Losing Money is Hard to Do — Believe Me I Try

I wake up every day hoping today is the day when I will fail, a severe drawdown to make me cry. Instead, I am cursed with win after win after win. Yesterday’s 10% gain on 5% position sizes was something to behold and I am grateful for it. But I am not supposed to be up again, with the market weak, especially +300bps. I’d like to lose money, if at all possible.

Having so much success and enjoyment isn’t healthy. Ever since young inside of the sewers of Brooklyn I fought as the underdog — kicking the older kids in the nuts whenever the tried to take my candy. Now I am trying to give away my candy and no one will take it. I do not like being the older kid taking candy from the others. I refuse to believe it.

Today’s booked trades include BYND +24%, RGS +10%, ESPR +9.4%, YALA +9.4%, SDC +7.7% — and on and on and on. Truly sickening.

I am buying stocks heavily shorted and also volume breakouts, provided by Stocklabs. Yes I know we are almost 24 months into the SL build and I still do not release it. Maybe just maybe I am afraid to release it — because then you’d all have my time machine. Maybe Stocklabs would be better off in just my hands? Nevertheless, you can click on that link for a beta trial if and when I choose to launch it.

CIAO.

They’ll call it a mania — shares of GME lifting not in spite of but because of short sellers targeting it. The stock careened higher with an arched malevolence against establishment finance. The old newsletters and the pumpers and the hedge funds, all of them were wrong on this entire move. Fuck them all — burn them down and rip out their lungs.

The market has always been a game. Eventually earnings season corrects things. But in between reality and fantasy is this — the netherworld of spirit that permeates the essence of price discovery. All day stocks that were heavily short lifted off. Even mundane names like TR and BGS got fucking maniac squeezed — 15-100% jumps were ordinary today. Old school names like BB and NOK lifted off for the fun of it. This is the ultimate mockery for a system that we all know is rigged and a joke.

So why not take the power of the ordinary retail client at Robinhood and leverage them to turn this charade into an obscenity? Why not target stocks hated by hedge funds and popular opportunists and turn them against them — break them across our bows and punish them?

The playing field is not even anymore. Dare I say, the ordinary pleb is pitched forking the hedge fund community and all of the establishment shills in finance now and laughing at them. This is a golden age in finance and I know it won’t last forever, since power corrupts absolutely. But while it lasts, I will enjoy every second of it.

I closed out the session +985bps.

GME is up another 40% to $89, absolutely poleaxing all the shorts. They’re all dead.

I stand before all of you a most victorious man. I was supremely positioned into high beta short squeezes, all 5% positions, and liquidated it all this morning up 9.8%.

MTD I’m up 52%. See pal, that’s who I am and you’re nothing. You like to trade stocks? Fuck you, go home and play with your kids.

So now I’m 100% cash in my trading, but still long in my quant and long term accounts — both up a pedestrian 100bps. When I feel like it, I’ll likely dive back in to redouble my efforts and double my gains.

My biggest winners were BB +41%, AMC +30%, YI +27%, GSX +19% and it goes on and on in a nauseating whir of decadence. I am not comfortable with so much success derived so easily. Nevertheless, I’ll accept it and thank the stock Gods for their gracious gifts.

I’m usually fine during winters, accustomed to the barren lands of the northeast and all that comes with it. However, during this mask heavy COVID lockdown in the all but meaningless area of Raleigh, NC, I find myself wanting vacation more than ever.

I feel, dare I say, like I’m in a haze, a fog even.

I’ve been thinking about going to S. Beach Miami, but wondered if COVID was out of control there or not. Should I even care? I’d rather not fly far with a fucking mask, so where, dare I say, should I vacation in Florida?

What else is there to say. We trade often and well. My skills are perfect for this tape. I am not sure if I am that good — or it’s just really really easy now. I am 99% sure it has nothing to do with me. I think my skillsets will come in handy whenever this clown show ends.

But for now, alas, winship rules the day.

A wonderful thing has happened today — the good folks at Wall Street’s Bets on Reddit have gotten “angered” by yet another attempt by Citron Research to manipulate share prices via their fucking reports.

Citron twitter page to be back up on Monday, Twitter working though multiple hack attempts. In the meantime nothing more to be said on $GME. Family First pic.twitter.com/lOM4oCAALl

— Citron Research 2 (@CitronResearch2) January 22, 2021

So this is how it allegedly works.

Hedge funds pay Citron for their “research.” Then, allegedly, Citron takes a position, publishes their report, enjoys cascading share price as unwashed plebs suck their dicks and adhere to their advice. In order for this to work, the plebs must comply. If they do not comply, the whole scheme, allegedly, falls apart.

Meanwhile the lads at WSB are working in the Citron salt mines now, layering in levels of pain upon Citron and their co-conspirators clients.

This is what happens when the people hold sway over the gatekeepers. You get disrupted and a standard deviation blow out.

Gamestop hit an all time high today, amidst plummeting fundamentals and a COVID-19 lockdown.

The horror stories of yesterday have all subsided. For a moment, it looked as if BTC-ETH were finished, now we can clearly see they’re just getting started.

I wasn’t aware of how many conspiracy theorists existed in cryptos until this recent dip, with tales of tether and how it’s all a scam concocted for higher prices. Let me let you in on a little secret: life is a scam. Everything is rigged, even churches. So before you ascribe to some sort of belief system let me remind you that you only live once and you have a period of 40 years to truly enjoy yourselves.

Quit wasting time on theories and see things for what they truly are: comical.

None of these prices make any sense, yet I cannot prove SUNW is a scam or how POLA is 90% over valued. I’d rather buy them then sell them short. Price action always rules.

I saw in my previous thread a few of you shit upon day trading. That’s what I thought too until I accepted it and embraced it. Now it’s all I ever do and my success is greater than anything I’ve ever done, thanks in large part to Stocklabs (coming soon). I’m up 34% for the month and was up 37% last month. What the hell are you doing?

Back to fishing. Go get some crypto derivative stocks.

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.

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.

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.