Elon and the teams he's built are genuinely inspiring. While much of the modern world is in decay and we look to the past and wonder why we aren't 'building things like that anymore', he's proving that the human instinct to push beyond is still alive.
Pete retweeted
"Why did they waste so much time making a flying car no one can use in the real world?"
Because not everything is about whether you can imagine it being useful to you. Because like art, sometimes we make things for the glory and challenge of making them. Because we don't know if what we'll learn will make your toaster work better and you'll never realize it because you take for granted that things get better without thinking through how that happens. Because you can't inspire people with toasters, but a barrel-rolling car that can drive upside down is absolutely setting someone on fire right now.
I'm not a car person and you shouldn't trust me with a rocket, but I want a roadster because I make art and that thing is absolutely a thing made for love and passion and I get that in my heart.
(Also because I'd look really cool in one.)🤣
Pete retweeted
Here’s how I look at swing trading: you’re trying to build a composite of momentum leaders at the right times. With that in mind, it makes no sense to oversize any single name. You want a basket of the fastest-moving stocks that meet your account’s liquidity constraints.
Think about a 100% position in one 7% ADR name versus 20 equally weighted positions averaging 7% ADR. Same total allocation and weighted average ADR, but the single-name position carries far more company-specific risk.
And during the environments that actually pay swing traders, there’s absolutely no need to concentrate in one name. A whole basket of momentum leaders emerges and rips higher. Once you truly embrace this, the need to oversize disappears.
There’s the position sizing math and the risk of something specific to one company going wrong: key person risk, bad news, some fluke outlier event. But there’s also the mental side.
Say you put 50% of your account, or your entire account, into one stock. It sits there while everything else on your watchlist goes up. What do you do? Sell it, chase something else higher, then get chopped out on the pullback? It becomes a vicious cycle.
Instead, you could start with 10% positions and build a portfolio of high-momentum, high-ADR stocks with enough liquidity to support your sizing. You get exposure to the group without needing one particular name to lead every day.
No one ever talks about this, but it’s foundational to my approach. Think about the movement potential and liquidity of the portfolio as a whole. You’re essentially building your own ETF. The goal is to capture as much movement as your account’s liquidity constraints reasonably allow, without depending on a single stock.
If you need to zoom in for a precision entry, fine. I get that. But once you’re in, zoom back out. Focus on the key higher-timeframe levels if you must, but really, set your stop at invalidation and let your stop, trailing rules, and take-profit triggers do their jobs. You don’t need to babysit every candle.
This is also my key indicator of whether the market is conducive to swing trading: can I build a portfolio of leaders, keep adding names, and increase my allocation as existing positions work? Or, for every name I add, am I getting stopped out of another? If nothing sticks, that tells me something.
In a healthy market, before you know it, you’ll have 10 positions on. As you manage your exposure and make room for more names, that can eventually become 20. For me, getting to that point is usually a signal that things may be due to cool down a bit.
Run your scanner properly, filtering for stocks liquid enough to support your position size / speed, and you’ll build a portfolio of fast-moving, liquid names. A composite of momentum leaders.
Long story short, oversizing as a swing trader is a complete waste of time.
Lots more to add on this. Maybe I’ll do a chart talk on it soon?
Pete retweeted
𝗧𝗵𝗲 𝗼𝗻𝗹𝘆 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗶𝘀 𝗻𝗼𝘁 𝗾𝘂𝗶𝘁𝘁𝗶𝗻𝗴.
Yeah, when do I get my first million dollar student? I am a million dollar student of Sykes. I started trade because of Sykes. As much as I hate to say it, but it's true. I have been a student of Sykes. Or at least, I've been a paying member of his site. As much as I dislike the guy, but that's the truth. If it hadn't been for Sykes, I probably wouldn't be here.
I studied and I worked. I studied biomedicine for three years. I studied biomedical laboratory science for three years. And in the last couple of months of my studies, I started trading, so I dropped out of school. Best decision I've ever made.
Yeah, some of them. Some of them started, some of them tried trading unsuccessfully. Two of my friends actually started trading. They traded for a year, but, yeah, they didn't have much success. They could have had success if they had stuck to it, but they got bored and they—everyone thinks oh it's so easy, but it takes years and years and years and years. And that's really the only difference between successful traders and unsuccessful traders, because the successful ones don't give up. They stick with it. Even if they blow up, they come back, they go back to work, they come back to trading.
That's what I did several times. I could have just given up and finished my studies and gone to work and worked at a regular job, and now I make as much money in a year that I would have made in a lifetime having a regular job. So dropping out of school was the best decision I've ever made.
Yeah, exactly. Yeah, I know how to do surgery too. It's so easy. You just cut it open, take out the bad stuff and then you put it back together again and it's all so easy. I don't know why people study for five, ten years to be doctors or surgeons, I really don't know. Could just watch some YouTube videos.
The funny thing is most of my friends don't really know how successful I am. They think I'm making as much money as I would in a normal job. I think some people I know would drop dead if they knew how much money I was making. My mom doesn't know.
Pete retweeted
If we want to change our lives with trading we need to adapt to the market.
This article breaks down what parts of CANSLIM is still valid
Pete retweeted
the best productivity hack in existence is believing you are on a mission from God and ignoring all evidence to the contrary
Pete retweeted
The thing we are raging against is not people playing the game, but people trying to change the game by adding the qol retail features that make the game more single player than MMO.
I hope you enjoy it. :)
I’ve got a feeling when the Greeks came up with the concept of Ad Hominem that they weren’t intending for it to mean we have to care about the opinions of morally corrupt dysgenic losers.
