Reply With QuoteMy head hurts from reading this diarrhoea. I am sitting on a loss of my own making, there's gotta be somebody I can sue. Laughable.
Read the T&C's?
I had a sell order at $3 on ii, was sweating a bit due to the II delay when the price started to fall. ii isn't the best but its where my SIPP is which its ok for, gave my pot a boost after all the Vanguard red. Ive opened an IG account and I'm closing my Trading 212 play account. Fundraiser donation made, cheers Raffe!Originally Posted by mr noble
My head hurts from reading this diarrhoea. I am sitting on a loss of my own making, there's gotta be somebody I can sue. Laughable.
Read the T&C's?
Someone who lies about the little things will lie about the big things too.
This is written on the HL page when I try to sell or buy NOK.
"This stock is in and out of market auction. Whilst in auction it is not possible to trade online. You can leave a fill/kill instruction, which we will attempt to process as soon as the stock is available."
Any ideas what that means?
As Ryan was saying, I can only do a stupid fill or kill order and then you get whatever the price is at the time the care to trade it for you.
HL really is NOT geared for trading. But we already knew that.
Hang on Raffe. A few months back you had a loss on Oil prices because of a trader error. Thankfully you got it sorted. In this instance HL is preventing stock sales. That to me is a platform error that is compounding losses. How is this different?
No circuit breakers for the guys on Reddit then??
GME "did a Bart" as they say in crypto. Who would have guessed it?
The crash was just as manipulated as the ride up. It is what it is but it does highlight the unsavoury nature of parts of the Financial Services industry and how rigged the system appears to be in the US at least.
C'est la vie. I'm glad I didn't have my life savings in it like a bunch of the kids on Reddit who will no doubt have a 'toaster bath' this evening.
Don't think it's any different to what I saw in crypto in Jan 18. When it goes freefall, the exchanges stopped trades. I must admit, if I'd have seen Raffe's tip a couple of days ago, I would have had a small punt but by the time I paid attention, I knew it was too late and the risk/reward game of chicken was not worth it.
That reddit forum consisted of a hell of a lot of people in at the bottom, egging the price up trying to get more people into the pyramid before it collapsed.
Yep a lot of hate for the 'Boomer shorties' on there at present lol!
Global force!!
Last edited by Daveya.; 28th January 2021 at 18:29.
Thing is the 'Boomer Shorties' are the ones buying the cheap stonks now to negate their positions. It could push on again crazily but who knows. Madness!
Global force!!
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I will also be making a donation, when I am able to spend money from my account. Im on the cusp of a mortgage application and pretending to be a hermit and good with money
Been a mad mad day! Holding the line on my AMC stock (obviously!)
^You guys might want to edit out the swearies at the bottom of that screenshot otherwise the ban hammer may come knocking...
Class action filed in NY
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Does profanity in images matter? I always thought it was any text profanity as the website is indexed on Google.
Not sure to be honest. Maybe this can be the test!
Have any of you watched Inside Job (https://trakt.tv/movies/inside-job-2010), if not you should. It shows how powerful these financial titans are.
See how the people who created the financial crisis in 2008 still have lucrative jobs working at the SEC, in the Government and at University think tanks.
Be amazed at how one person at the regulator saw the financial crisis coming and wanted to regulate against the looming crash but was sacked and then a law was passed preventing any regulation !!
Not only is it educational but it is actually an entertaining docu-film
It wasn't because of a trader error but it was a software bug in a professional trading software.
On the other hand, you are the clown who is trying to trade fast moving stocks on a HL account which only allows a 'kill or fill' oder type, which is clearly asking for trouble. And then, my head is still spinning from trying to fiollow your changing mind.
Yesterday, 13:14h:
14 minutes later:
then:
So it was Robinhood limiting the WSB trading frenzy which ended up being the reason that you lost? If you can only ride the wave as long as a million other fanbois are pushing, that's not trading, it's idiocy.
Let me tell you something. Gamestop is a stock which might be worth $5 on a good day. The 'bois' have proven that they can squeeze, and you have been mocking them for most of the time, only to jump on the train after the stock had run up some 800% or so.
There is a name for those who are jumping into a crowded trade when everybody else is closing their positions: BAGHOLDER.
You are welcome.
I learnt about being a bagholder in 2018 when the crypto bubble burst. Luckily I'm not a gambler and only lost about £300. I learnt from that if there's already a frenzy, you are better just to sit and watch.
The point is Raffe that HL only allowed kill or fill today. Never before during market hours. Why is the big question.
Previously I bought all the stock normally in real time. So I'd say they cost me the money. Yes I know it was a risky trade hence the large profit on a much smaller investment. The fact that I wasnt able to avail of this profit was because HL prevented me from trading out which is absolutely not what the platform usually does so I'd say that needs to be sorted.
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You are trying to play a game that you don't understand with a tool which isn't fit for purpose.
This was never going to have any other result than a big loss, and there is zero chance you will be able to blame your loss on HL or anyone else.
Someone who lies about the little things will lie about the big things too.
Price is holding up, you must still be in profit?
It was nearly $500 earlier, now half that. Anyway it's fine, risky trades carry a higher probability of loss but what grates is that this appears to be a co-ordinated manipulation by 'the system'. Let's see once the dust has settled. It is what it is.
Oh look, now HL allows real time trading on AMC and GME again! Now the Shorties have bought cheap stock to hedge their positions. Stinky Mc Stinkerson!
