Trading the stockmarket (NO Referrals)

Damn volatility.

I wasn't particularly thinking last night and set a market buy order for Rolls Royce whilst logged into my T212 account.

It opened at 96 at which point my order kicked in, then immediately fell to 92. Had i just not been lazy and logged on this morning to do the trade i wouldn't be down 4% :(
 
A lot of FOMO and greed really.
Very few actually wanted to 'screw hedge funds'.
It got into mainstream media and did a bitcoin.

People saw free money. Disgusting amounts of free money. And what appeared to be ordinary people. With a wishy washy moral story to help justify


At 300... It's still going up..I've missed out on this free money. Better put loads in. It could go to 1000. I need to catch up.

Diamond hands
Hold hold hold
Stick it to the big man


The day it was flat-ish for a whole day was a day I bet a lot got in. It was in mainstream news in full swing. But that's the tipping point often.
It was so many peoples first (and probably last) go at stocks.

And at that point people don't want to quit and lose. So hold even longer, often for days of loss, hoping to 'at least get some of my money bsck'

Have to ask yourself..how much effect did the BBC etc reporting it cost people? That's when the ordinary people get in and lose.

There's going to be a lot of hate for reddit/wsb/characters on reddit , from the public who will be looking to blame someone else for their mistake.


Have to admi . If I hadn't been in bitcoin a long time I might have joined the loss train. I have some sympathy, but people should at least know not to put in what they can't afford to lose . But that's often not the case with little retail investors. We put more in than we can really lose.


Worst sin is a lot of people will have convinced friends and family to go in. Which may leave you with no friends or family


Absolutely fascinating
 
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I've noticed a bit of swing in the rhetoric on WSB. A few posts getting upvoted about "if this doesn't go our way" etc.
 
Noxia said:
I've noticed a bit of swing in the rhetoric on WSB. A few posts getting upvoted about "if this doesn't go our way" etc.
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I'm pretty sure most of the people that bought at <10 have taken profits now....it's all the mugs they conned into buying at 200+ that are eating the losses.
 
mid_gen said:
I'm pretty sure most of the people that bought at <10 have taken profits now....it's all the mugs they conned into buying at 200+ that are eating the losses.
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This. Anyone in a 10 ish will (should!) have taken out a chunk at 100, 200, 300. Or something like that. To make 10x is unprecedented.

But the greed of 100x is always there. Its hard to be sensible.
 
mid_gen said:
I'm pretty sure most of the people that bought at <10 have taken profits now....it's all the mugs they conned into buying at 200+ that are eating the losses.
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If one good thing comes of this, hopefully there are some hard stories that get told, that people take heed of. We all hear 'don't invest [gamble] more than you can afford. But hopefully this is a real world example
 
Interesting that the dude who started all of this is an experienced professional trader with a ******** of spare cash.

'GameStop Promoter Keith Gill Was No “Amateur” Trader; He Held Sophisticated Trading Licenses and Worked in the Finance Industry.'

Gill was a clean cut Registered Rep at MassMutual by day and a long-haired, head-banded, fast-talking stock promoter on social media by night, sending out video promotions for GameStop that were filmed at a trading desk he had set up in his basement. (See this YouTube video by Gill. It has a caption suggesting GameStop could go from $5 to $50.)

This is highly likely to be a serious problem for both Gill and MassMutual. A genuine amateur trader could plead ignorance of industry rules about hyping stocks to the public. A heavily licensed industry professional cannot. The fact that Gill passed all those exams means that he knows what the rules are. In addition, the broker-dealer unit of MassMutual, MML Investor Services LLC, that employed Gill as a Registered Rep, could potentially face charges of failure to supervise.

Wall Street’s self-regulator, FINRA, shows on its publicly available BrokerCheck, that Keith Patrick Gill holds the following licenses: a Series 7 that allows him to trade stocks and corporate bonds for clients; a Series 3 which allows him to trade commodities for clients; and a Series 24 which allows him to function as a branch manager of a brokerage firm and supervise other licensed traders. Gill passed his exam for the commodities license eight years ago. He obtained the Series 7 and Series 24 licenses more than four years ago.
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He lost $15 million on Tuesday, but he's still holding.
 
