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
22,548 Blog Posts

The Secrets to My Trading Mastery Revealed!

One of the best ways to lose money in the market is to believe in yourself more than what the collective opinions of the market and then acting upon them in a most heinous and egregious manner. Animals pretending to be humans walk upright as pigs and position size 20-30-50-100% of their money into “YOLO” trades and then wonder why they got blown up. If right, the rush feels great and that feeling of instant gratification will cause you to repeat that “one off” trade over and over again — until the house wins.

To help my fellow traders, I wanted to, on this pleasant Saturday, remind you of some things, the same things that have helped me trade well, so that you too could trade well.

Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends. Do not position size more than 5%. Do not bet against prevailing trends.

Also.

Stop out of trades when they go down on you, no more than 10% but really Sir, you should sell at -5%. I’d like to also add, you’re not smarter than the market.

How did I turn $100k to $900k in two years? Simple.

I bought the COVID lows and never second guessed the market. My position sizes always started at 5% per stock and no more, at the very highest and for short durations 20%. I stopped out all the time, avoided large drawdown and would often have 50% of my account in cash. I went months without gains and FUCKERS would soon declare “so sad, The Fly lost it and is finished.” This happened all the time. I was declared a “bad trader” all the while producing 200% gains.

The reason why I suck from time to time is certain tapes do not conform with my personality. I am best during momentum trades, whether to the upside or downside. I can short into the hole like the best of them and ride trends until their wheels come off. I am not good in chop and do not like to trade chop and when I see my performance waning, instead of doubling down in stubborn egotistical trades, I recoil and trade light.

Do you know how I could’ve blown up and not be at record highs?

I could’ve thought I knew more about the market and obstinately shorted the market and when my trades lost money, I could’ve increased those positions and kept increasing them — because how could I, the smartest person that I know, be wrong?

HUMBLE YOURSELF.

This is my usual routine, amended for current stratagem.

Keep book 100% long at all times via Stocklabs weekly quant picks. Trade around it and hedge closes if market looks sketch. Upon the open, CLOSE THOSE HEDGES — for the market tends to rip higher after 10am. Open screens and search for stocks within 2% of session highs on heavy volume (stocklabs does this) and buy STRONG STOCKS and take quick gains. The purpose of utilizing margin is to be in and out fast, not to accrue margin interest. If I am down 1% for the day and my hedges are up 1.5% — but I am still down 1% net, closing those shorts might be a good idea — since they in fact reduced my losses. That’s the whole point of them. They aren’t there to turn my entire account green in a down tape, but to reduce my losses.

On the flip side, when I leverage long to the tune of 150%, that additional exposure is only there to juice my returns and should be closed out quickly in order to reduce risk — should markets decide to trade lower again.

There is no worse trade than seeing a profit turn to loss and that loss turn into an emotional trade whereby you find yourself doubling down for the sake of protecting your ego.

When you are wrong, tap out. Do it often and before long it will be routine and you’ll never hesitate to admit when you get something wrong again.

Do you know what is a good return? Anything better than 10% per year. If you do not have time to trade often — use the Stocklabs quant picks (monthly allocations) and go yachting.

For those who don’t know me and think I’m just some bragging piece of shit know it all, I wrote two short stories about the time I blew the fuck up and out in magnificent fashion.

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A MAGNIFICIENT UPSIDE MOVE LOOMS

I’m friends with a really successful guy named “The Devil.” True story. He thinks he’s better than everyone but knows and understands he’s not better than me. Today he tried to warn me of a 12% COLLAPSE in the market, likely stemming from his cowardice in his position sheets. I will have you know, Le Fly isn’t afraid of anything. You should’ve seen me out there today — booked 100+ trades just swinging in and out of things, intermingling with my PREMIUM trading room — castigating them for not heeding my warnings.

I actually lost money today, -33bps — but had the time of my life.

I have transcended making or losing money. Now I trade for pleasure, leisure even. See, I have these ideas and then I act upon them and it produces and emotional response in me that makes me happy.

What is my fucking problem?

We’re in a bull market — so absolutely nothing.

I realize in the past year or so many of my new readers were attracted to me for my heavily pro Russian and BEARTARD takes on markets. Whilst I am still heavily pro Russia, I have all but abandoned you retarded bears — until I grow tired of this bull trade.

