I invested in GameStop.....

RaymondLin

Simonh said:

someone I know is predicting a big comeback for ripple (XRP) and also heavily investing in Enjin.

he is very rich though and can afford to lose if he gets it wrong, I have to be a little more circumspect!

Enjin to me seems to be VERY pump and dump, it goes around like a yo-yo.  XRP has plateaued in the past couple of weeks.  But from my un-professional opinion they are all seemingly random.  Some goes up without any major events or reason.  Such as over the weekend pretty much all the crypto dropped about 10-20%, but one or two gained like 200%...you can't predict crypto, i take any claim with a massive pinch of salt.  

That said, there is a UK computer forum where some people have made millions and millions from it, mainly from they took on bitcoin from like 7-8 years ago.  They even start new threads like "New new Cryptomobile" when they buy a new car from the crypto profit, as in Lambo, Ferrari etc.  These members have been on the forum for like 15-20 years and you can search their history in their posts (in both car history to their posts on their comments on crypto etc), it's unlikely they are lying.  They are pretty open to what they made.


Disclaimer - I am not a financial advisor, and this is not financial advice, always do your own research.

spark240

joeyowen said:

@RaymondLin ;  if you don't mine me asking, what do you use for buying and selling?  Options on revolut are basic really (which I know is a good thing).  But I fancy some sport, as I spend 100% of my working day in front of a PC nowadays, it might keep me busy during down times.

I went for Etoro...seems ok.

spark240

RaymondLin said:

spark240 said:

RaymondLin said:

hasn't this boat sailed?  The Reddit forum has been pumping this before and then they dumped it and it fell.  I guess it could go up a bit more now with the US passing the Stimulus bill and their vaccination program getting on the way.  but 800%?  

But then what do I know? I am trying to swing trade in crypto at the moment lol

Yeah it sort of had a blast....then a slight resurgence of interest, so on a whim I dropped a few quid for the ride...the sensible thing would be to bail now with double money...but there might still be some excitement so Im gonna hang in there ;-)  ...see if I can finance that illusive PRS semi hollow Special !   

More fun doing Crypto, you don't even need much...between March 7th to today, this went from 0.06632 to 0.5 currently.  Stick £50 in and it would be worth £500.  10x. (if you can repeat that a few times....the numbers will be crazy in a short space amount of time from starting with peanuts) But...it's literally gambling and subject to Capital gains above £12k profit IIRC.

mm...cant find that on Etoro ..

WiresDreamDisasters

If I were looking to invest in coin now, I wouldn't be picking one that has +135% 24-hour change. I'd be looking for a promising and well respected coin that is currently at a negative; something like Monetha or Audius.

I too am not a financial advisor. Just a twat.

DefaultM

spark240 said:

DefaultM said:

Just seems like a pump and dump at this point. People going on about how it will go to 100k a share. Be nice if it did as I've got a share but... Yeah.

I've written mine off. I'm not gonna sell it unless it squeezes, and we've already seen that as soon as the price rises they close the market and have a congressional hearing haha.

Word is that squeeze will come daily now...trying to trigger the stop losses and get folks to bail...problem is most of the investors are low value, so they are prepared to stick it out ....  lose the lot or win big ;-)

If thats the case I might buy another share when it dips if its just gonna rise again.

RaymondLin

spark240 said:

RaymondLin said:

spark240 said:

RaymondLin said:

hasn't this boat sailed?  The Reddit forum has been pumping this before and then they dumped it and it fell.  I guess it could go up a bit more now with the US passing the Stimulus bill and their vaccination program getting on the way.  but 800%?  

But then what do I know? I am trying to swing trade in crypto at the moment lol

Yeah it sort of had a blast....then a slight resurgence of interest, so on a whim I dropped a few quid for the ride...the sensible thing would be to bail now with double money...but there might still be some excitement so Im gonna hang in there ;-)  ...see if I can finance that illusive PRS semi hollow Special !   

More fun doing Crypto, you don't even need much...between March 7th to today, this went from 0.06632 to 0.5 currently.  Stick £50 in and it would be worth £500.  10x. (if you can repeat that a few times....the numbers will be crazy in a short space amount of time from starting with peanuts) But...it's literally gambling and subject to Capital gains above £12k profit IIRC.

mm...cant find that on Etoro ..

To quote Warren Buffet.

"Be Afraid when others are greedy; Be greedy when others are afraid".

Buying when something surges like that usually means you have missed the boat, like all things, they tend to correct themselves, like Tesla stocks have dropped.  

Use https://coinmarketcal.com/en/ to see which coin has upcoming events, research which ones are real and which looks fake.  There are like over 8000 crypto out there, a lot of them are made to print money and then run.  

Disclaimer - I am not a financial advisor, and this is not financial advice, always do your own research.

