Redditors gave Wall Street traders an absolute pasting

[ReidysLeftLug]

Yeah I’m not disputing that. My thoughts were that the majority of money came in pre-mainstream hence it reaching the point it did to make the news. These were people who’d bought in consistently over a long period of time.

Just wasn’t sure if I’d missed something that you’d seen


This entire situation shows people are happy to lose money

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[monkeytassle]

I don't begrudge people taking money and I don't really have sympathy for those who lost money. This was an anomaly and shouldn't be used as a deterrent, a lesson yes but not a deterrent and I feel like that's what institutions want to do - which is where this whole sympathy angle comes from imo. Why the sympathy for the small guy now when they've been getting robbed for decades? Technology just made it more efficient, high frequency traders and payment for order flow is daylight robbery

How is payment for order flow daylight robbery?

 

[Deleted member 26533]

That wasn't personally aimed at you but more broadly. That's where I feel this sympathy angle is coming from. Obviously people were going to lose money, people lose money every day and some of the practices employed at the top which cause those people to lose money are worse than the gamestop saga imo.

Not sure what's pissing you off to roll your eyes tbh . We've gone round in circles for pages me explaining why I feel a bit sorry for people losing money. You keep mentioning other ways people lose and make money which aren't mutually exclusive with me feeling a bit sorry for people getting sucked in to this and losing money.

 

[monkeytassle]

Fwiw I feel sorry for your average Joe that got suckered in paying 400 dollars because some group of idiots in reddit jacked the stock.

 

[ReidysLeftLug]

Not sure what's pissing you off to roll your eyes tbh . We've gone round in circles for pages me explaining why I feel a bit sorry for people losing money. You keep mentioning other ways people lose and make money which aren't mutually exclusive with me feeling a bit sorry for people getting sucked in to this and losing money.

Pissed off because I rolled my eyes? It was more a "really, why you getting your back up" than anything else

It's called discussion... I wouldn't say it's an argument but if you don't want to discuss it any more that's fine

 

[Deleted member 26533]

Pissed off because I rolled my eyes? It was more a "really, why you getting your back up" than anything else

It's called discussion... I wouldn't say it's an argument but if you don't want to discuss it any more that's fine

I wasn't getting my back up at anything, that's why I was baffled and assumed you must be s bit pissed off with me suggesting people establish an area of competence or something.

I didn't say it was an argument, but it's been three pages of not really discussing anything other than why I feel a bit of sympathy towards people who lost money. It's not really that interesting

Fwiw I feel sorry for your average Joe that got suckered in paying 400 dollars because some group of idiots in reddit jacked the stock.

But would you feel sorry for somebody who stuck on an accumulator and lost mate? Do you feel sorry for people who don't win the lottery?

 

[ReidysLeftLug]

How is payment for order flow daylight robbery?

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I wasn't getting my back up at anything, that's why I was baffled and assumed you must be s bit pissed off with me suggesting people establish an area of competence or something.

I didn't say it was an argument, but it's been three pages of not really discussing anything other than why I feel a bit of sympathy towards people who lost money. It's not really that interesting


But would you feel sorry for somebody who stuck on an accumulator and lost mate? Do you feel sorry for people who don't win the lottery?

Why would I get pissed off with you "suggesting people establish an area of competence or something"? I was baffled at your "Sympathy 'angle' due to institutions? Not at all." Which is why I rolled my eyes, I assumed you were getting your back up. I wasn't saying you were sympathetic because of institutions.

It's discussion nonetheless. If you don't want to continue then change the subject?

Well it was gambling so to say you don't feel sorry for those who play with the horses and lotto tickets but do about those gambling in the markets is hypocritical imo. No different to those scouring for horse tips. I wanted to post something earlier in this thread to someone who was asking about buying, it went along the lines of if you're asking when to buy you'll be asking when to sell. The moral of the story in this is don't play with fire, you'll get burnt. I'll save my sympathy for a more worthy cause

 

[monkeytassle]

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Have you considered something called liquidity? You can't buy or sell an umlimted amount of stock or security etc. Payment for order flow revolves around the fact that the buyer/seller pays for liquidity. Just because the offer is 101 dollars for example doesn't mean you can buy as many as you like there. If the offer is 100.5 in half the size, the seller can say I offer you 101 in all of your size and the buyer pays a small premium for liquidity.

 

[Deleted member 26533]

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Why would I get pissed off with you "suggesting people establish an area of competence or something"? I was baffled at your "Sympathy 'angle' due to institutions? Not at all." Which is why I rolled my eyes, I assumed you were getting your back up. I wasn't saying you were sympathetic because of institutions.

It's discussion nonetheless. If you don't want to continue then change the subject?

Well it was gambling so to say you don't feel sorry for those who play with the horses and lotto tickets but do about those gambling in the markets is hypocritical imo. No different to those scouring for horse tips. I wanted to post something earlier in this thread to someone who was asking about buying, it went along the lines of if you're asking when to buy you'll be asking when to sell. The moral of the story in this is don't play with fire, you'll get burnt. I'll save my sympathy for a more worthy cause

The odds are layed out on a betting slip as clear as day. I've given my opinion on this already.

 

[ReidysLeftLug]

The odds are layed out on a betting slip as clear as day. I've given my opinion on this already.

We're not talking about the odds here, we're referring to people's reliance on others to make decisions. We are talking about adults, if they're vulnerable then fair enough but that's a different story entirely.