Today we saw a thesis break out around electric vehicle and artificial intelligence stocks, in addition to the normal short squeeze plays — which catapulted higher by 4.5%.

I expect and anticipate these thesis trades to continue — because when the momentum gets going and the proles crawl out from underneath the steps to open their Robinhood accounts — WE ARE JUST GETTING STARTED.

I traded frantically today in order to curate my holdings and get a feel for what I was looking at. I was not, as crazy as it seems, trying to make money today. I closed the week +5% and my YTD gains are a respectable 10.6%. But I’m not here for market performance and you’re not here reading me for mediocrity.

The pain trade is UP. The lashings will continue and the bears will receive Pelosi styled hammer blows to the cranium — as Americans style themselves to be war profiteers — sending tanks and weapons into the east for purposes of establishing peace by way of death and war.

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ALL BOOLED THE FUCK UP

I’ve switched stratagem from buying breakouts and carefully curating my portfolio to taking on WIDE SWATHS OF TRASH, especially in the AI space which has caught fire today. Instead of hitching my cart to one or two names, I must’ve bought 20. I lost count.

My favorite of the bunch is VERI, thinly traded and it might spike heavily if too many of you read this and act upon it at once.

I do not care if I lose money in this gambit. This is whale hunting and the point being is this: LCID is +31% on takeover rumors. I had bought and sold it today and missed out. We are in some sort of oddball salient just before WW3 and economic collapse, akin to black box trading — something I have mentioned here numerous times over the decade plus. This is opportunity, for you to act upon, seize it, and greedily produce more money in order to squirrel it away for when the apocalypse comes and you need to spend $5,000 for a loaf of bread.

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STOP THINKING: BULL MARKET TRADING

If you think for more than 10 seconds, you’ll never buy a stock again. There is nothing redeemable about the market, other than the fact it goes higher every day.

I turned green on all accounts in spite of some really negative pre market pin action and now stand before my audience with gains of the ribald nature for the month.

I’m only slightly leveraged here and view my gains as 5% houses month. Meaning: my risk tolerance is high because I can afford it. Because of this, I’m not hedging or being careful. I’m good enough to react after the fact if need be. As far as I can tell, this is a bull market and I’ll trade is like that until it stops.

We should trade down today — but that’s doesn’t mean I’ll chase it lower. I might just press the envelope and bet on another ramp, as bull markets tends to surprise to the upside when you least expect it.

Bottom line: now is not the time to be scared. That comes later.

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I GOT WHAT I DESERVED, AND MORE

Look at me — FULLY LEVERAGED at 143% of equity without hedges into the maelstrom of a harsh Intel miss and collapse.

The Gods blessed me today, as they always do — propelling me to gain another 1.76% for the day. It was a display in stock market mastery — trading around a fully long book at first very poorly and giving up my gains to later in the session recovering my footing and riding the bull into the close near the highs.

I’d like to tell you that my fortune is by chance, or even happenstance. I’d also like to tell you that “The Fly” lives a charmed life due to his stock market prowess and success. None of that is true. However impossible to match me or ever outstrip me, you should find solace and comfort in the fact that you ought to respect me and when you come here, or chance upon me on Twitter or in Stocklabs — you should display that respect as any gentleman would.

A tip of that hat will do.

In the after hours things are looking bleak post Intel miss. Nevertheless, I remain steadfast in my firm and obstinate belief that stocks are going up. I want to believe. I want to forget all of the bad things and only remember the good — erase the nightmares I’ve had of tranny marines on the front lines with Russia launching cluster bomb munitions into a battalion of armored vehicles outside of Warsaw.

If I could only focus on one thing and forget about everything else — it would be the stocked market and I’d be happy, cheerful even, concerned only with the letters and numbers. Alas, I cannot do that and am cursed by curiosity and possess questions. These questions are a toxin that worsens one’s life, while at the same time making one believe he is living with purpose. All nonsense.

The only purpose I have, at this mid-stage time in my life, is to provide others with a service to make their lives better, principally my family. Everything else is, in the big scheme of things, senseless.

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I DESERVE MORE

Here’s what I’m thinking. My gains from earlier today of +2.5% are supposed to be mine and the fact that I’ve been mugged for them doesn’t necessarily means I cannot have them back. Hear me out.

