Reddit’s profane, greedy traders are shaking up the stock market

Re:Reddit’s profane, greedy traders are shaking up the stock... by sjc33 on Wednesday February 26, 2020 @08:44PM (#22429563)

I wish people talked more about how Robinhood really enabled this sort of reckless speculation.

Day trading on your smartphone was not really a "thing" pre-Robinhood, and then they came along with commission free trades on both stocks and options.

So not only did they make it easier to day trade given no explicit fees for doing so, they also mainstreamed options trading, which is actually what most people in WSB do almost exclusively, and really the only way you can 10x-100x your money in a few months (or in less time).

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Re:Reddit’s profane, greedy traders are shaking up the stock... by conanbatt on Thursday February 27, 2020 @02:57AM (#22431506)

The Gain/Loss posts on that sub are surreal. There's a guy that made 500k with 12k in two weeks with a series of daily bets that is off the charts.

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Re:Reddit’s profane, greedy traders are shaking up the stock... by jayrot on Thursday February 27, 2020 @03:37PM (#22437509)

The depressing reality of these is that they're no different from lottery winners in that's they basically got lucky, with the added, pernicious factor, that they probably convince themselves that there was some type of skill or finesse which means they will likely keep trying.

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Re:Reddit’s profane, greedy traders are shaking up the stock... by conanbatt on Thursday February 27, 2020 @09:47PM (#22440102)

Way better odds than the lottery!

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