From December 2020.
“I'm telling you guys, the 10 and 20, those are the main ones: the 10, 20 and 50 [day moving averages]. Those are the only indicators you need.
You don't need a single indicator other than those: the 10-, 20- and 50-day moving averages, and maybe VWAP if you want to short, but I wouldn't recommend it to anyone, because most of you are just going to blow up faster.
Most of you are going to blow up, but if you're also short, most of you are going to blow up even faster. That's just, unfortunately, the truth. So the slower you blow up, the better chance you have to learn, or to actually learn the rules before you blow up, if it makes any sense.
The longer you can keep your money by not doing anything stupid, the better chances you have of making it. That's why I only really recommend that you buy these simple breakout setups.”
“It's the hardest thing to do sometimes, following the rules. ‘You want to outsmart yourself,’ exactly. Less thinking and more rule- following. I've realized I don't have the brain power to outsmart the 10- and the 20-day moving averages. I've been trying for so many years to outsmart them but I haven't been able to do it consistently.”
“You don't want to be in a stock that doesn't go up. But once you're in it and it starts working, that's when you should have a lot of patience and really wait for the first close below the 10-day. You want to give the stock every opportunity to succeed. That's how you make the big money, by catching these big movers and not shooting yourself in the foot.”
“There's no way I'm ever going to move to Saudi Arabia, no way, to avoid taxes. I'm not going to move to Dubai either, no way. Qatar, no. Any amount of taxes is worth living in California, I don't know. Monaco, yeah, ‘Estonian company, I'm in the process of opening.’ Yeah, you can't live in Sweden and not pay taxes. But I don't want to live in Monaco; what the hell would I do in Monaco? Take walks on the beach? What the hell do you do... well, during the summer, half of the year I enjoy life, and during the winter months I'm depressed; that's what we do in Sweden, or in Northern Europe. It's a simple life: from May to September you're happy, October to April you're unhappy. It's a very simple, uncomplicated life.”