scolopax Posted April 30, 2021 Report Share Posted April 30, 2021 Anyone made their fortunes yet? Something I am not personally really interested in, but my colleague who seems to spend most of the shift playing the markets told me last night he has 'earnt' a small fortune since December, kept his cards close to his chest but said it was enough to buy a new house with. And he is not the only one, others in his circles have become very wealthy in just a few months. Quote Link to comment Share on other sites More sharing options...
bigbird Posted April 30, 2021 Report Share Posted April 30, 2021 (edited) Trick is knowing when to sell when trading anything 🤔 Crypto is particularly volatile, for example Hedgies like Citadel are having a big sell off to pay up on shorted shares in meme stocks such as AMC and Gamestop by 19th May due to new Sec rules. Cryptos such as Dogecoin and Bitcoin have been heavily hyped by the likes of Elon Musk. Personally I’m more into Covid recovery plays such as travel etc. I really don’t understand the fundamentals behind Crypto, I’ve tried to read up on it but my brain just tells me it’s boring and shuts down 😂 Edited April 30, 2021 by bigbird Quote Link to comment Share on other sites More sharing options...
henry d Posted April 30, 2021 Report Share Posted April 30, 2021 Going on the amount of emails I get each day we are all going to be millionaires and will never need to work again. Quote Link to comment Share on other sites More sharing options...
bigbird Posted April 30, 2021 Report Share Posted April 30, 2021 I am however currently mining a startup Crypto, ‘Pi’ from my phone. It’s costs nothing and all I have to do is press a button every 24hours, if anything comes of it then great, if not then it’s really no biggie ... Quote Link to comment Share on other sites More sharing options...
Pangolin Posted April 30, 2021 Report Share Posted April 30, 2021 (edited) 1 hour ago, scolopax said: Anyone made their fortunes yet? Something I am not personally really interested in, but my colleague who seems to spend most of the shift playing the markets told me last night he has 'earnt' a small fortune since December, kept his cards close to his chest but said it was enough to buy a new house with. And he is not the only one, others in his circles have become very wealthy in just a few months. I put about £500 into XRP Ripple a while back, had a £3k profit a few weeks ago but they have dropped slightly in value. Not masses of fortune but I'm going to hang onto them. Edited April 30, 2021 by Pangolin Quote Link to comment Share on other sites More sharing options...
WalkedUp Posted April 30, 2021 Report Share Posted April 30, 2021 You extracted £3k profit into sterling? Quote Link to comment Share on other sites More sharing options...
Pangolin Posted April 30, 2021 Report Share Posted April 30, 2021 (edited) 3 minutes ago, WalkedUp said: You extracted £3k profit into sterling? Didnt sell them, that was the profit if I had sold. Thought I'd keep them for the long term. Edited April 30, 2021 by Pangolin Quote Link to comment Share on other sites More sharing options...
WalkedUp Posted April 30, 2021 Report Share Posted April 30, 2021 I would advise you to extract at least your original stake and then play with the profit. Periodically siphoning off excess value past a predetermined base. Eg £1000. So if your account currently shows £3000 I would take out at least the £500 and then every month take out the excess to leave £1000 in the account. You can’t lose then. Quote Link to comment Share on other sites More sharing options...
Pangolin Posted April 30, 2021 Report Share Posted April 30, 2021 Im gonna wait a risk it, see if they rocket in the coming years. Quote Link to comment Share on other sites More sharing options...
bigbird Posted April 30, 2021 Report Share Posted April 30, 2021 Wonder if XRP will have another short squeeze like in Feb - do you know the current short interest on it, Pangolin? Quote Link to comment Share on other sites More sharing options...
Pangolin Posted April 30, 2021 Report Share Posted April 30, 2021 6 minutes ago, bigbird said: Wonder if XRP will have another short squeeze like in Feb - do you know the current short interest on it, Pangolin? No idea, bud. Quote Link to comment Share on other sites More sharing options...
SpringDon Posted April 30, 2021 Report Share Posted April 30, 2021 What broker do you use to buy them from? One of the problems with Bitcoin was disappearing brokers and invalid coins. More small investors lost money due to that than volatility Quote Link to comment Share on other sites More sharing options...
Pangolin Posted April 30, 2021 Report Share Posted April 30, 2021 2 minutes ago, SpringDon said: What broker do you use to buy them from? One of the problems with Bitcoin was disappearing brokers and invalid coins. More small investors lost money due to that than volatility I bought my XRP through Changelly Quote Link to comment Share on other sites More sharing options...
Ultrastu Posted April 30, 2021 Report Share Posted April 30, 2021 If he has made enough money to buy a house .then thats exactly what he should do .turn that made up fairy money into bricks and mortar. That way it can't devalue over night . Quote Link to comment Share on other sites More sharing options...
scolopax Posted April 30, 2021 Author Report Share Posted April 30, 2021 1 hour ago, Ultrastu said: If he has made enough money to buy a house .then thats exactly what he should do .turn that made up fairy money into bricks and mortar. That way it can't devalue over night . thats the exact thing, made up fairy money it is, but some folk are making a serious amount of real cash in the last few months. My colleague is a 'get quick rich' investor, who has had his fingers burnt many times, but now he seems happy and is making a lot of money in the recent crypto resurgence. Quote Link to comment Share on other sites More sharing options...
harkom Posted April 30, 2021 Report Share Posted April 30, 2021 yeah, heard it all before..." I have turned a big profit in ...blah blah..etc."... just try and cash it in. Good luck there then. Quote Link to comment Share on other sites More sharing options...
bigbird Posted April 30, 2021 Report Share Posted April 30, 2021 Not going to lie, I’ve a few cheap shares in AMC Entertainment, hoping for the much publicised short squeeze but it’s undervalued and shorted to hell at the moment anyway as well as being a recovery play so 🤞🤞 (Not financial advice!!) Quote Link to comment Share on other sites More sharing options...
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