Cheers guys. I'll keep an eye on it. Ideally I'd just want to get in and out quickly assuming it spikes again. But some people are going crazy over it. Definitely can't talk about it on wallstreetbets. Some are down thousands but don't seem to care. Some seem to realise they'll lose money but are invested in the novelty of it. I just want to make a quick profit.
You, me and everyone else too mate
An yeah wallstreetbets is just a joke now, full of trolls and embarrassing posts. Unfortunately the train left the station about 2 weeks ago on this or more.
If you want volatile prices then there is still loads to be had all over different stocks and on crypto (I would advise strongly against it!) literally every week but it is a casino, full stop, you will have better odds literally if you go stick your money on red or black in a casino. Much better to wait for dips and stay in long.
For anyone still interested in all of this I really suggest going onto
https://www.reddit.com/r/stocks/?f=flair_name%3A%22Discussion%22 there are a lot of sobering articles, tons of useful information and is a world away from wallstreetbets.
One really good post for people unsure of what to do with all this craze I have left below. Basically stop thinking you are missing out, you are not.
"
A Must-Read for New Traders/Investors - BlackBerry, AMC, and othersI feel compelled to write this post because I am seeing it first hand right now. People everywhere are asking whether GameStop or AMC or Blackberry or even Silver are good buys. Why? Because they are ALL in the news, embedded in culture at this very moment. They are being texted and shared with friends and discussed across the Internet. I want to write about this to shed light on a really interesting concept in markets related to this and I hope it helps someone.
First of all, there's an old trader rule that says "if a stock makes the news, you're late." What that means is someone who was more prepared, who had built a long-term plan, was involved before the news became a thing. Before you knew what it was. It's important to remember that people do this for a living - studying companies, writing about them, reading about them, and building a position over time before the news cycle begins. You need to know this to make better decisions. Otherwise you will chase news headlines and continue to be "late." Now of course, some people do chase headlines for a living, buying on big news announcements, but just remember that someone out there was there long before it happened. The awareness of this will really change your perspective on markets.
The next topic I want to shed some light on is the broad market and all of the ideas available to you if you just look around. I see WAY TOO many people talking about AMC and Blackberry and others. There are 3000+ other stocks in the market. That's right... 3000. Add in crypto and that's easily another 1000+ crypto projects. Add in forex and futures and that's easily another 500+ futures and forex trades. The point I am trying to make is - REALLY? You're going to buy AMC or Blackberry just because you saw a headline? There are 5000+ other trades and ideas out there. Take your time. Be patient. Don't chase. Look at the entire market. It's wide open to you.
The final point of this post is the idea that the market is not going anywhere. Avoid FOMO (Fear of Missing Out) at all costs. My good friend tells me to embrace JOMO (Joy of Missing Out). The point here, and concluding paragraph, is that the market has been open for 100+ years. It is not going anywhere. No one is telling you to buy or sell. You are talking to yourself and spiraling into a whirlwind of FOMO. You have to take ownership of your portfolio. There is no manipulation or scam going on other than your decision making. The same way you research a car or TV, hours of research, reading reviews, studying your budget, is the same way you should approach markets. There is no rush to do anything. You won't "miss the move." As I said, the market has been open 100+ years. Relax. JOMO is a great strategy in certain times.
I hope this post helps and I wrote it because you all mean a lot to me. I have been online talking markets since 2010. I am thankful to the Internet, Reddit, and even Twitter because of the doors they've opened in my life. Especially around markets. So I really write this post to help someone, anyone, who is new or confused about the markets. I also want to say that I write this having done all the above. No joke. I have done ALL of the above and been hosed so many times. So I hope this helps.
Thanks for reading and good luck!"
