Trading 212 is typically the right answer to this but I imagine a lot of people are pretty hacked off at them right now to recommend.
Going to be an interesting year I think. I can see a case for a repeat of the roaring 20's as we come out of COVID but also possibly the beginning of a multi-year bear market, even a depression. The current market valuations and market participants makes me more concerned of a top.
Anyone who gets in now has a coin toss chance of making something. Still believe as it is overvalued its more likely to continue its decent. But a bumpy ride will ensue
Oh lol, just had a 30 minute call and by the time I had done my GME had gone from 70%+ to -40%... Well I ain’t selling at a loss so, diamond hands is it they say lol
It's amazing seeing how the human psyche works. Anyone involved in this knows the risks and what the potential is yet does it anyway and then it's all drama when it goes pop. It's gambling, pure and simple. Someone in this thread is even saying that he's using money that was meant for his house, like wtf I do hope that RH and 212 go bust for this though, there's no excusing their behaviour.
If you're truly risk averse then you need 2 things. 1 - Google 2 - A notebook to write it (I guess a pen brings us to 3) Make a grid stating: 1- name of stock 2- the amount you want 3- the cost per share 4 - the date 5 - If first buy: why you want the stock. What does the company do that makes you believe in them. What innovations do they have that are being overlooked? - If selling: what has changed making you want to sell. for 6 months you should follow this notebook putting in the new info once a week and tracking your virtual losses and gains. Through this you will learn to not take silly risks (GME etc), how to be patient, exactly which stock you want. Then after 6 months cut your choices down to 2 and no more. buy those two stocks with money you are willing to lose. Imagine its already gone, you've spent it on the upcoming learning experience and nothing more. Now sign a contract to your future self saying you wont be an idiot. Hold that stock for at least 6 months, only selling when high and buying in every month the same amount. whilst you're waiting read the intelligent investor and learn the importance of the patient investor.
Yep. One of the dead cats that drags fomoers back in They already lose. Sell. See it going back up. Buy in, it drops again and they lose some more
https://www.ft.com/content/4a439398-88ab-442a-9927-e743a3ff609b WSB really socked it to big hedge funds.
Well there’s the more than predictable dump after the enormous pump. I wonder where it goes from here.
Thanks gents, food for thought. Obviously when I say risk averse, i'm talking in relative terms, as to be truly risk averse would mean I wouldn't even be thinking about it, just dumping money in cash ISAs and premium bonds (though I think they recently got gimped pretty hard)
Yep! Seen it! It's a bloody joke TBH but I've not made a loss so I've just been in it for the ride. It's just frustrating that I was up almost £4k and now have nothing. I have my 50 AMC shares so will keep those and see what happens.
People wondering why their stop losses are getting filled well below their limit. So many newbs getting burned.
