WELCOME PLEASE READ ALL!
Hello and welcome to Saiyan Stocks and congratulations on your decision to further your trading education!
Before you do anything else, go through all of the info below to get access to our chats and learn.
After you’re done, proceed to the Training Area if you need to (link at the bottom of this page).
General Trading Rules
In trading, risk management is everything. Here are some general rules to follow. A more detailed breakdown on specific trading strategies and setups can be found in our training area.
1. Position size. Besides following a challenge account, you should use a strict rule of no more than 5% of your account per trade and look to not lose the entire amount. For example, if you have a $5,000 account, your position size for each trade should be no larger than $250 or $50-150 if you are sizing for zero (willing to accept full loss). If you have a smaller account, this might mean that you won’t be able to take a lot of trades, but trust us on this one – it will save you from blowing up your account.
2. Stoplosses. Admins will always signal their entries/exits. If they haven’t, that means the trade is still open. You are more than welcome to set your own stoplosses (if you do so, ~50% is a good place to start), but know that this is your decision to make.
3. Do not chase signals. If you miss the entry on a signal, you are always more than welcome to ask if it’s still OK to get in. However, a good general rule of thumb is it’s OK to enter if price is between 1-5% of the original entry. For example, if we signal entry on an options contract that costs $1.60 ($160), the maximum you should be paying is 5% (or $8) more. If you missed something, don’t worry – patience is your best friend. There will always be more signals – it’s not necessarily the case that there will always be more trading capital. If following a challenge, you will need to decide whether or not you think it is worth entering higher. If it’s lower, by all means shoot!
4. Additional note: If you do not see a strike date next to a signal, it is always going to be the contract that will expire the soonest (usually a weekly or 0 date expiration if $SPY or $QQQ).
At the end of the day, we can’t predict the future. Know that not every trade is going to be a winning one. We may even have a string of losses, but overall we’ve been right far more than wrong. Stick with the plan, and let’s all grow our accounts together!
Trading Slang and Vernacular
|ATH||All Time High|
|BP||Buying Power. Basically the free amount of capital in your trading account that can be applied to a trade.|
|Bonezy Hands||Even weaker than wet Paper Hands|
|BTFD||Buy The Fucking Dip.|
|BTMFD||Buy The Mother Fucking Dip.|
|Close||Same as Exit. As in Close your Position. As in exit the trade. As in gtfo.|
|Clown||If you don’t know what this is, you probably are one.|
|Daytrade||A trade that is opened with the intent of closing it on the same day.|
|Diamond Hands||You didn’t sell and held your position through some serious shit.|
|Entry||The price the trade was opened at.|
|ER||Earnings Report. Refers to when a company will be disclosing their quarterly earnings report.|
|Exit||Same as Close. As in Close your Position. As in exit the trade. As in gtfo.|
|Fire||Good/excellent/exciting. Also one of Brett’s top 5 favorite words.|
|Gandalf||The Trading Wizard himself. Vinny is a god in his own realm.|
|GOAT||Greatest of All Time. Dario’s real name. Has zero reference to his sexual orientation.|
|Heavy||Same as Load the Boat. Means to open a larger position size than you normally would.|
|Iron Hands||You didn’t sell and held your position through some shit.|
|Light||Means to open a smaller position size than you normally would.|
|Lit||Good/excellent/exciting. Can also mean drunk/wasted. But in here, it’s mostly the first definition.|
|Load the Boat||Same as Heavy. Means to open a larger position size than you normally would.|
|Long||You think the stock is going to go up.|
|Paper Hands||You sold and exited your position as soon as a deer farted.|
|Runner(s)||A small part of your position you have left after trimming several times. You hold these at little to no risk (because of said trims) just in case price continues to run in the direction of your trade. Also someone who skimps out on paying their restaurant bill.|
|Scalp||A trade that is opened with the intent of closing it within a few minutes/hours.|
|Set||To appoint, or fix (like set your alarm). If we say Set, it means to place this order in your broker and wait for it to hit. This could be an entry, a trim, or an exit.|
|Short||You think the stock is going to go down.|
|SL||Same as Stoploss/Stop. Refers to the predetermined price where you fully exit your position.|
|Stonk(s)||Stocks, but misspelled on purpose and in a somewhat derogatory manner.|
|Stop||Same as SL/Stoploss. Refers to the predetermined price where you fully exit your position.|
|Stoploss||Same as SL/Stop. Refers to the predetermined price where you fully exit your position.|
|Swing||A trade that is opened with the intent of closing it within a few days/weeks.|
|Tendies||Profits/Gains (Gainz)/Money. Short for Chicken Tenders.|
|Trim||To cut away or cut off a part of something. Refers to a part of your position. If you have multiple contracts/stocks, you trim by closing out a portion of your position. If you only have one contract/stock, you can either exit fully, or hold on. It’s up to you.|
|YOLO||You Only Live Once. Plays marked with YOLO are ‘swing for the fence’ types, and should only be entered if your account size can afford the risk, or if you are playing with house money. Typically, the entire position size is the stoploss.|