I always thought you need balls more for this kind of "trading", than skills. As long as your strategy works for the times AND you have balls to swing it, you are going to make it rain... Irishdud already lost it all back twice, so there is that...
Yea true you need balls but also not just reckless balls. You have to do something where you have some edge and have the balls to go heavy on it but not just whatever. Last earnings GME tanked as well
Hindsight is 100%. These guys all talk about their winnings afterwards. Yes, it took balls to throw hundreds of thousands of $ into the meme stocks, but that's gambling, not trading. The meme stocks went way up and they became way rich. CLOV went from 8 to 28 in a 2-3 days and back down to 14 a day later. Whenever you bought or sold on that time-line says nothing about trading skills.
When should they talk about it, before they make it big? By the way they do, that is what the thread is about, making it to 10 MM. Boy, you just can't satisfy everyone.... And yes they post their positions right after they make them, so instead of whinning, you could just join them for the ride... I would rather be a winning gambler than a losing trader, that is what I am saying. "About 250k after taxes on the gme and about 500k on the spy calls( yes I literally put all of the gme money into spy calls) now I'm in the FAGMAN plus nvda and amd stonks qqq and spy with 20% cash. Boomer city"
The whole WSB is about Wall Street Bets, which by default means gambling, not trading, so why complain about trading when they’re not trading. WSB got overcrowded so some people organize in other forums. Gamblers do organize contests and can have friendly competitions. It’s fun to watch for some, but if no interest to you then no reason to complain that something that is not trading is indeed not trading. Personally I want to see some action and excitement in the form of gambling using stocks. Some people can do this better than others, just like some people can play poker better than others, so possibly it could even qualify as professional gambling.
I don't disagree as I also gamble these stocks. It's more roulette than poker, and i wouldn't be surprised if we learn months from now that some winners are arrested for Section 9(a)(2) or other violations, especially the recurring winners...
SEC looks at thousands of people who don’t lose on trading due to actually having tremendous illegal edges. If they pursued people who lose they’d not only embarras themselves and be accused of wasting time, but also would lose the cases and make it more difficult to later pursue actual cheaters and manipulators.