ThePrettyDamned

I signed up to binance to see what it was all about and holy cow there are more crypto currencies than I thought.

Won't be touching it until I've learnt an awful lot more... 

RaymondLin

ThePrettyDamned said:

I signed up to binance to see what it was all about and holy cow there are more crypto currencies than I thought.

Won't be touching it until I've learnt an awful lot more... 

90% of them are like less than a year old.  Crypto is still very new at the moment, if you don't want to do day trading (which I personally am crap at, i attempted it for 1 day, lost 20%), I am more a swing trader, buy something with potential, wait a while  then sell and move on, that's my plan.  I am semi following a YouTube guy at the moment, he has a series where he is trying to turn $1000 into $10,000.  (he already turned $10,000 into $200,000 in the past 12 months), these are besides any BTC that he holds.

On the subject of it being a new thing, some crypto will no doubt die, and what you bought will be worth nothing.  So research is really required.  Who makes that crypto, who is backing it, who is invested in it.  

Eventually like VHS vs Betamax, some will win, some will lose, the luck here is pick the right horse and hope it goes to the moon.  Like Bitcoin.  I won't recommend what to buy as I really don't know myself, and I only started about a month ago.  Currently about 30% up from my pot, even after my 20% dip from my mistake trying to day trade.  


Disclaimer - I am not a financial advisor, and this is not financial advice, always do your own research.

joeyowen

People also only sing when they are winning.  You'll hear so much about massive gains, solid gainzzz

People aren't going to be shouting too loudly about their 1k becoming 650

WiresDreamDisasters

People post loss-porn on Reddit all the time.

ArchtopDave

All too often in these situations one man's gain is several others' losses. If you have money spare, that you'd happily tear up and chuck down a drain, then mucking around with these stocks is fair enough. However, it appalls me that there are some, who have taken out substantial loans, in order to invest in Gamestop. This is complete idiocy and more likely to result in a substantial debt headache than a pot of gold.

TimmyO

When the news coverage started I tried to have a read of Wall Street Bets on Reddit but by god I couldn't make head nor tail of it - between the hardcore stocks knowledge and terminology that's common and the 4chanspeak and sheer volume of in jokes I gave up (yes I know how "Boomery' that sounds) 

RandallFlagg

TimmyO said:

When the news coverage started I tried to have a read of Wall Street Bets on Reddit but by god I couldn't make head nor tail of it - between the hardcore stocks knowledge and terminology that's common and the 4chanspeak and sheer volume of in jokes I gave up (yes I know how "Boomery' that sounds) 

Same here, I read a few pages when the GameStop thing first kicked off, them boys are about as far away as you can get from Warren Buffet's investing ethos, Warren Buffet doesn't even have a computer in his office.

chillidoggy

Wow! What a load of rampant capitalists we all are!

RandallFlagg

chillidoggy said:

Wow! What a load of rampant capitalists we all are!

Fuck yeah! I would trample over anyone and anything for profit.

"the burning sky keeps burning bright
And it won't turn off till it's had enough
It's the greedy bastard who won't give up
And you're just a dreamer if you don't realise
And the sooner you do will be the better for you
Then we'll all be happy, and we'll all be wise
And all bow down to the burning sky"

chillidoggy

RandallFlagg said:

chillidoggy said:

Wow! What a load of rampant capitalists we all are!

Fuck yeah! I would trample over anyone and anything for profit.

"the burning sky keeps burning bright
And it won't turn off till it's had enough
It's the greedy bastard who won't give up
And you're just a dreamer if you don't realise
And the sooner you do will be the better for you
Then we'll all be happy, and we'll all be wise
And all bow down to the burning sky"

Jam tomorrow.

monquixote

https://en.wikipedia.org/wiki/Greater_fool_theory

spark240

chillidoggy said:

RandallFlagg said:

chillidoggy said:

Wow! What a load of rampant capitalists we all are!

Fuck yeah! I would trample over anyone and anything for profit.

"the burning sky keeps burning bright
And it won't turn off till it's had enough
It's the greedy bastard who won't give up
And you're just a dreamer if you don't realise
And the sooner you do will be the better for you
Then we'll all be happy, and we'll all be wise
And all bow down to the burning sky"

Jam tomorrow.

Typical Wellar ;-)

joeW

If treated as a bet on the horses with some cash you don’t mind losing, then its all good. But buying a company for more than it’s worth with the expectation that someone will pay more in the future has seldom worked out before. Esp if the recommendations come from existing stock owners. It’s fun to watch tho. Hope you make a few quid and get some more gear. 

WiresDreamDisasters

Not financial advice or anything, but It'd be super amazing if a bunch of neo-apes put some weekend BBQ monies into AMC.