WSJ: Everyone’s a Day Trader Now

[Bugsy]

Bored, isolated and out of work amid the pandemic, millions of Americans are chasing stock-market glory—and bragging about it online. Not everyone’s a winner though.

http://archive.is/gxdp5

 

[Nobert]

Not everyone’s a winner though.

I used eToro prior to this.

But now , in my home region, an army of the stimulus traders, got wasted, and reported it for being a - scam.

So the follow up was, that my bank, banned direct-deposit links related to eToro. Not even a single $ is allowed. They send you some sort of a message,via phone, about people loosing money in there. And yet, you can still make a standard international wire trans-fare, via the same bank - to the same broker.

And eToro says nothing about it being banned in my country, so that could be the policy of this individual bank only.

Noone is safe, from the rage of noobs

But it's alright, found new broker & even a better one.

p.s there is a chance, that it was an order from the central bank of our country, but now it's irrelevant. (due money laundering & etc)

 

[FSU]

There is an existing thread on this article arlready,

https://www.elitetrader.com/et/threads/day-trading-wsj-article.348033/

 

[zdreg]

There is an existing thread on this article arlready,

https://www.elitetrader.com/et/threads/day-trading-wsj-article.348033/

There is one big difference. In the other thread the article is behind a Wall Street Journal firewall.

 

[Cuddles]

I remember the bubble popping in crypto shortly after Jon Oliver did a segment. Are we there yet?

 

[FSU]

There is one big difference. In the other thread the article is behind a Wall Street Journal firewall.

Ahh, Gotcha, thx.

 

[Bugsy]

Some people took to social media, accusing Mr. Barsch of engaging in pump and dump, one of the oldest forms of market fraud and involving people usually circulating rumors or fake news to lift a stock’s price while leaving buyers with shares that will soon plummet in value. Mr. Barsch denied the claims.

That's all this is. Everyone on Reddit and Twitter pumping stocks while the first ones exit leaving 10s of thousands of bag holders.

 

[Nobert]

Newbie investors: 'I didn't know I'd lose money so fast'
https://finance.yahoo.com/news/amateur-investors-didnt-know-id-222524644.html

 

[zdreg]

Write your congressman for a bailout. It is the American way.

 

[Bugsy]

Newbie investors: 'I didn't know I'd lose money so fast'
https://finance.yahoo.com/news/amateur-investors-didnt-know-id-222524644.html

He spent hours [emphasis mine] watching online tutorials and studying how to trade, but when he opened an account, he burned through his stake in a matter of minutes.

"I started off with €100. I felt super-confident watching the ticker as stocks and shares were going up and down," he said.

Hours you say!?! How could things have gone so wrong?!