+1 to u/Wokism. Use Fidelity to pickup some GameStop (GME) stock. Create a standard cash account, transfer $$$ into it from your bank, and pickup a share or two. Do not convert your account to margin; keep it as a standard cash account.
Full explanation: The price you see on your broker (aka your trading app) is the average price between the bid and the ask. The bid is set by the buyers and the ask is set by the sellers. The market makers (Citadel and others) make their money on the difference.
So if you sell a MARKET order it will fill at the BID price, NOT the price you see in your watchlist. This usually doesn't matter as much if you don't care about the pennies, but when the GME rocket takes off and GME is trading at $25,000,000, who knows what the spread will be. It wouldn't be unrealistic to think the Ask could be $25,000,000 and the Bid as $21,000,000 (or something even much less than that) which would look like the price is trading at $23,000,000. When the hedge funds get margin called, they are placing huge market buy orders which fill on the ask. So why would you sell at the Bid when you know these criminals have to buy on the Ask? Selling using a market order will not hinder the squeeze, but it will eat at some of your potential gains; and I don't know about you but I am sucking these motherfuckers dry.
tldr: If the GME rocket takes off and GME shares are worth millions... the market makers that are mega-shorting GME (i.e. Citadel) will be margin called and they HAVE TO BUY YOUR SHARES FROM YOU. Therefore YOU can sell your GME shares at whatever price you like. However if you use a MARKET SELL, your shares likely will be sold to the hedgefucks at a lower price point that they want, instead of whatever full price you can set with a LIMIT SELL. And with these hedgefucks being market makers, who knowns what all kinds of shenanigans they can pull. I would hate to be holding a GME share when GME is showing a value of $25million per share on my broker app, and then I sell it as a MARKET SELL and I end up actually selling for wayyyyy less than $25million due to shenanigans.
ultra-tdlr: If you use a MARKET SELL, you risk the chance of hedgefuck shenanigans causing your GME shares to be sold at a much much lower price point than what they are actually worth. Use a LIMIT SELL to avoid this and sell at the price YOU WANT.
THANK YOU!! Quick question, when GME rocket takes off and hits whatever number (let’s use 25mil). I log into my fidelity app and see the watch list shows 24,999,999 per share. Should I set my LIMIT SELL to the watch list number or a bit lower?
If the price in your Fidelity app is showing $24,999,999 per share and that is what you want to sell at, then yep punch in a $24,999,999 LIMIT SELL.
At the end of the day, the hedgies HAVE TO buy your shares back, so "theoretically" if enough people are still holding shares and refusing to sell them, the price will continue to rise rapidly. And don't forget, many GME investors will be holding 20% of their shares far beyond that price point. Everyone, including those that could only invest in GME with 1 or 2 shares, gets to eat. And fuck Wall Street/Hedgies/Banks/Feds/DTCC/SEC/etc. for completely destroying the lives of everyday Americans for the last 40+ years.
Disclaimer: This is not financial advice. I merely just like the stock. :)
1.) Chinese.
2.) They use Apex Clearing. Almost all brokers that had issues back when the first mini-squeeze/price jump occurred were under Apex Clearing. And Apex is a clearing house for many brokers yet they don’t have nearly the amount of funds as some of the other self clearing brokers (i.e. Fidelity).
3.) They had issues when the first mini-squeeze/price jump occurred.
+1 to u/Wokism. Use Fidelity to pickup some GameStop (GME) stock. Create a standard cash account, transfer $$$ into it from your bank, and pickup a share or two. Do not convert your account to margin; keep it as a standard cash account.
DO NOT USE ROBINHOOD OR WEBULL.
Hold that GME share until it reaches this price -> https://gmefloor.com/
And sell with a LIMIT order, not a MARKET order.
Walk away with millions and implode the evil satanic system known as Wall Street.
Can you give us a simple Barney-level explanation of why to sell using LIMIT vs MARKET please?
Full explanation: The price you see on your broker (aka your trading app) is the average price between the bid and the ask. The bid is set by the buyers and the ask is set by the sellers. The market makers (Citadel and others) make their money on the difference.
So if you sell a MARKET order it will fill at the BID price, NOT the price you see in your watchlist. This usually doesn't matter as much if you don't care about the pennies, but when the GME rocket takes off and GME is trading at $25,000,000, who knows what the spread will be. It wouldn't be unrealistic to think the Ask could be $25,000,000 and the Bid as $21,000,000 (or something even much less than that) which would look like the price is trading at $23,000,000. When the hedge funds get margin called, they are placing huge market buy orders which fill on the ask. So why would you sell at the Bid when you know these criminals have to buy on the Ask? Selling using a market order will not hinder the squeeze, but it will eat at some of your potential gains; and I don't know about you but I am sucking these motherfuckers dry.
tldr: If the GME rocket takes off and GME shares are worth millions... the market makers that are mega-shorting GME (i.e. Citadel) will be margin called and they HAVE TO BUY YOUR SHARES FROM YOU. Therefore YOU can sell your GME shares at whatever price you like. However if you use a MARKET SELL, your shares likely will be sold to the hedgefucks at a lower price point that they want, instead of whatever full price you can set with a LIMIT SELL. And with these hedgefucks being market makers, who knowns what all kinds of shenanigans they can pull. I would hate to be holding a GME share when GME is showing a value of $25million per share on my broker app, and then I sell it as a MARKET SELL and I end up actually selling for wayyyyy less than $25million due to shenanigans.
ultra-tdlr: If you use a MARKET SELL, you risk the chance of hedgefuck shenanigans causing your GME shares to be sold at a much much lower price point than what they are actually worth. Use a LIMIT SELL to avoid this and sell at the price YOU WANT.
THANK YOU!! Quick question, when GME rocket takes off and hits whatever number (let’s use 25mil). I log into my fidelity app and see the watch list shows 24,999,999 per share. Should I set my LIMIT SELL to the watch list number or a bit lower?
If the price in your Fidelity app is showing $24,999,999 per share and that is what you want to sell at, then yep punch in a $24,999,999 LIMIT SELL.
At the end of the day, the hedgies HAVE TO buy your shares back, so "theoretically" if enough people are still holding shares and refusing to sell them, the price will continue to rise rapidly. And don't forget, many GME investors will be holding 20% of their shares far beyond that price point. Everyone, including those that could only invest in GME with 1 or 2 shares, gets to eat. And fuck Wall Street/Hedgies/Banks/Feds/DTCC/SEC/etc. for completely destroying the lives of everyday Americans for the last 40+ years.
Disclaimer: This is not financial advice. I merely just like the stock. :)
What’s wrong with Webull other then it’s Chinese?
1.) Chinese. 2.) They use Apex Clearing. Almost all brokers that had issues back when the first mini-squeeze/price jump occurred were under Apex Clearing. And Apex is a clearing house for many brokers yet they don’t have nearly the amount of funds as some of the other self clearing brokers (i.e. Fidelity). 3.) They had issues when the first mini-squeeze/price jump occurred.