Pete retweeted
Every time a stranger asks me about politics I try to out libtard them. I once told I girl I've donated 75% of my income to Gaza
I don’t know which generation of iPhone between 13 and 17 made this change, but having the phone turn right back on when you plug it in after the battery dies rather than having to wait 5 minutes? Glad we finally figured that might be preferable.
Pete retweeted
Breadth is incredibly bad.
I posted the forward returns seen from one perspective earlier today.
Now to a potential contrarian view.
The TACOmeter is showing the worst level since the war began and moving higher towards the levels since during the tariff panic all while incentives are the highest to deflate it into midterms.
Should we somehow find a way to end this disastrous war, we would see yields, oil and fears move lower sharply upon which we have the chance to see a strong rally as seen historically.
Furthermore we are exiting the worst period of the presidential cyclicality into the strongest historical one right at the end of the month.
The admin has a chance to TACO, attempt to fulfill its promises of lower inflation and no more wars while letting the AI led GDP boost and Defi theme grow to a great and high GDP growth.
We have a path, but the king of tripling down on losers will dictate if we head for a dangerous recession and potentially war or focus back on what people care about.
There is “a good chance that Trump will choose an offramp soon now that pressure is clearly building (Trump TACO/Pressure indexes are the highest since March).”
@Daniel_VonAhlen @TS_Lombard
Pete retweeted
The past decade has really made me reassess the nature of WW1 & 2.
What has Russia actually done to increase hostility with the West? Well, they blew up Nordstream, right? Nope. That was a CIA/Ukraine operation blamed on Russia. But they installed Trump in 2016, right? Nope. That was a CIA/FBI operation to hand the WH to Hillary Clinton. But they invaded Ukraine, right? Well, yeah. After decades of NATO expansion and provocations like Maidan, they finally did something about it.
So, in short, Russia did basically nothing to the West. And yet the West is ramping up for direct war against Russia all across Europe.
Does the public support it? No. Not at all.
Just as the debt supercycle hits many quadrillions a major war seems to have been created out of thin air.
So you might want to reconsider your historical understandings of world wars and recognize that you're currently living thru the latest bullshit chapter.
The Ukrainian drone attack on Moscow this morning was apparently the largest of the entire war so far -- clearly they have been stockpiling for a while. It also included missiles, though they were all shot down as far as I can tell. Most of the 500+ drones were intercepted (1600+ total, a third aimed at Moscow), but several impacted residential buildings and the Moscow Oil Refinery. At least two civilians were killed in Moscow oblast.
Pete retweeted
Paul Tudor Jones :The Art of Aggressive Trading
Jack : What are the trading rules you live by?
PTJ: Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. There is nothing better than a fresh start.The most important rule of trading is to play great defense, not great offense. Every day I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum possible drawdown. Hopefully, I spend the rest of the day enjoying positions that are going in my direction. If they are going against me, then I have a game plan for getting out. Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead. Jesse Livermore, one of the greatest speculators of all time, reportedly said that, in the long run, you can’t ever win trading markets. That was a devastating quote for someone like me, just getting into the business. The idea that you can’t beat the markets is a frightening prospect. That is why my guiding philosophy is playing great defense. If you make a good trade, don’t think it is because you have some uncanny foresight. Always maintain your sense of confidence, but keep it in check
Pete retweeted
Clint is fighting a cancer that is trying to take his life while so filled with chemotherapy drugs he could pop.
Yet, he’s on his outdoor rooftop home gym at 1am deadlifting like the dickens while his family is sound asleep inside.
You eventually get to an age where men with grit like this inspire you more than all of the bs motivational talking heads combined.
God, please bless this man.
Pete retweeted
My father told me this once and I stated plainly that I would rather die penniless and alone in a gutter than live mired in lies. I told him that such habitual, cowardly lying rots the soul and has ruined the world.
This attitude extends to everything they see. Women, covid, politics, safety, crime, no thought for the future or the consequences of lies, only an ardent demand that we ignore those ruinous truths because doing so lets us pretend to be happy now. I watched the world around me go insane, I watched people destroy themselves, I learned a full fucking third of my generation was slaughtered on the altar, all justified with these polite little lies, all justified with “but telling the truth makes people sad so we have to lie :)”.
This “advice” will destroy you. A good life isn’t found in pursuit of polite little lies, it’s not maintained by letting people destroy themselves and others over falsehoods, and certainly not in pursuit of some faux short-term “happiness”. One day you’ll lie about what you believe, the next it’ll be about what you want, next you’ll lie to yourself about who you are and by the end, you’ll just be an empty shell to be filled by the demons of modernity.
Happiness is not found in telling lies, but by aligning yourself, your desires and your beliefs upon the axis of creation; those rules of nature under which we must all live.
Pete retweeted
Women set the standards for sex, men meet them.
If in order to obtain sex, men must marry a women, or become pillars of the community, or lie, or amass riches, or be romantic or funny, then they will do precisely that.
If men need to simply be in the right place at the right time at 3am in a nightclub, then they will meet these standards appropriately.
Pete retweeted
I proposed to my wife when I was poor.
Bought a $120 ring from Mervyns (remember that store?!) and took her to a nice dinner I could barely afford.
I upgraded it later on when I was making good money.
I could have gotten away with a ring pop.
29 years together this month, this is what love is.
If a woman demands an expensive ring, she isn’t worth it - red flag.
A guy in our circle makes a good living. He's been dating a girl for three years, and she expects a $15,000 engagement ring. He told her he’s only comfortable spending $4,000 because they want to buy a house soon.
She told him that settling for a cheaper ring means he doesn't value her, and she’d rather wait another year to get engaged until he can "afford it."
Are engagement rings the ultimate financial scam, or is he being cheap with the one piece of jewelry she has to wear forever?