I know I won't benefit and it is fine it is just a blip for my portfolio. I didn't bet the farm. But hopefully this leads to better regulation both in terms of what drives prices up but also allowing platforms to be manipulated into blocking purchases. Totally rigged. We do have the US administration in place to potentially do this.
you are kidding yourself if you think you understand markets.
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You bought in at the top?
Well HL actually helped me with their crazy lag, I placed a fill for £1k @300 and after almost 3 hours I got £870 @240. Not quite sure how that worked but has left me at the current limbo point. Plan to hold till 10-11 tonight when the Americans will hopefully come on and boost it up before close
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Never said I did. I've been fairly upfront about that throughout this thread. However something is wrong when retail investors are prevented from trading whilst Hedge Funds can carry on as normal.
Regardless this can of worms has been opened and now Ocasia-Cortez has got her talons into it there may be some changes. Probably not, and I can't complain too much as my funds have done well no doubt due to the same corrupt system so no point biting the hand that feeds - I was only ever along for the ride!
- - - Updated - - -
No.
Current price places me at a 10% loss.
Last edited by ryanb741; 28th January 2021 at 20:07.
Do you think anyone cares if a marginal account at a marginal broker can trade or not?
You can try and kid yourself into a conspiracy theory on this all day long but the fact of the matter is you have nobody to blame but your own incompetency.
Someone who lies about the little things will lie about the big things too.
Co-ordinated manipulation of 'the system' seems more descriptive of the WSB crowd deliberately conspiring to "get rich quick" and teach a lesson to the big guys. Behind a lot of those 'big guys' are retirees and hard-working people saving for their retirement. Some of them are being decimated like they were in 2008-2010, and for what...fun, games, and greed on the part of some millennials and high-risk investors. This conspiracy is certainly just a thinly-veiled Ponzi Scheme that will (must!) end very badly for those caught in web, and holding high-priced shares that are actually worth almost nil.
This is not another "Robin Hood" story where the wealth is taken from the rich and distributed to the poor. Make no mistake - these conspirators are not the struggling farmers and unemployed. They are savvy individual investors trying to 'game' the system and add to their own wealth, while many of the big losers will not be the WS fat cats, but the average working or retired Englishman (and American), unaware that his retirement savings have been fleeced by vindictive gamers. This game only works through the success of a conspiracy born of unethical intent.
That's MY take...what's yours?
Someone who lies about the little things will lie about the big things too.
I think it is an HL policy that when volumes are huge and they are overwhelmed, they have to switch to F/K only as the system can't cope with thousands of people getting quotes to buy/sell all at once.
I found the same today with NOK on HL. At some times it seemed ok, and at others it was either totally locked out or F/K only. And that was only on NOK for me. I tested another regular share I own and it was fine.
Their T&Cs do say that they only offer the full services on LSE traded stocks. They aren't much good at USA or other countries listed stocks. They are not a trading platform.
I feel your pain Ryan, I really do, but I don't think it's some huge conspiracy to shaft you and make the HFs stronger. You and I are His target customer so the last thing they'd want to do is pi$$ us off!
In other news, I have just exited my NOK position after 24 hours of watching the candle graph. I certainly couldn't do it as a day job, but it's been fun.
I was a bag holder to a certain extent, ended up bailing out with a 30% loss, but the amount I'm down is almost exactly the same as the amount I'm up form a dabble with Argo Blockchain last week.
Still in my NAKD position. The fundraiser will be benefiting from that one, thanks to Raffe!
I think I was fairly up front that it was a manipulated attempt to pump the stock and also a manipulated event to deflate it. Same thing happened with NAKD last night and everyone was high-fiving each other about their gains so the concern for retirees didn't seem so acute then!
I also stated that this 'conspiracy' has worked well for me with regards to my funds so no point biting the hand that feeds. It is what it is - I see the DJIA pumped meaning Asia and Europe will pump tmw and a nice uplift to the portfolio at end of week.
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Rule No. 1 when trying to ride a big wave: get in at the beginning, not at the end. That will take care of 90% of the outcome.
You were jumping on the trade after the stock has had a whole week of double/triple digit gains. That was plain stupid, don't try to blame anyone else but yourself.
This is gambling not investing and fingers will get burnt. Not something I would get into; not enough info for me.
Basically Eddie Murphy film Trading Places :)
Frozen orange juice FTW
£390 for the forum fundraiser. Result, I would say.
That's great
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That pretty much summed up my take on it. Plus, I don’t think it is outlandish to believe a core of the WSB are colluding in private like ringleaders to encourage the crowd for their own gain.
This is just the crypto massive from 2017 on another get rich quick scheme. And manipulation/shilling was a big part of the pump and dump era of 2017. They don’t really care whether they are fighting a hedge fund or taking money from the idiots that pile in late. This is about cold hard cash and once GME is over, that core will pick another stock just like the crypto ICOs in 2017.
Last edited by Christian; 28th January 2021 at 21:35.
Alternative view, when does the Reddit and other such forums become market manipulation?
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Could get messy
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Finished the day a few hundred £ up on SSLN.
Fortunate timing rather than anything else as I was intending to add this within my SIPP anyway.
Long may it continue.
Why do you never reply to me, -Ally-?
Just when you thought it was all over
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Some chat going on in the subreddits about 'taking revenge' on Wall Street by pumping Oil Prices. Seems more like vigilante behaviour as opposed to simply investing.
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