Trading the stockmarket (NO Referrals)

uncle_rufus · 28 Jan 2021 at 11:42

Seems like in the current climate you could allocate a small bit of your investment pot to YOLO in on these WSB type pumps but just have a (relatively) conservative strategy that you stick to in an attempt to avoid getting burnt. Gambling basically, but instead of aiming to go to the moon everytime you say "I'm going to be strict and set my sells to +20%"... Always hopping off the train just as it gets going (but hopefully consistently making your desired amount)

Martynt74 · 28 Jan 2021 at 11:43

uncle_rufus said:
Seems like in the current climate you could allocate a small bit of your investment pot to YOLO in on these WSB type pumps but just have a (relatively) conservative strategy that you stick to in an attempt to avoid getting burnt. Gambling basically, but instead of aiming to go to the moon everytime you say "I'm going to be strict and set my sells to +20%"... Always hopping off the train just as it gets going (but hopefully consistently making your desired amount)

That's basically what my T212 account is for.

95% into Fidelity for structured growth and then Yolo'ing in T212 and trying to make small gains where i can.

413x · 28 Jan 2021 at 11:44

T212 suspending trading is absolutely disgusting.

Like it or not (I Missed out) when you don't like it just blocking buys?

Could it kill their business?

Ahleckz · 28 Jan 2021 at 11:45

I can't believe T212 has stopped trading (or buying). It seems madness and completely unfair.

Martynt74 said:
That's basically what my T212 account is for.

95% into Fidelity for structured growth and then Yolo'ing in T212 and trying to make small gains where i can.

Yep, me as well. Though I'm around 85% in HL (mainly funds, though one or two shares) and 15% in T212 for Yolo!

I love how Yolo has come back into vernacular.

413x · 28 Jan 2021 at 11:45

uncle_rufus said:
Seems like in the current climate you could allocate a small bit of your investment pot to YOLO in on these WSB type pumps but just have a (relatively) conservative strategy that you stick to in an attempt to avoid getting burnt. Gambling basically, but instead of aiming to go to the moon everytime you say "I'm going to be strict and set my sells to +20%"... Always hopping off the train just as it gets going (but hopefully consistently making your desired amount)

This is what I tried last month with crypto.
It worked once out of 2.and worked well. Unfortunately I then have been caught out by the general fall. So although I was up against btc. I was flat on gbp.

Tweek_1984 · 28 Jan 2021 at 11:47

Vote with your feet and change brokerages

Hyburnate · 28 Jan 2021 at 11:48

Apparently the FCA are involved with the T212 situation.

Basher · 28 Jan 2021 at 11:48

Martynt74 said:
That's basically what my T212 account is for.

95% into Fidelity for structured growth and then Yolo'ing in T212 and trying to make small gains where i can.

Why not have it all in the same place so you can wrap it all tax free?

kakarott · 28 Jan 2021 at 11:48

What's the next best alternative to T212?

Martynt74 · 28 Jan 2021 at 11:49

Tweek_1984 said:
Vote with your feet and change brokerages

What are the alternatives though?

Other than for this, T212 have been superb, they allow you to trade US shares with virtually zero fees. For 99.99% of the time, they seem very good.

uncle_rufus · 28 Jan 2021 at 11:49

413x said:
This is what I tried last month with crypto.
It worked once out of 2.and worked well. Unfortunately I then have been caught out by the general fall. So although I was up against btc. I was flat on gbp.

With a large enough pot I think you'd also have to eat losses before they get too large and leave you stuck - maybe get out on any misjudged position after a fall of 5% or something like that. Not going to be pretty if you get unlucky too often but at the end of the day it is just gambling doing it this way, so far from a sure thing

arknor · 28 Jan 2021 at 11:49

Simon said:
They probably cant buy any shares, they are brokers. They make money on the trades not their positions

who 212?
They loan your shares out, read the terms.

They potentially loaned our shares to people like marvin thinking it was a safe bet and guess what happens if the people they loaned shares to goes under.
t212 ain't getting the shares back.

IMO only reason GME and AMC got closed is because t212 are bricking it they are about to make a massive loss

Trig · 28 Jan 2021 at 11:49

Martynt74 said:
Yolo'ing in T212 and trying to make small gains where i can.

This...
I'm not doing too bad at the mo, I've put about £300 into T212 in actual cash, I'm sat on £500 now for maybe 3 months worth of playing...

Martynt74 · 28 Jan 2021 at 11:50

Basher said:
Why not have it all in the same place so you can wrap it all tax free?

The T212 is in my wifes name, and the Fidelity is in my name.

I have both my SIPP and my wifes SIPP with Fidelity and it's nice to see the total pot, but with their fees it's not really feasible for smaller trades.

Gibbo · 28 Jan 2021 at 11:51

Maccy said:
Indeed, I'd go higher @Gibbo

OK I will set it at $595 or do people think higher as in set it to like $900 ?

Basher · 28 Jan 2021 at 11:52

T212 doesn't surprise me. It's always come across to me as a platform to get data on retail investor movements, so big hedgies can either front run or liquidate their positions.

Ahleckz · 28 Jan 2021 at 11:53

Gibbo said:
OK I will set it at $595 or do people think higher as in set it to like $900 ?

More that hold, less the shorts have available to buy to cover their positions, so more the price rises.

Skillmister · 28 Jan 2021 at 11:54

Basher said:
T212 doesn't surprise me. It's always come across to me as a platform to get data on retail investor movements, so big hedgies can either front run or liquidate their positions.

It's well know Robinhood do that in the US in fact I was reading the other day that they sell the data to Citadel who were the ones bailing out Melvin!

There's no wonder this has put some fear into them.

It is a shame that a lot of retailers are going to be the ones to lose out and the hedge funds will get away with it

Simon · 28 Jan 2021 at 11:54

Gibbo said:
OK I will set it at $595 or do people think higher as in set it to like $900 ?

Dont get greedy and be a bag holder.

shiver · 28 Jan 2021 at 11:54

Gibbo said:
OK I will set it at $595 or do people think higher as in set it to like $900 ?

Careful now, this thread will turn into another r/wsb

Maccy · 28 Jan 2021 at 11:55

Gibbo said:
OK I will set it at $595 or do people think higher as in set it to like $900 ?

Depends on your attitude to risk vs reward - for me 900 would be too high, but considering the pre-market high is currently 513 and looks to be on an upward trend, I'd be looking at 600 (personally). Also as you're using 212 don't be surprised if it doesn't go through and leave you in the ****.