The system is rigged against the poor, and weighted heavily in favour of the rich. 2/
So what will be the aftermath of this GME event?
These are simply my guesses, I don't actually know.
Wallstreet will likely push for licenses being necessary to trade, or put more limits on how many trades you can make, or some other way to screw the average person trading. 1/
The system is rigged against the poor, and weighted heavily in favour of the rich. 2/
It's possible, but I doubt it.
It would open up new precedents and the optics would be terrible- i.e. shutting down the market because greedy hedgefunds fucked up, and normal people are taking them to the cleaners. 3/
4/
Anything more than that, I'm not sure.
I think the media will push the threat of the government shutting down trading, in order to scare people into selling, to give short sellers a way out. 5/
And these media giants are some of the biggest, richest, most influential men on the planet. So they're gonna try and help their hedgefund pals out. 6/
They're pushing all sorts of bullshit, like these Reddit guys are manipulating the stock illegally (they're not). 7/
Like, really? REALLY?
These foreign governments don't go after banks, or the US treasury? They go after gamestop? THAT'S YOUR ARGUMENT!?! 8/
What do you guys think is gonna happen?
Brokers are allowing people to sell GME, but not allowing them to buy GME.
— Aaron D. (@MrBrownEyes2020) January 28, 2021
This forces the price down, and is literally market manipulation. Which is illegal.#GME #Gamestop #TheGameIsRigged pic.twitter.com/3rMhgPtKnT
More from Trading
1/ Feels like a good time to tell the story of how I went from broke to a millionaire to broke again in 2017/18 again...
Yesterday was brutal for some people...
Losing life-changing money sucks, losing any money sucks...you can chase the market or you can change your strategy.
2/ The original thread is gone but you can read it here.
https://t.co/cLLNs75rB0
tl;dr
- Traded $32k to $1.2m
- Thought I was a genius
- Made poor investments
- Didn't conserve capital
- Peaked at 150 BTC
- Lost nearly all of it
2 weeks from losing my house + no income. Oops.
3/ I am going to assume you are in it for the money rather than the tech. Yeah, you might Tweet about the amazing blockchaining of cross-border payments and oracles yadda yadda...really, you are in it to make money.
If you are really in it for the tech, go and build something.
4/ Okay, so if you want to make money, trading is super hard, you are trading against:
- Better traders than you
- People who can move markets
- Unknown information
And if you are trading with leverage you might blow up your account with the volatility.
5/ If you are not trading, you are investing. Okay, so what are you investing in?
I made the decision that the crypto with the best opportunity of existing in 10 years is #Bitcoin:
- Solves a genuine problem
- The right tech
- A proven track record
Yesterday was brutal for some people...
Losing life-changing money sucks, losing any money sucks...you can chase the market or you can change your strategy.
2/ The original thread is gone but you can read it here.
https://t.co/cLLNs75rB0
tl;dr
- Traded $32k to $1.2m
- Thought I was a genius
- Made poor investments
- Didn't conserve capital
- Peaked at 150 BTC
- Lost nearly all of it
2 weeks from losing my house + no income. Oops.
3/ I am going to assume you are in it for the money rather than the tech. Yeah, you might Tweet about the amazing blockchaining of cross-border payments and oracles yadda yadda...really, you are in it to make money.
If you are really in it for the tech, go and build something.
4/ Okay, so if you want to make money, trading is super hard, you are trading against:
- Better traders than you
- People who can move markets
- Unknown information
And if you are trading with leverage you might blow up your account with the volatility.
5/ If you are not trading, you are investing. Okay, so what are you investing in?
I made the decision that the crypto with the best opportunity of existing in 10 years is #Bitcoin:
- Solves a genuine problem
- The right tech
- A proven track record
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These are going to be very simple yet effective pure price action based scanners, no fancy indicators nothing - hope you liked it.
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One of the classic scanners very you will get strong stocks to Bet on.
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Hourly Breakout
This scanner will give you short term bet breakouts like hourly or 2Hr breakout
Volume shocker
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