Martynt74 said:
Damn volatility.

I wasn't particularly thinking last night and set a market buy order for Rolls Royce whilst logged into my T212 account.

It opened at 96 at which point my order kicked in, then immediately fell to 92. Had i just not been lazy and logged on this morning to do the trade i wouldn't be down 4% :(
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Its not volatility, you are setting market orders.

How do you think T212 make money?
 
I thought Roaring Kitty was essentially talking to a few hundred people before this all blew up and has, for the most part stayed quiet throughout other than posting his positions with GME. He was just one of the first people to publicise on WSB.
 
relicalpha said:
What’s the current thoughts around IAG long term? Is it likely they can bounce back from all this in 5 year timeframe?
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There are going to be a lot of old aircraft sitting around that can be easily wet leased by a challenger airline (such as what Norwegian were well underway to do if it wasn't for the Trent 1000 engine problems and then the 737 MAX issues). BA is an institution though, and will always be preferred for proper 'cost is no problem' business travel.

Business travel is never going back to where it was though...with the decrease in gross revenue (client billable expenses) the big firms have responded by upping margin targets.
 
platinum87 said:
Its not volatility, you are setting market orders.

How do you think T212 make money?
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I assume through the spread which i accept. That's not what i'm talking about though. I'm talking about the price actually dropping in the opening 5 minutes which if i'd not been lazy and just stuck a market order in last night, i'd have ended up paying.
 
I'm in on ezj. But I've been in since 400.
It's all or nothing with these.

Either covid won't be over this summer and the price will tank. But if (by a miracle) it literally cleared up next month these shares will rocket.

Feels a bit of a binary choice
 
I'm struggling to understand the thought process of people getting in on this at the point that everyone knows about it, i.e. where it's all over the mass media, /r/WSB growing by 6 million users, etc. I mean, if the cat is out of the bag so to speak, then surely the time of mad gains is pretty much over? It's just naked greed surely, nothing to do with GameStop or "sticking it to hedge funds" (that they probably don't understand beyond what someone on /r/WSB tells them)

I also think the notion of everyone holding, "diamond hands", etc is building on quicksand. The people coming in late in the day, looking for mad gains, spending money they barely have, are the ones most likely to be unsettled by drops. You can't expect to corral a motley crew of people with wildly different risk appetites into doing the same thing, especially when there is nothing stopping anyone - particularly the seasoned investers - from getting out or shorting GME themselves, whilst posting threads saying "I'M HOLDIN' DIAMOND HANDS YO!".. I imagine that's what is happening at this point, in the main.

Greed is going to rob quite a few people from a serious amount of money they could've made, but chose not to take because they wanted MORE. In some cases it is going to leave people in serious debt. As always the people with market nous will have already exited at ~450.
 
There’s no doubt this will have been planned months in advance, the share price has steadily been increasing for something like 6 months+. Get a ton of cheap shares, start a Reddit group to pump the shares, sell all your previously acquired shares for a nice fat profit .
 
relicalpha said:
What’s the current thoughts around IAG long term? Is it likely they can bounce back from all this in 5 year timeframe?
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If nothing else....it will get significant bumps every time there's news of travel restrictions being lifted. I'm holding my IAG for a 1-2 year timeframe and I don't much care what it does in the meantime.

Provided they don't go **** up, obviously :P
 
I think this case does have some differences to a more traditional transparent pump and dump, and by the sounds of things if everyone had genuinely stuck properly to the premise (i.e. buy and hold until a proper short spike is triggered) it might have worked, but human nature has a tendency to ruin these things and so of course people bailed out too early
 
mid_gen said:
He stayed quiet, apart from the bit where he was pumping the stock on WSB?
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He was 'pumping' the stock last year and people were telling him to sell because he was going to lose it all. He then continued to double down on his position which he had conviction in. This has not been an easy ride for him at all. DFV is a legend. WSB regulars will respect him no matter what!
 
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