Trading the stockmarket (NO Referrals)

mid_gen · 27 Jan 2021 at 10:30

Martynt74 said:
212 for me.

How do you deposit?

I've done 3 now with differing levels of success

1st - Bank Transfer (set up from my bank) - Showed in my account within a few hours

2nd - Same as above. However this was on the 14th of Jan and still no sign of it. Support just keep saying they're looking into it. Getting annoyed by it now, luckily only £200. Although if i'd put that into GME back on the 14th....

3rd - "Instant" Bank Transfer where they use open banking. This showed up in a few minutes

I've not tried a debit card but others on here seem to have had decent success with that.

I've connected the instant transfer thing now to my Starling account. It is instant.

Bank transfers tend to take a day, although I had one recently that went missing for a week and a half and I had to chase their support for....

Minusorange · 27 Jan 2021 at 10:30

Skillmister said:
Isn't that what basically happened with the housing market and CDOs (pulling on my extensive watching of The Big Short)

Not really, housing market was more complex

Martynt74 · 27 Jan 2021 at 10:37

mid_gen said:
I've connected the instant transfer thing now to my Starling account. It is instant.

Bank transfers tend to take a day, although I had one recently that went missing for a week and a half and I had to chase their support for....

Yeah, now i've set Open Banking up i'll just use that in future. I was a bit cautious about it the first time and then because the first BT worked quite quickly i went for it again, but that's stuck somewhere now. Open Banking all the way from here.

tlrBeta · 27 Jan 2021 at 10:40

Martynt74 said:
Yeah, now i've set Open Banking up i'll just use that in future. I was a bit cautious about it the first time and then because the first BT worked quite quickly i went for it again, but that's stuck somewhere now. Open Banking all the way from here.

OB is the most secure you can use - No fear needed

PS. I work in this world so I would say that

Martynt74 · 27 Jan 2021 at 10:45

tlrBeta said:
OB is the most secure you can use - No fear needed

PS. I work in this world so I would say that

Haha yeah, i'm happy using OB for things like Money Dashboard, this it was just because i was new to T212 i preferred to stick with something i knew.

Simon · 27 Jan 2021 at 10:47

booyaka said:
Still 4 hours till opening time - This has all the hallmarks of total and utter meltdown.....Either in a good way or a bad one....

Insane stuff - Genuinely good luck to anyone involved but staying well out of it.

Madness isnt it!

dirtychinchilla · 27 Jan 2021 at 11:01

I have two trains of thought right now as to what to do with my two shares. I'm up 2.5x if the pre-market value sticks. Either I sell as soon as the market starts up and make that 2.5x, or I wait a bit longer and see if the growth continues and maybe try and make a bit more. Really difficult to know! I see a new monitor in my future either way

Skillmister · 27 Jan 2021 at 11:06

dirtychinchilla said:
I have two trains of thought right now as to what to do with my two shares. I'm up 2.5x if the pre-market value sticks. Either I sell as soon as the market starts up and make that 2.5x, or I wait a bit longer and see if the growth continues and maybe try and make a bit more. Really difficult to know! I see a new monitor in my future either way

My plan is to sell a few on open and hang tight with the rest and let the greed run through for better or worse

Hard to know whether paper hands are going to be worse today because people may well have made serious money that they want to keep or if they will see a prospect of it going really high and hold tight. Like is $1000 a genuine possibility on Friday now?! I laughed reading that last week but now it seems possible

Simon · 27 Jan 2021 at 11:08

Its literally a pump and dump, timing is the key but no different to a casino.

Pre market might be misleading too, there could be a huge dump at open.

unwashed potato! · 27 Jan 2021 at 11:08

Skillmister said:
Like is $1000 a genuine possibility on Friday now?! I laughed reading that last week but now it seems possible

Indeed that is the question. As the news gets bigger, things like Elon tweeting, all these things push it up further. At some point it has to drop, and when it starts to drop I imagine the amount some have earned is going to seem not worth risking it dropping further just to be greedy so they will pull and then it'll really start to tumble down.

arknor · 27 Jan 2021 at 11:10

Apex said:
Indeed that is the question. As the news gets bigger, things like Elon tweeting, all these things push it up further. At some point it has to drop, and when it starts to drop I imagine the amount some have earned is going to seem not worth risking it dropping further just to be greedy so they will pull and then it'll really start to tumble down.

probably be a huge dip at market open for USA imo.

but people probably have more faith than yesterday especially after elon saying hes on WSB discord https://twitter.com/elonmusk/status/1354207855109410819

it's probably made loads of normies join

Skillmister · 27 Jan 2021 at 11:12

Simon said:
Its literally a pump and dump.

I mean it isn't though is it. Its not a penny stock being pumped up with absolutely no reasoning. There is a genuine issue with the shorts. It wouldn't be in mainstream media like it is otherwise. Guardians article this morning was pretty good

Yes it's being pumped now but that doesn't take away from the short position

dirtychinchilla · 27 Jan 2021 at 11:23

Skillmister said:
I mean it isn't though is it. Its not a penny stock being pumped up with absolutely no reasoning. There is a genuine issue with the shorts. It wouldn't be in mainstream media like it is otherwise. Guardians article this morning was pretty good

Yes it's being pumped now but that doesn't take away from the short position

How do you expect that to translate into the real world?

Skillmister · 27 Jan 2021 at 11:25

https://twitter.com/SquawkCNBC/status/1354386200157675521?s=08

True or an attempt to drop it so they can pick up some dips? Who knows.. Certainly seems to be taking a hit

Russinating · 27 Jan 2021 at 11:28

What is the general professional advice with regards to exposure? Should it be calculated as cost or value? I am for example heavily over-exposed to Tesla at the monent, but only due to gains; my value of holdings represent about 35% of my total including cash, but less than 5% of costs. I could sell 100% of my initial investment and still have it be 30% of my holdings.

Should you sell when stocks gain simply due to exposure, base that on cost, or another determination?

Kreeeee · 27 Jan 2021 at 11:30

Martynt74 · 27 Jan 2021 at 11:36

Skillmister said:
https://twitter.com/SquawkCNBC/status/1354386200157675521?s=08

True or an attempt to drop it so they can pick up some dips? Who knows.. Certainly seems to be taking a hit

Presumably if they have shorted over 100% of the stock, then the price would've absolutely rocketed if they closed all their positions?

Trusty · 27 Jan 2021 at 11:37

Martynt74 said:
Presumably if they have shorted over 100% of the stock, then the price would've absolutely rocketed if they closed all their positions?

It has rocketed though, $4 to $250 :eek:

Trusty · 27 Jan 2021 at 11:38

Russinating said:
What is the general professional advice with regards to exposure? Should it be calculated as cost or value? I am for example heavily over-exposed to Tesla at the monent, but only due to gains; my value of holdings represent about 35% of my total including cash, but less than 5% of costs. I could sell 100% of my initial investment and still have it be 30% of my holdings.

Should you sell when stocks gain simply due to exposure, base that on cost, or another determination?

Over 10% of your portfolio in one stock is unusual

G-MAN2004 · 27 Jan 2021 at 11:41

Guy on CNBC just said Melvin are out, which dropped the premarket price massively. How is this legal when they're clearly not out?