governing — one that might benefit the poors, not to much the well to do.

Empire America is still very much alive and you’d be remiss to bet against her. However, look at this shit — the perfidy is off the charts. There will come a day when you rue the moment of your birth. I believe such a day hastens to the forefront and you’d be wise to plan for it.

In the meantime, I am still day trading — trying to catch a wave, until my legs get eaten off by sharks.

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SCHOOL IS IN SESSION; SIT DOWN PLEBS AND LEARN

The title is complete bullshit — clickbait nonsense. I am not here to teach any of you anything — God damned it. I am here to boast and revel in my own genius.

BEHOLD

Earlier this morning I was summoned by my mother in law to ferry her about town to the doctor. Because of this circumstance, yours truly sold some of his magnanimous runners pre market. I was most fortune to be up 450bps before 9am.

I sold CIDM last night +13.4%
EMAN pre-mkt +30.33%
LCTX +34%

And then when markets opened, from my car, I sold WWR -13% and ALDX -9%. All seemed good and well — because I was up nearly 5% and enjoying my morning. Before settling in for a long wait as my mother in law ran about the clinic, I sold PTN +14.4%, OPTT +13%, XONE +6.7%, EOSE +6.7%, FUTU +8.5%, JKS +5.2%, HMI +3.8%, PUBM +3.2% — all before 10:15am.

As time drifted and I wasted away watching videos inside of my fucking car, I got restless — but didn’t feel comfortable buying stocks without my tools. So I sold some more — this time CLVS for +5.45%.

Now I felt like a long dicked champion. I had gains of 5.7% and was 70% cash, a true legend in the making. I could now relax and bear witness to the markets crumble beneath my hubris. But then I got restless again and I bought a little NAIL — just for a taste. The homies were breaking out and I figured a macro play on the sector was a good bet. That turned out to be a non-even thus far — but the magic was yet to begin.

I got back to the office by 3pm, fully caffeinated and ready to add to my gains. Stocks had stabilized and people inside Exodus were feeling good — but a bit sluggish.

My first purchase to liven things up was KRKR aka The Kraken. It went down almost immediately and members inside the Pelican Room succumbed to it because they were weak and didn’t have what it took to hold the line.

Then I did the following in and out trades — all inside a matter of minutes.

GSAT +8.3%
ITP +6.1%
MDGS +3.4% (from yesterday)
YQ +4.7%
RCON +4%
FTOC +4.6%

And finally, as the room con-caved on The Kraken, Le Fly doubled down his bets at -10% and inside of 3 mins sold the entire position, 10% weighted, for a 2.8% profit.

All in all, I closed the day up 7.8%, 16 for my last 16 — currently up 31% for the month — 35% cash.

Is this to be expected daily? Yes, that is correct. I intend to do this every single day and if trades go against me, I might not ever sell — but instead opt for a rich man’s Martingale Stratagem — doubled down each time until profit is enjoyed.

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ANOTHER MASSIVE MELT UP IN STORE — HAPPY INAUGURATION DAY

Listen to me. I’ve been trading since the fucking early 90s, a small boy with nothing more than a few grande — stupid and poor — ignorant and greedy. I’ve never seen anything like this before. What does me trading as a small boy have to do with being stupid poor and greedy? Nothing at all.

I stand before you atop a mountain, up 500bps pre market. I’d rather not give you the details, other than to say I am almost fully invested. The previous days when I was up just 200bps, I was only invested with half my money.

Nasdaq futures are up 120, cryptos hammered into the ground after Yellen said they might be used to finance terrorism. The fuck it is.

At any rate, I’ll be busy this morning, out and about, unable to fucking trade. I will, however, book profits and lead the life I was born to lead.

I will eclipse +30% for the month for two consecutive months. Make that two elections in a row where stocks roared post election, making everyone rich-er.

Indeud.

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Cheers to Globalism; All Hail the New Chief

Real money is being made in markets. I was up 37% last month and another 22% this month. I’d like to believe this could last forever; but nothing this great can ever outlive eventual degradation. What you’re seeing celebrated now in markets is power — full control by the left in America to push forward their vision of the future. While you might view it as disdainful, markets don’t give a shit. There’s a reason why solar stocks are soaring and we cannot produce enough lithium.

Power projected that is believed to be genuine causes assets from that base to soar in value.

There will be no coup. The globalist regime is back and bigger than ever.

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RECORD GAINS AHEAD OF INAUGURAL FESTIVITIES

Greetings and salutations,

I’ve been out and about this morning, although eager to trade and I will do so at once. But before I do I wanted to give a quick run down of what’s going on this morning. Lithium, Alt Energy and fucking space stocks are taking off again, as the world’s most popular man gets ceremoniously appointed into office. America will celebrate this grande fete amidst thousands of armed guard and 200,000 flags, in replace of the people who tearfully cannot be there. I look forward to a most powerful administration, where flying cars and casual sojourns into low orbit space become common stance, as ordinary as going to the store for a bag of potatoes.