Have you considered something called liquidity? You can't buy or sell an umlimted amount of stock or security etc. Payment for order flow revolves around the fact that the buyer/seller pays for liquidity. Just because the offer is 101 dollars for example doesn't mean you can buy as many as you like there. If the offer is 100.5 in half the size, the seller can say I offer you 101 in all of your size and the buyer pays a small premium for liquidity.

That isn't the point and you know it

Where does the data go MT? Do investment banks use it for example or just hedge funds?

 

[beverly macca]

I can’t feel sorry for anyone driven by greed. Fuck the lot of them. Because when it comes off they find great delight in telling you over and over that you should have been “in on it”

 

[Deleted member 26533]

We're not talking about the odds here, we're referring to people's reliance on others to make decisions. We are talking about adults, if they're vulnerable then fair enough but that's a different story entirely.

You may not be, but I am as I think it's an important part in distinguishing the different concepts. You say it's hypocritical that I don't feel sympathy for somebody willingly knowing they're taking a punt at certain odds on very simple concepts like a horse running a certain distance or balls coming out of a pool, versus somebody falling for the hype of the fastly moving GME stuff towards the end. I don't think it is, I think they're two very different scenarios and I've outlined why I think so a few times tbh. You might disagree and it's fine. I've given more time to this discussion than I have to any feeling of sympathy I had towards the people who got sucked in and lost money though . I hope they learn a lesson from it and make wiser choices with their money going forward.

 

[monkeytassle]

We're not talking about the odds here, we're referring to people's reliance on others to make decisions. We are talking about adults, if they're vulnerable then fair enough but that's a different story entirely.


That isn't the point and you know it

Where does the data go MT? Do investment banks use it for example or just hedge funds?

Of course it's the point. It happens every day all day. There is a price and there is a size and there is a price with the size.

What data? Tick data?

 

[ReidysLeftLug]

You may not be, but I am as I think it's an important part in distinguishing the different concepts. You say it's hypocritical that I don't feel sympathy for somebody willingly knowing they're taking a punt at certain odds on very simple concepts like a horse running a certain distance or balls coming out of a pool, versus somebody falling for the hype of the fastly moving GME stuff towards the end. I don't think it is, I think they're two very different scenarios and I've outlined why I think so a few times tbh. You might disagree and it's fine. I've given more time to this discussion than I have to any feeling of sympathy I had towards the people who got sucked in and lost money though . I hope they learn a lesson from it and make wiser choices with their money going forward.

That says it all for me

 

[Deleted member 26533]

That says it all for me

Finally mate, you've got it

 

[ReidysLeftLug]

Of course it's the point. It happens every day all day. There is a price and there is a size and there is a price with the size.

What data? Tick data?

I'm sure we've done this before but back then you were questioning who was selling the data.

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Finally mate, you've got it

I'm flattered that you've given more time to this discussion than you do those who got sucked in and lost money, it's killed some time for me at least cheers

 

[Deleted member 26533]

I'm flattered that you've given more time to this discussion than you do those who got sucked in and lost money, it's killed some time for me at least cheers

No worries mate

 

[monkeytassle]

I'm sure we've done this before but back then you were questioning who was selling the data.

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I'm flattered that you've given more time to this discussion than you do those who got sucked in and lost money, it's killed some time for me at least cheers

So, trading firms are taking retail orders from Robinhood. But they’re not doing anything illegal. They’re simply doing what they’re supposed to do: providing liquidity and making markets.

*from the article

If anything trades on exchange its public. It might be delayed but its public.

I'm sensing you don't really understand what happens in markets (which is fine, my mother thinks I broke stock) but don't post inflammatory nonsense.

 

[ReidysLeftLug]

No worries mate

So, trading firms are taking retail orders from Robinhood. But they’re not doing anything illegal. They’re simply doing what they’re supposed to do: providing liquidity and making markets.

*from the article

If anything trades on exchange its public. It might be delayed but its public.

I'm sensing you don't really understand what happens in markets (which is fine, my mother thinks I broke stock) but don't post inflammatory nonsense.

Here we go, I'm thinking earlier in the thread when people were calling you out they weren't wrong. Yes you work at an investment bank, yes you understand economics, but you aren't allowed to hold a trading account and 90% of your time is spent monitoring algorithms. I'm not saying you don't know your stuff but you seem to get rather defensive then passive aggressive when people discuss this industry.

I don't know everything but I do know some things and I knew enough to read the markets last year and capitalise on the sell off and subsequent rally. I was aiming for 18500 and hit that target, must be doing something right despite all the shit I may spew and lack of understanding I have?

 

[Deleted member 26533]

Here we go, I'm thinking earlier in the thread when people were calling you out they weren't wrong. Yes you work at an investment bank, yes you understand economics, but you aren't allowed to hold a trading account and 90% of your time is spent monitoring algorithms. I'm not saying you don't know your stuff but you seem to get rather defensive then passive aggressive when people discuss this industry.

I don't know everything but I do know some things and I knew enough to read the markets last year and capitalise on the sell off and subsequent rally. I was aiming for 18500 and hit that target, must be doing something right despite all the shit I may spew and lack of understanding I have?

The next few years will be the real test of who's got a good portfolio mind. This year has been a massive bull market, been very favourable conditions for anyone who's competent

Good returns mind, congrats