Poor people arent allowed to turn their money into more money.
That's for rich people only.
Poor people arent allowed to turn their money into more money.
No, RH stopped allowing trading because the hammer is coming on them for letting people extend themselves beyond their means.
The whole situation is fucked, and it's because it should have been nipped in the bud last week. Artificially spiking the price of a company that has bad fundamentals never could have lasted more than a few days. They shouldn't have allowed the purchases in the first place after it was clear that retail investors with little experience were day trading based on advice from forums and twitter.
Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
RH is actually allowing closing out of existing positions. Just stopping the purchasing side.
Also they are closing out of positions for clients without client approval by saying its due to "unreasonable risk". Not sure if that is due to being margin related account or something else.
People off the street. Day trading is super fucking risky and this thread makes clear that most people don't understand that risk.
My job was protecting retail investors on wall street in my 20s and enforcing those protections as a regulator in my 30s.
I care deeply about retail investors getting in financial trouble with risky investments
Power to the players.
While it's noble to try and presumably help people, I think telling regular folk they shouldn't be able to invest or pump/dump their own money as they see fit a bit off the deep end.People off the street. Day trading is super fucking risky and this thread makes clear that most people don't understand that risk.
My job was protecting retail investors on wall street in my 20s and enforcing those protections as a regulator in my 30s.
I care deeply about retail investors getting in financial trouble with risky investments
We are buying and selling shares with cash - that's the large majority of what these people are doing. By driving down the share price and only allowing one side to continue (the side who is literally benefiting by a falling price) it's screwing over the average person only, and benefiting the billionaires engaged in the shady practices.
Again, should being able to short >100% of the shares and artificially drive down the price in the first place have been allowed in the first place? Why do they get to change the rules when they're the ones who stand to lose?
I've never known anyone to use the word "Commoners" and not followed it up with a intentional hilarious parody of out of touch rich people.Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
Right, as if a bunch of hedge fund assholes didn't literally collapse the economy in 2008. Yeah you're right they're the only experts that should be allowed to trade.Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
Right but you also shouldn't let a retail investors put too much of their net worth into a single stock. It's too risky. These laws exist because of past crashes that wiped out retail investors.
Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
But you are buying shares of one or two companies only based on a stonks meme and promises of risk free profit. Gamestop was always going to crater in price.
Like fuck Robinhood, but fuck them for letting this happen. This is a clear grift by people who started this buying frenzy in the first place who made off like bandits
Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
Got my ally investment account, time to buy the dip 4k into AMC baby
Only the already wealthy should be allowed to trade on Wall Street.
Commoners, get out.
Gamestop is not a stonks meme, at this point if you're investing then you're betting against Melvin for the ridiculously dumb shorting instead of betting for Gamestop the company. The company isn't the point, it's about retail daytraders doing a reverse-2008 against a hedge fund.But you are buying shares of one or two companies only based on a stonks meme and promises of risk free profit. Gamestop was always going to crater in price.
Like fuck Robinhood, but fuck them for letting this happen. This is a clear grift by people who started this buying frenzy in the first place who made off like bandits
Does 2008 not happen in your timeline or what the fuck is this?Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
Wall Street: "People shouldn't be upset with Wall Street, they should invest in stocks to get some of the wealth too"
Also Wall Street: "Commoners, stop trading! You are doing it wrong!"
While that's a noble position to hold and commendable, I think telling regular folk they shouldn't be able to invest or pump/dump their own money as they see fit a bit too far.
Might as well tell 'commoners' they shouldn't be able to go to a casino too.
Condescinding navel-gazing, cool, not sure what that has to do with the bullshit RobinHood is pulling by manipulating the market?Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
I spent $70No, RH stopped allowing trading because the hammer is coming on them for letting people extend themselves beyond their means.
The whole situation is fucked, and it's because it should have been nipped in the bud last week. Artificially spiking the price of a company that has bad fundamentals never could have lasted more than a few days. They shouldn't have allowed the purchases in the first place after it was clear that retail investors with little experience were day trading based on advice from forums and twitter.
All investment is 'too risky'.Right but you also shouldn't let a retail investors put too much of their net worth into a single stock. It's too risky. These laws exist because of past crashes that wiped out retail investors.
If it is not your money, and you are not getting paid for it. Please get off your high horse.People off the street. Day trading is super fucking risky and this thread makes clear that most people don't understand that risk.
My job was protecting retail investors on wall street in my 20s and enforcing those protections as a regulator in my 30s.
I care deeply about retail investors getting in financial trouble with risky investments
Wall Street: "People shouldn't be upset with Wall Street, they should invest in stocks to get some of the wealth too"
Also Wall Street: "Commoners, stop trading! You are doing it wrong!"
How do you feel about casinos, betting games? Buying houses??Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
An 18 page thread on a niche video gaming enthusiast forum is enough for you to declare most people don't understand the risk? Not only is that elitist as hell but that's also enough for you to justify cutting an entire swath of individuals out of an entire umbrella of legal investments?People off the street. Day trading is super fucking risky and this thread makes clear that most people don't understand that risk.
Like how much more obvious does it need to get? The average person is now left scrambling trying to find a place where they can buy a stock they want to buy while institutions weren't inconvenienced at all and are now playing the swings which they are controlling. Just WTF. Burn it all to the ground.
LmaoCommoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
How do you know they don't understand the risk? This is a blanket ban on buying so it doesn't look like they're assessing risk.Now anyone with an app gets them. It's truly absurd how much these tech-bro disruptive trading apps have enabled people to take on risk they don't understand.
Does 2008 not happen in your timeline or what the fuck is this?
Yeah. I can't find GME at all.
How do you know they don't understand the risk? This is a blanket ban on buying so it doesn't look like they're assessing risk.
If at my old job in credit cards, I denied a credit card application because "I don't think they REALLY understand how credit cards work" I'd be fired, possibly arrested depending on who I did it too.
Ya? Good for you.Commoners shouldn't be able to day trade. It's super risky and expensive behaviour.
I'm a former series 4/24/34 with 20 years experience in risk management and can explain a tied stock exemption to trading ahead and can calculate options deltas in my head. I can calculate maker/taker credits into my trades. I'm the kind of person who should be allowed to do this stuff because I understand the risks and fees.
I don't do it precisely because I do understand how risky it is for someone like me without a ton of money in the bank to eat those losses.
Downloading an app should not give you access to the risky shit robinhood allows.
I don't know if you've answered this, but don't you think it's weird that a stock like GME could be shorted as much as it was? Shouldn't THAT have been illegal, not the retail traders on RH and others trying to use that to their advantage?Commoners was a poor choice of words, but I lived through the penny stock scams and saw a lot of people lose their life savings on transactions they didn't understand.
This isn't about being paternalistic. It's preventing people from getting taken to the cleaners by grifters.
I think all these trades should be unwound and everyone should get their money back and RH and those that engaged in this behaviour should be the ones to eat those losses.