Actual trading platforms haven't restricted access. I can buy through E-Trade (The platform I use almost exclusively for day trading) and I can also buy through Merrill Lynch which my IRA sits. The people stopped out right now are mostly using TD or Robinhood which are kind of shit trading platforms.
I slept through half my math classes and crammed the rest. This is all I see when I’ve read these GameStop discussions: I have a decent amount of savings now and could make a decent amount on the side with it. My brain turns to mush the more into the weeds I get.
It's just gambling. This is like saying, "I could make a decent amount in Vegas with my savings." It might be true. You might lose everything. GME went from ~$300 to ~$450 and is now at $155 in the last 3 hours.
GME isn't quite like gambling. There's a very technical reason why people got into the trade in the first place and what they are trying to do with their positions. The problem is anything after 3 days ago has been momentum behind the original trade and things getting a bit out of control. The overlying idea is behind the original trade is still completely valid and still on point, it's really just a game now of how cheaply you got in and whether you can smartly leg out of positions when things go good.
Exactly. Shorting 140% or so of stock is just asking for trouble, and in this case it got picked up by a couple of early guys on WSB, then it started to unfold, and everyone else noticed, and that was like pouring fuel on the fire. At this point, I'm just playing... buy a few low, sell them when they make money, wait for the inevitable short "scare tactics" as you talked about earlier, then buy that dip a bit. And my losses in AMC so far sit around $60, so I think I'm OK with that. Again, in it for the shits and giggles. It is going to be REALLY interesting to see how RH's play goes for them. You HAVE to think that there will be some legal repercussions at some point down the road.
Back to $310 and I just doubled my money. Hindsight makes me wish I had some balls and bought more at the dip.
This is exactly how to play this stock right now. It's actually a really easy trade to make if you know what you are doing. This is like a day traders wet dream, but only if you have access to see how the trades are going.
I wish I knew how to do any of this. I’m in Kubla’s position too and only barely understand it: I wouldn’t mind jumping in just to double the money (or more) and immediately cashing out.
Every trader in the world: When I win my position was too small, when I lose my position was too big. Traders are never happy.
I'll give you a tip, but please play responsibly. Gamestop is the only play right now because it's actually trading against a technical reason. AMC, BB, NOK, there's a similar thread behind this, but not even close to the same thing. (These stocks have a large short position against them, but nowhere close to what Gamestop was.) If you see Gamestop drop under 200 again, buy up what you are willing to risk. If you want to play even riskier, buy what you are willing to risk around 230-250. GME has to go up a significant amount in the next 1-14 days depending on how much of the short positions remain after today. If you double your money, good for you, but 25-50% returns are just as nice.
You could do a limit-order to buy at a certain price, that’s about as basic as it gets. Don’t play around with options (it’s even possible to get approved for trading options right now). Just stick to regular shares and be mentally prepared to lose every penny. Otherwise, have fun.
I'm by no means an expert... I just lurk on WSB, and have for a couple/few years. I recently opened a trading account with my bank to deal with some work stuff, and I figured why not play around with these stocks. I just bought enough GME outright, to the value I was comfortable losing... then I learned how to make a "sell limit" order, which basically says "when the stock hits X price, sell Y number of them automatically." That's what I did... got small positions, figured out what cash value seemed reasonable and worth cashing out at, and just let it go. Once they sold, then I'd wait for whatever frenzy was happening to die off, and then "buy the dip", and sell on the way up, without trying to figure out what the long term play is, or what it will peak out at... just what was good enough for me. Early on with my $36 shares, I made a few grand... it was awesome... but now the price is higher, so I'm buying fewer shares, and not making as much because I'm not holding as much. I'm also making sure that I'm only playing with cash I can throw away. I'm now only playing with profits and won't go beyond that.
When Ted Cruz, Trump Jr., AOC and Rashida Tlaib are all on the same side of an issue, maybe the Robinhood execs should take a long look in the mirror.
https://twitter.com/joemccann/status/1354859879337320452 HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA. If there was ever a giant fuck you to the 99%, this is it.