Trading the stockmarket (NO Referrals)

Daze · 2 Feb 2021 at 19:48

Most of the losses on WSB are unrealised gains though, and it seems the majority of these guys with big positions are holding.

Noxia · 2 Feb 2021 at 19:50

It's easy to sit here and laugh at peoples stupidity but a lot of it could have been driven out of desperation for the hope of a quick buck. When/if that isn't realised for them I worry for those most of all.

Biz.Kid09 · 2 Feb 2021 at 19:52

Currently down about £40, do I let it go and just see if there is a recovery or take the loss.

Krono5 · 2 Feb 2021 at 19:57

Noxia said:
It's easy to sit here and laugh at peoples stupidity but a lot of it could have been driven out of desperation for the hope of a quick buck. When/if that isn't realised for them I worry for those most of all.

The random boomers that got in at $300+ without knowing why because one of their idiot relatives told them to buy GME is a bit disheartening. All this diamond hand nonsense is just to trick those who are a bit slow, at the end of the day everyone's there to make money and if you're not looking out for #1 and "fighting the hedgefunds in solidarity" you're doing to wrong.

For instance my mum can't work during covid so has been trading all day every day for the past 9 months. After I mentioned GME and specifically told her not to get involved she bought anyway. I had to shut that down real quick but by the time she could sell with all the broker problems I think she just about got out even on friday.

Spleen Sauce · 2 Feb 2021 at 19:57

Biz.Kid09 said:
Currently down about £40, do I let it go and just see if there is a recovery or take the loss.

Depends how much you put in originally and how much you’re prepared to lose.

Biz.Kid09 · 2 Feb 2021 at 19:58

Spleen Sauce said:
Depends how much you put in originally and how much you’re prepared to lose.

£140 hah, it was 1 share back when it was that price.

Emma Liz · 2 Feb 2021 at 19:59

Wait. You mean GME didnt moon? Well I am surprised

Spleen Sauce · 2 Feb 2021 at 20:01

Biz.Kid09 said:
£140 hah, it was 1 share back when it was that price.

In which case are you happy to gamble the £100 you have left? Personally I think the ship has sailed to be honest but I could be completely wrong.

Biz.Kid09 · 2 Feb 2021 at 20:02

Emma Liz said:
Wait. You mean GME didnt moon? Well I am surprised

You could argue it did, its just come back to earth now. Elon would be very happy with the GME Rocket.

Spleen Sauce said:
In which case are you happy to gamble the £100 you have left? Personally I think the ship has sailed to be honest but I could be completely wrong.

Well that is the question, ill see how "power hour" plays out!

Noxia · 2 Feb 2021 at 20:03

Emma Liz said:
Wait. You mean GME didnt moon? Well I am surprised

Did you make this account because you were worried about posting on your main one?

I predict power hour will be flat.

Emma Liz · 2 Feb 2021 at 20:05

Noxia said:
Did you make this account because you were worried about posting on your main one?

Huh?

Emma Liz · 2 Feb 2021 at 20:08

Biz.Kid09 said:
You could argue it did, its just come back to earth now.

True.

Deus Ex · 2 Feb 2021 at 20:10

Krono5 said:
For instance my mum can't work during covid so has been trading all day every day for the past 9 months. .

What has she actually been doing, buying individual shares or momentum trading? How long is she holding for?

Minusorange · 2 Feb 2021 at 20:12

So with this

Using losses to reduce your gain
When you report a loss, the amount is deducted from the gains you made in the same tax year.

If your total taxable gain is still above the tax-free allowance, you can deduct unused losses from previous tax years. If they reduce your gain to the tax-free allowance, you can carry forward the remaining losses to a future tax year.

Do you just need to keep records of the loss to use in a future year ? Might be useful for anyone who actually did lose on this gamble

Krono5 · 2 Feb 2021 at 20:26

Deus Ex said:
What has she actually been doing, buying individual shares or momentum trading? How long is she holding for?

I can't determine an actual strategy which worries me but she's up about 50% for last year so I just guide her away from the most risky stuff and maintains a well balanced portfolio.

shifty_uk · 2 Feb 2021 at 20:30

Cant deny, i was drawn into gme by all the hype and steady progressive pace of the share price last week. Told myself I’d close all positions before Friday but as the price started to dip, i held in there hoping for recovery.

I’m down about 1k, big lesson.

I’ll see what tomorrow brings but I suspect itll be a sale before I’m left with nothing. Can’t see it recovering.

mid_gen · 2 Feb 2021 at 20:38

Krono5 said:
I can't determine an actual strategy which worries me but she's up about 50% for last year so I just guide her away from the most risky stuff and maintains a well balanced portfolio.

Dangerous times as there are a lot of people that have got into trading recently that have only seen easy gains. I would advise everyone to be cautious at the moment, especially recent entrants.

The conditions we've had the last 10 months since the Covid collapse are not normal.

wildest_jjk · 2 Feb 2021 at 20:43

Has anyone delved into any gaming/esports ETF's? Just having a look at Vaneck's ESGB though it's not on t212 unfortunately...

https://www.hl.co.uk/shares/shares-search-results/v/vaneck-vectors-gaming-esports-ucits-etf-usd

Lyle44 · 2 Feb 2021 at 20:44

shifty_uk said:
I’m down about 1k, big lesson.
I’ll see what tomorrow brings but I suspect itll be a sale before I’m left with nothing. Can’t see it recovering.

I hope thats money you can 'afford' to lose?

From previous experience, been burnt with shares before:
Either if there's enough profit sell to cover your initial investment or set a limit you'd be happy with and sell at that point (On the basis of something is better than nothing) just be prepared to not make mega £££

inferno · 2 Feb 2021 at 20:58

This whole situation is quite unfortunate because wsb was really awesome, it was slowly deteriorating but with now close to 8 million members its going to be a spam fest. Hopefully most will leave!

Or we could just pump stocks with options. Get in early and get out quick!