Wallstreetbets WHOOPSIE!
- Thread starter Bugsy
- Start date
Get a hoot at reading the posts of the Reddit traders, you got to love their enthusiasm. To infinity and beyond. For all the talk about taking $13 billion from two hedge funds, never happened folks. You really think those Reddit traders have $13 billion to risk in the market amongst them? No dummies. It was other hedge funds who got most of that $13 billion. A few Reddit touts got out with a nice chunk of change. Most of them, lost most of their monies. I did trade GME (twice but, got stopped out) and AMC where I made a good amount too. My mistake was not getting into GME when it was $44.00. That would have been a 300% return in one day. I had 3 other trades so, opted not to get in. Did trade RKT too and held it for a couple of days with put options. That was a good trade too.
The problem with them is that any of them who do happen to make any money will inevitably lose it somewhere else. They don't have a fucking clue what they are doing. All WSB is is a glorified Pump and Dump sub where a few get lucky while the rest get fucked holding the bag, so any who win on one day will lose it all the next. 99% of them will lose it to the hedges on a long enough time scale.
Except, there is an article where they interviewed the Reddit traders and most of them lost most of their monies. In another article, it talks about how much monies other hedge funds made over GME and AMC. I think it is safe to say, most Reddit traders lost most of their monies because of their ignorance. A lot of them had no clue what they were doing and were paying the stock prices even at the very top.
That I believe.
hardworking people - higher chance of earning $$$.
lazy people - lower chance of earning $$$.
Of course the common answer to being irresponsible on WSB
Considering the vast majority of them probably live with mommy and daddy into their 30s I doubt it will be a tough 7 years. Cheers to being a forever child in this new age.
Douglasbarbin is off a bit. For personal bankruptcy chapter 7 (which is what you'd want, rather than 13) is 10 years.
I don't know. Robinhood to my knowledge has no paper trading.
How many people on ET have you seen make thousands or hundreds of thousands on a position using a broker that doesn't have paper trading?
Meanwhile you have people like @maxinger who still has to daytrade after 20 years to make money. The average ET'er dies by a thousand cuts, the WSB'ers go out in a boom.