I want to clarify and crystallize some things for some of the newer readers of iBankCoin. I do not concern myself, whatsoever, with technical analysis. I do not believe in it, never have, never will. I manage a great deal of money, on behalf of very wealthy individuals. I do not consider my personal money to be “risk assets” and only play with a small portion of my net worth, which, incidentally, is likely 10x the size of your bullshit zeeco accounts.
Before I buy a stock, I make a decision as to the longevity of the trade and the amount of risk I am willing to accept. In same cases, I am only interested in 5-10%, upside or downside, in others I go for much more. I use algorithms to find “high probability” trades. But you must understand, it isn’t the holy grail. NOTHING is fool proof. Hence, the very term “high probability” suggests an outside chance that the trade could go wrong.
For example: I bought EXK a few days ago, thinking the stock had bottomed and was readying to bounce. However, when I saw the stock fail to move up, I knew there was something wrong with silver. Instead of cutting my losses, I made a conscious decision to buy more if my position got to -10%. The reason why I did that was because I had 40% cash and could afford to accept some risk. Plus anyway, I really like EXK down here. I’ve traded the stock over a dozen times and have never lost money in it.
Although I boast about the abilities of The PPT: NOTHING is full proof. It is a tool, a great tool, that allows me to not waste time. I didn’t build it for retail usage. I built it for my personal use only, then we opened it up to the public later on.
Some of you manage money and understand what I am talking about. However, the fucking lot of you are simply ignorant to my methods and would be better off sticking your dicks in a lions mouth than fucking with me.
I am generous and I am here to share ideas. But do not think for a second that you know more than me. Plainly, it’s laughable that you would presume to know anything at all. Hell, I bet half of you got to work this morning by being pushed inside of a shopping cart, or by way of skateboard.
Look, I don’t mean to be curt. I am really a very “nice guy”; and for the most part, my “battles”, whether real or “imaginative”, are yours. Having said that, I will track you down and punch your lips loose for getting in my way, even if it’s some small gratuitous comment– left in some half-drunken stupor. Data is being collected and the good folks at iBC are growing very rapidly, under the auspices of the Grande Recursive Order of the Knights of the Lambda Calculus.
You’ve been warned, YET AGAIN.
http://www.youtube.com/watch?v=qnOmOsQkyKE&feature=related
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