One of the most important lessons in life is learning to assess your failures and implement changes to avoid them in the future as stated in my recent announcement regarding the post-ESSC enviroment here:
In that spirit, I’m announcing serveral changes to our community with that goal in mind.
Invites & Membership Changes
Locking the Gates
The gates to Valhalla have been locked permanently. This means that we will no longer have open invite periods where members are able to freely join our community. Open invites will be replaced by an application and queue system so that we can have a greater understanding of who is coming into our community and more importantly what they offer in the future.
“Reddit Analyst“ Bans
As some noticed, I decided to remove a popular Reddit “DD” analyst from our community, caddude42069. When I initially started extending invitations to users like them, the goal was to enable collaboration on the work that we were all doing individually in hopes of better understanding the difference in everyones approach and hopefully generating more profitable callouts as a result.
However, post ESSC, I’ve come to realize that this isn’t the case and that more often that not these notable “analysts” are only here to leech from us, whether it be by using our analysis to pad their own lacking research or by using our signals and trading ability to make decisions in front of their own audience. In the future, these potential members will be greater scrutinized.
Award Role Changes
Sunsetting Performance Award Roles and the Profit/Loss channel
This week, performance award roles will be removed and reworked. @Groupie brought up a good point that had previously been discussed on the admin side which is that these roles are not in line with the goals of our community and are a remnant of WSB that we need to be move past. The new system, which will be announced this week, will focus on percentage gains and consistency over “YOLO wins” and flashy dollar amounts.
Two Commas
The two commas role will be sunsetted alongside the rest of the award roles. However, a new role will replace it. The “Whale” role will denote members of the community that have a buying power over $300K. While obviously a form of recognition for our more “financially blessed” members, its true purpose is to provide accountability for members that have the potential to derail plays with irresponsible position sizing and trading that is inconsiderate of the community at large.
Signals, Squeezes and Transparency Changes
Public Visibility for All Existing Categories is Disabled
Taking our lockdown a step further, the forum, while now accessible without an account, does not show any of the categories or threads besides those in the newly created #public-announcements category to people who are not logged in. This means they are completely hidden from public view once again. #public-announcements, will communicate invite procedures to the outside world and eventually will house threads and signals for our high sentiment plays to communicate delayed information to the outside world.
Play Tiers
ESSC has exposed the need for a tier system on plays. It’s obvious that events with abnormally high attention need to be treated with a bit more care than our normal day-to-day trading is. As a result, we will create a system to categorize plays and that system will define a set of operating procedures that we will follow to ensure the profitability and safety of our community. The following setup is the gist for high sentiment plays like ESSC, IRNT, etc:
- Members are forbidden from discussing their personal positions. This includes discussion about percentage gains, personal entries and especially personal exits.
- Members are allowed and encouraged to aid others in finding safe entry points.
- Absolutely no sell signals aside from a server wide notification from me personally when a movement has run it’s course. I personally reserve the right to call an emergency sell should the play setup change substantially.
- Discussion of “rolling options” and scalping is forbidden in high sentiment plays.
- Profit taking reminders will be replaced with reminders and help in covering cost basis.
Reading through this setup, it’s easy to think that it looks as though it basically says “you can only convince people to get in and diamond hand and don’t criticize the play”, but this is not the case and to highlight that I offer some clarifications:
- Members are permitted to criticize the viability of the play at all times but should do so as a whole avoiding giving commentary on intraday movements but rather things that could affect the setup.
- Helping members find safe entries also means preventing members from FOMOing. Discouraging entries is permitted. We’re not looking to simply funnel members into plays, the overall goal is to help the community take as good a position as possible and to help them hold that position to maximize profit and provide the most amount of padding between their cost basis and current value as possible.
- Not giving defined sell signals or scalping callouts reduces the risk that a large portion of the community will look to close a portion of their positions at the same time. This is good for holders and sellers as our sell volume will be naturally spread out. If a number of members are selling portions of their position at the same time, they’re all reducing the value of the positions that they’re trying to sell and making less money overall as a result. Similarly, if the sell offs are not sufficiently spread out, they may unintentionally end up not leaving enough room for recovery, changing the trajectory of a play and locking those holding into their positions.
Wrapping Up
Individual announcements for the more substantial changes will be made this week after some further tweaking and finalization. Feel free to discuss the changes and offer suggestions if need be. Also keep in mind that I will be amping up the development side of our community this week and a lot of what we’re working on will solve some of the issues that these changes trying to solve as well in a potentially “better way”. We will obviously change things as our community gets “smarter” and our tools get more “able”.
Looking forward to this week, I think ESSC has been the motivation that we all needed to get more serious about what we’re doing.