Le Fly entered today 55% cash, but has still managed to rip higher by 2.2%, thanks to gains in GILT and DBVT. I shall trade now and prepare myself for maximum happenings, as America blesses the world with yet another President of peace, a man who knows no boundaries when it comes to generosity and magnanimousity.

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It’s Reasonable to Assume Higher Prices for Everything

Let’s try to brainstorm this for a moment. What is the worst case scenario for stocks?

The COVID vaccine doesn’t work and we’re stuck in perpetual lockdown. Government keeps printing money until it becomes untenable and the dollar collapses. However, the dollar cannot collapse, since printing is being done worldwide, unless of course China becomes the new currency reserve, which will never happen since we own petrol-dollar trade.

Another worse case scenario is Biden era EPA crackdown, fucking companies with regulations. However, that might be offset by the immense funding in green initiatives, so does it really matter?

I think, and this goes without saying, the greatest risk to everything falling apart begins and ends with the dollar. The only way the dollar can lose dominance is via a lost war with a major power and/or the end of the petrol-dollar, which can happen if cars all move to EV and we figure out ways to heat our fucking homes with the sun. Once the dollar goes then the whole system collapses — but I doubt it’ll happen this decade — maybe in the 2030s.

The bottom line hedge in all this, naturally, is cryptos. Gold is ok, but is not communicable like BTC or ETH and it simply lacks sex. The bigger the boom in tech, the wealthier tech titans become, the more they buy cryptos — it really is that simple.

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Halfway Thru January, My Gains are Extensive

I lazily entered work today, due to duress trading hard all week. I reiterate my position that a really good trader works harder than anyone in the world — especially trash men or lawyers. To sit down and absorb the type of information that I do on a daily basis is demanding. Plus, I am watching 400 screens — due to my belief that the more screens I attain, the greater my wealth. For every good day in the market, I add a screen to my home office. I look like the Architect from the Matrix up in this bitch, slicing through stocks like AI through your jobs.

COVID is on the fucking move again. I spoke to someone today who only knew he had it because he was tested. What sort of bullshit is that? All old folks are lining up for the vaccine — something that people should do if they’re into experimenting with their DNA. But what do I know? Really nothing. I read nonsense and hear nonsense and have little regards for what is true or not. I chalk it up to chance, this COVID business. I take a chance walking around other people, just like it’s a chance to take the vaccine. Why, someone might stick a knife in me for my iPhone, or perhaps that vaccine will turn your face into a sloppy jalopy. Same rules apply to trading. Get cute in the markets, thinking your Gordon Gecko, next thing you know your account is zero and your wife and kids are moving out.

YTD I am up 18%.

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LOSSES ARE GOOD FOR YOUR SOUL

It permits you to remember who you are. You cannot go throughout life winning all the time — then you have no point of reference. A man needs grounding to be happy and today’s losses will serve as that reference point.

I am sorry to say, however, I shall not be participating in your losses, in spite of being down 80bps at the moment. I executed masterful trades this morning, +22% in this, +10% in that — but my good work has since melted away like a candle inside of a pizza oven. I am not concerned, as you know, since I am well equipped to handle the pangs of misery and TITANIC styled market crashes. My middle name happens to be Calamity.

There is nothing I cannot handle and I shall be up by 4pm.

Presently, I stand before you at 66.6% cash — because numbers are fun and magical. I will be re-entering the market with trades after lunch, or at my earliest convenience.

Until then, enjoy the view.

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WE’RE GOING TO OUTERSPACE!

Today’s sector du jour (sp?, I don’t give a fuck about French) was space, because the new Buffett — whiz behind ARKK — actively managed ETF that is cuckholding all of you hedge fund faggots, announced she’s going to launch a fucking space fund. At the same time, Bezos said his fucking space company will soon offer flights to space, by April! Naturally you’d need to get the vaccine and of course still wear your fucking space helmet. Space is cold and unforgiving. Do not expect to visit “outer space” — you’ll just get to see a nice view of the fucking earth from low space, where those floating fucking balloons pretend to be satellites.

We are in a sick time of perverts and hypo-technological innovation. You cannot have one without the other. You give up your old bibles in exchange for transvestites on the front lines of some of our wondrous wars abroad. Scientists work ’round the clock to perform acts of magic. Software titans in California are trying to build things to make life much better, all the while decreasing annoying freedoms that you previously took for granted. It’s a trade off, see.

I closed the session +230bps and I am margined at 110% leverage. My trade off is sanity in exchange for money. I likes the money and do whatever I can to make sure I get it.

If you lost money today and were rudderless and lost, and if you’re not up at least 15% for the year, come on over to Exodus and Captain Fly will fix you up a nice plate of cod — seasoned to perfection, with a side order of slaw, heavily mayonnaise’d, lightly peppered.

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