Instead of dealing with current realities, I prefer to live in the past — at least for the day. I will leverage to the hilt in CHINESE BURRITO stocks, since they’re the diciest plays I can find. Then I will sit back, relax, and eagerly await for the Gods to reward me.

I am a good person, great even, and deserve more.

At the time of this bloggery, I was up +.50%.

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The Saddest Open in the Whole Wide World

I was so happy this morning. I was 142% leveraged long and it all worked. I was +2.5% at the open and I cleanly removed my leverage and booked gains. It felt good. And then a little weakness entered the fray and then a lot, and then it fucking collapsed.

By the time I applied hedges it was too late. The market had already been blown the fuck out and most stocks down 4% from their highs. It was magnificent. And now I’m in a weird place where I’m down on stocks and my hedges, because I chased, and fully down 41bps into a heavily margined account — waiting now for a full collapse.

We were gonna be rich, millionaire even, traveling to work in stretch limos and drinking our coffee from chalices made from gold. But now we’re just lounging around like salamanders thinking about the beautiful open and how it all went wrong.

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WHO THE FUCK IS GONNA STOP ME?

Let me explain something to you. I cannot be stopped — not now, not ever. I crawled out from the steerage class this morning and ended up flying the fucking airplane, former pilots toss out of the cargo hole and the passengers on my plane pleasantly surprised by the drunken volatility of the new pilot — +3.22% for the session.

I have successfully PRESSED MY RIGHTS, the rights of man, during the month of January and now up nearly 10% YTD.

I concluded the session with a ribald portfolio of high octane, heavily shorted and hated names — 143% LEVERAGED LONG into the teeth of a scary market and war and all of the trimmings of post modernism ending of Pax Americana.

I just don’t give a fuck.

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SIR — YOU ARE SPEAKING TO A PROFESSIONAL

Please refrain from offering me financial advice. On occasion, after I pen a rather glum attestation of my trading, my email box is FESTOONED with advice blurbs by random actors attempting to impress upon me some sort of wisdom that can be gleaned and polished in order to permit me to achieve some level of success in the markets. I will remind you, I am a professional manager of money, licensed BY LAW to be a fiduciary. I am what others might call “an expert” or “an authority” on all things finance.

Early this morning I was tempted to believe in the sinking boat theory but was quickly reminded “YOU ARE A PROFESSIONAL SIR. Take the easy trade”. And so I did.

This win is important, +150bps, because most of you, the reader class, have been hung by the neck for dead. The entire market was blown out this morning and a great many of you got chased out and chased into inverse ETFs. I will pass this piece of advice down to you, since I believe it has relived me a great deal since late 2022.

GET IN 100% LONG and trade around it.

Easy and simple — but it isn’t if you aren’t following a religion as I am.

The weekly quant in Stocklabs selects my longs each Monday and I do not touch them until the next Monday — NO MATTER WHAT. They are static positions, a reality of life, and I just have to deal with them. This permits me to focus on day trades and overnight hedges: my wheelhouse.

Now some of you might say “but Fly, what about picking stocks?”

WHAT ABOUT IT? The fucking Quant returned 7% last year in monthly holds in a year when the market got blown the fuck out. It has proven to pick good stocks — because it’s simply looking at the best stocks fundamentally and technically. Whilst I might be able to do better, psychologically — this frees me to do other things.

Into the close, I am likely to add back hedges.

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HARD COLLAPSE UNDERWAY

The market was speeding ahead as fast as it could, up until it rolled over a sharp nail. Now we’re deflating and it won’t be long until we stop completely and collapse — unless of course we get some bad news to trade off from and provide us with some more air to keep the dream alive.

Since I entered heavily hedged, I’m actually flat for the session. Normally I’d close out my hedges and hope for the market to turn and I might still do that. In the past, buying all morning dips was a good idea. My sole reservation is that the market was already up too much and now we have some concerns about earnings.

MSFT had been up 5% after posting results and now the stock is down 4%. NOT GOOD.

ON THE OTHER HAND, we are also seeing rotation out of growth and back into risk averse stocks like SJM, MCK, and LMT.

BOTTOM LINE: we knew it was overheated and now we’re being tested. If we are in a true bull market, we will recover. Pick a side and good luck.

More later.

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