Trading the stockmarket (NO Referrals)

413x · 28 Jan 2021 at 16:20

I think if I hadn't been in crypto for years I'd have gotten sucked into this too.

And I think I'd have gone in yesterday. Literally because of FOMO.

It's so tempting. The greed and seeing people making life changing sums is so tempting

booyaka · 28 Jan 2021 at 16:20

One look at WSB - scares me how many people are still trying to convivence themselves to hold - horrible

Gaygle · 28 Jan 2021 at 16:20

Megahurtz400 said:
I'm playing with money I can afford to lose.

When I first got an interest in trading/investing only a few weeks ago, this is the one hard and fast rule people need to remember. This GME effect has attracted millions of absolute rookies to places like T212 and after GME is gone and forgotten, I'd hypothesise that a fair portion of these people are going to keep using the platform to trade other shares, and are going to look at the "TOP WINNERS" tab and see that shares in some random nothing company went up 150% and chuck their money into it, not being aware that it's a pump and dump.

Going forward, I have a feeling that in the short term at least, lots and lots of people are going to trade on what's popular or being spoken about. Could be fun for some more experienced traders?

413x · 28 Jan 2021 at 16:21

booyaka said:
One look at WSB - scares me how many people are still trying to convivence themselves to hold - horrible

Were you around during the first crypto peak?
Mirror image

kakarott · 28 Jan 2021 at 16:22

Did DSV ever sell his shares?

StriderX · 28 Jan 2021 at 16:24

I feel that the gamification of the stock market will end up with a lot of angry people.

Russinating · 28 Jan 2021 at 16:25

Gaygle said:
When I first got an interest in trading/investing only a few weeks ago, this is the one hard and fast rule people need to remember. This GME effect has attracted millions of absolute rookies to places like T212 and after GME is gone and forgotten, I'd hypothesise that a fair portion of these people are going to keep using the platform to trade other shares, and are going to look at the "TOP WINNERS" tab and see that shares in some random nothing company went up 150% and chuck their money into it, not being aware that it's a pump and dump.

Going forward, I have a feeling that in the short term at least, lots and lots of people are going to trade on what's popular or being spoken again. Could be fun for some more experienced traders?

This for sure. It's still playing with fire though and you'll (plural) never beat the algorithms. I'm sure a lot of amateurs just lost a lot of money.

I do wish there was another pronoun for the plural form of you...

Martynt74 · 28 Jan 2021 at 16:25

booyaka said:
One look at WSB - scares me how many people are still trying to convivence themselves to hold - horrible

Yeah, that's the truly scary thing here!

Sharkhouse · 28 Jan 2021 at 16:25

413x said:
Joy and pain in equal measure (obviously)

There's going to be people hanging on to 10 percent of what they put in. Horrible

I do feel bad for the people who thought they were going to change their lives with this but it always ends the same way. I'm always amazed people don't have that thought 'this is too good to be true'.

Rex-Kramer · 28 Jan 2021 at 16:26

It is utter market manipulation that the price has not been allowed to organically find its way. To stop the buying but allow the selling is pretty much criminal.

Ahleckz · 28 Jan 2021 at 16:26

I've sold the rest of my holdings I hold at 212. I just won't support them. It's completely criminal.

md85 · 28 Jan 2021 at 16:26

I got out with barely any profit. Not because I didn't try to sell (had a $400 stop loss set) but the halts tore through them and Nordnet didn't fulfil the orders, managed to get through during the $163 halt. A lot of people just lost a lot of money in that 30 minutes, in those scenarios funds have the advantage (another one) - average joe bloggs' are all sat there refreshing the same web page trying to get a sale through.

Mesai · 28 Jan 2021 at 16:27

Sharkhouse said:
I do feel bad for the people who thought they were going to change their lives with this but it always ends the same way. I'm always amazed people don't have that thought 'this is too good to be true'.

Makes it easier to manipulate things because the retail investors care about their money and will panic to cover, whereas these guys own the system. That being said, it was never going to end well for a lot of people.

Sharkhouse · 28 Jan 2021 at 16:27

Gaygle said:
When I first got an interest in trading/investing only a few weeks ago, this is the one hard and fast rule people need to remember. This GME effect has attracted millions of absolute rookies to places like T212 and after GME is gone and forgotten, I'd hypothesise that a fair portion of these people are going to keep using the platform to trade other shares, and are going to look at the "TOP WINNERS" tab and see that shares in some random nothing company went up 150% and chuck their money into it, not being aware that it's a pump and dump.

Going forward, I have a feeling that in the short term at least, lots and lots of people are going to trade on what's popular or being spoken again. Could be fun for some more experienced traders?

I bought NIO and PLUG when they were both under $10 per and they've shot up but if anything I was worried they were being pumped. I genuinely believe in the companies and this market manipulation **** scares me. The bubbling bull market we appear to be in spooks me even more though.

Sharkhouse · 28 Jan 2021 at 16:28

Mesai said:
That being said, it was never going to end well for a lot of people.

Wise words my dude.

Mesai · 28 Jan 2021 at 16:29

Sharkhouse said:
I bought NIO and PLUG when they were both under $10 per and they've shot up but if anything I was worried they were being pumped. I genuinely believe in the companies and this market manipulation **** scares me. The bubbling bull market we appear to be in spooks me even more though.

Those stocks have genuine future value, but that's also why they'll move so erraticaly and probably be the first to drop if the bubble is real.

413x · 28 Jan 2021 at 16:29

StriderX said:
I feel that the gamification of the stock market will end up with a lot of angry people.

It did with crypto. Times when I wanted to quit. Its taken me years to even be able to understand what I need to do to have a chance at making something from the gamification of it

Sharkhouse · 28 Jan 2021 at 16:29

Sharkhouse said:
I bought NIO and PLUG when they were both under $10 per and they've shot up but if anything I was worried they were being pumped. I genuinely believe in the companies and this market manipulation **** scares me. The bubbling bull market we appear to be in spooks me even more though.

with this said, I chose to buy this year and that's what I'll do all year. Dollar cost average all the way.

Theophany · 28 Jan 2021 at 16:29

Rex-Kramer said:
It is utter market manipulation that the price has not been allowed to organically find its way. To stop the buying but allow the selling is pretty much criminal.

WSB have manipulated the market in a blatant pump and dump. If you're earnestly buying shares with a P/E in the thousands, you shouldn't really be allowed on the platform to begin with.

Emma Liz · 28 Jan 2021 at 16:30

413x said:
This is worse than btc. At least btc basically always recovers (to date) this share will never recover

Define recover. It will probably return to the price it was before all this nonsense started.

Ahleckz · 28 Jan 2021 at 16:31

Maybe we're just in the dip before the squeeze...