137 [How to make $500K by sleeping. Jun 16, 2020]

  • IQ this had a hit piece down in the 16s, now it’s gapping up on Tencent becoming the biggest shareholder. Don’t be a shortseller guys, to be a shortseller you need to have insane amounts of information and an insanely high amount of intelligence, it’s just too hard, it’s so much easier to make money on the long side. You do all this research and it doesn’t amount to anything, at the end of the day, it’s all driven by emotions and momentum.
  • This market is just insane, everything is gapping higher, you don’t even have to trade. I’m up like 500k just on gappers, that’s the kinda market we’re in rn. Yep rs stocks matter, if you’re not paying attention to rs, well.. I guess you don’t know wth you’re doing.
  • So far everything gapping is taking out orls, that’s why I sold a little a little of everything premarket, tiny bits. So far it’s a gap and crap. Gap ups are only annoying if you’re looking for a bunch of good entries in breakouts, once you’re already in a bunch of stuff, then it doesn’t really matter.
  • Now it’s all a patience game. Remember, it’s not the smartest that win at trading, it’s the most patient. You wanna make it in trading you need two things: you need the ability to take losses without hesitating, and you need to have the ability to wait. That’s it, you don’t need smarts, you don’t need to be the fastest guy with new information or news, you don’t need any of that. All you need is these solid setups and waiting for them. Trading is not rocket science.
  • The market could always turn down big, no matter where we are, or when. You never know, that’s what stocks are for. There’s no point in speculating on those things, there’s just no money in it. Just focus on what’s happening right now and manage your risk, you’re gonna be fine. You’re gonna make millions, don’t worry about it.
  • I would never have thought the Nasdaq would hit all time highs, within 2 months of the lows of the corona crash, I thought maybe we could bounce 20% or something, but then we’re gonna maybe pullback and go sideways for a while at least, but I never thought we’d go straight up. And I was fighting it at first, I was very hesitant to buy stuff, I was trying to short some of the triple etfs, but it didn’t work. And then I was like f*ck it, I’m seeing a lot of long setups, the market is just not going down, I’m gonna go long. I’m up 6M since, since I took a decision; look what I’m doing is not working, I’m gonna start doing what is working, and that is buying stocks coming out of nice setups. And the market has been straight up since.
  • Everyone thinks they’re smart, but they’re not. I realised a long time ago I’m not that smart. I just wanted the simplest, easiest way of making money in the markets. Fool proof, simple rules. I hate complexity.
  • The bigger your account, the more you should diversify. The more your account grows the less risk you should take.
  • Yes the same patterns I trade off the daily and the 60min chart, you get the same patterns on the 1min and 5min chart pretty much. The key is always you want to see some tightness, on a strongly trending stock, could be trending up or down, then when you get a tightness, you trade in the direction of the move.


  • David asked me if I have any friends, of course I don’t. Guys, come on, if you wanna be a successful trader, you can’t have friends, you can’t have a life. Of course I don’t have any friends, what do you need friends for if you can have setups? Setups > Friends. Exactly, the trend is your best friend. You don’t need any friends, you just need a trend.
  • I made a book called HTFs, a photobook. I also have these parabolic shorts. To qualify it had to be like at least a 500k opp. I also took these nasdaq charts and marked where you got these shorts, and you get them all the time. You get these short setups all the time. I’m gonna do these kinda things for all my setups. That’s one of these things as a new trader, when there are no good setups you lose your confidence, you start thinking was I just lucky, am I ever gonna get a good trade again? I started doing this just to reinforce myself, like hey, sometimes it takes a few weeks or months but they always come back. Then I just took my charts I saved in my database over years and put them in a photobook and got it printed.
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