WALLSTREETBETS: THE "APES" FORUM THAT CHANGED EVERYTHING
The r/wallstreetbets forum, also known as WallStreetBets or WSB, is a sub-forum of the social network Reddit that deals with investments non-traditional. Anyone who is not familiar with the world of finance imagines that professionals in this field wear expensive suits, drive Ferraris and Lamborghinis, and, above all, make fortunes. 'The Wolf of Wall Street' changed that image a bit, showing that not everyone is dull, grey, in other words, a caricature of the Monopoly millionaire. The WSB forum is a mixture of all this, added to memes, jokes and others, although its actions impact the actual prices of financial assets.
WSB is known for its aggressive trading strategies, focusing on trading highly speculative (and risky) stocks and options (a type of financial derivative). The members of this subreddit are predominantly young amateur investors, without a particular notion of investment practices, who started in the world of investments from the facilities and simplifications provided by new investment platforms. In other words, the users' way of investing is similar to gambling. Many of them even use loans (like their student loans in the United States) betting on specific "meme stocks" popular within the forum.
WSB is known for its secular and youthful nature, and members often refer to themselves as "apes", "retards," and "degenerates." Users also use their jargon to talk about investments, which we will detail in the following paragraphs. However, the forum has become notable for its sinful nature, aggressive business strategies, and its role in the situation with GameStop's Stock that caused losses on short positions in US mutual funds that exceeded $ 70 billion in a few days in early 2021.
Stocks Where WSB Influenced
GME: GME is the stock symbol for GameStop (A local video game company in the United States). Recently, users of wallstreetbets have turned their attention to Game Stop (GME), which has caused stocks to skyrocket to all-time highs. However, the history of the shares of wallstreetbets GME is still being written.
AMC: AMC Entertainment Holding, a network of cinemas.
Palantir: American private software and services company specialized in big data analysis.
Tesla: You don't need to introduce Elon Musk's company, or yes.
Corsair Gaming: An American company of computer hardware and peripherals.
AMD: Advanced Micro Devices is an American semiconductor company that develops computer processors and technology products.
BlackBerry: The old cell phone company.
And there are several more. However, the previous list has the highest number of comments, memes, posts, etc.
The WSB Dictionary
Bullish: This means that the price is expected to rise. Someone who is always bullish is typically part of the "Bull Gang".
Bearish: On the contrary, if you are Bearish, the price is expected to go down. Someone who is always a Bearish is part of the "Bear Gang".
Bagholder: A "Bagholder" (In Plain English: 'He who carries the backpack', heavy, in this case) is a person who has a share in a stock whose value has decreased considerably. A Bagholder typically holds onto these stocks or options in the hope that they will rebound. Unfortunately, this often results in sustained losses. - "When a smart guy sells his plummeting shares to an idiot, that person is considered a "Bagholder". Comment: Don't become a Bagholder.
BTFD: BTFD means "Buy The Fucking Dip". It is used as a call to action when a stock's price has fallen but can recover from its current fall.
FD (Faggots Delight): "FD" implies investing a large sum of money in options that will expire in a short period. Oh right, a trade is considered an "FD" if the bet is crazy.
$BECKY: The "BECKY ETF" or "BECKY Portfolio" is a series of stocks that correlate with goods and services loved by white American college girls, including Esty, Lululemon Athletica, Ulta Beauty and Starbucks.
Diamond Hands: A trader has "diamond hands" when they are prepared to hold the stock for a long time. These characters believe so much in the future success of their asset that they will hang on to them until impressive profits are achieved. Spoiler alert: Many times, they will lose everything.
Paper Hands: Paper Hands is when a trader sells his shares too early before he can reach maximum profits. Paper hands and "weak hands" mean the same thing on wallstreetbets.
DD: Also known as doubling down, DD means throwing all your money on the table when trading a stock or option(As if it were the 'All in' in poker). It means that (the trader believes that) the stock is promising and shows bright potential upside.
GUH: The throaty sound of a soul leaving someone's body. GUH is associated with a significant loss of money and is used as an exclamation point. The origins of this meme/term come from a Redditor called u/ControlTheNarrative, who made that sound after losing $ 45,000 in 2 minutes right when the market opened. This moment was captured by his camera and filmed by himself. You can search for it on YouTube. It is pretty funny and terrible at the same time.
Positions or Ban: Position or Ban is used on Wallstreetbets when users post a screenshot of their Robinhood showing a profit or loss. The community is interested in seeing the trades that show the profits or losses. If you cannot provide a screenshot of your investments, the community will ask that you be banned.
Pump and Dump: This is when a stock's price is being pumped (usually with no accurate financial data to back it up). The prices of these stocks rise drastically and are then liquidated for profit (Dump).
Reddit Stock Market Bets: "Reddit Stock Market Bets" is a term commonly searched for by people who do not remember the name of the "Wallstreetbets" subreddit. This search is most often used by parents, loved ones, or friends of people who constantly rant and complain about wallstreetbets.
Rocket Ships, Andromeda and To The Moon: Wallstreetbets users use these terms to express their belief that the value of the listed shares will have a dramatic gain in price.
WSB: WSB is an acronym for r/Wallstreetbets. You may not see this usage on the subreddit very often; it's just an easier way to navigate to wallstreetbets without fully spelling it out.
Stonks: "Stonks" are shares of a company. Although, the term is misspelt on purpose. It is understood as a form of irony and humour. Stonks are most often used when commenting on the financial loss of investments. The word "Stonks" actually originates from the 'Stonks' Meme. This meme is a bald cartoon character dressed in a business suit with his arms crossed, with a blank stare: He looks like he just suffered a huge financial loss. This character is known as "The Stonks Meme Guy" or "The Stonks Meme Man".
Robinhood: Robinhood is a US Trading application (Only available to US residents) commonly used by forum users. This application has had technical problems, which forum members have exploited in the past. The most famous example is the "robinhood free money cheat code", also known as the "robinhood infinite money bug". This flaw allowed users to take advantage of essentially an infinite amount of money in stocks and options even though they did not have the backup funds in their account.
YOLO: Means "you only live once". YOLO is used on wallstreetbets when someone risks all of their money on a single stock or option. The trader wants to become a millionaire with a single trade, something that rarely happens.
How to Trade Wallstreetbets Meme Shares
If you are insane enough to want to trade like wallstreetbets users, here is a list of steps to do so:
Sign up for WSB.
Open a trading account at an online broker. If you are in the US, use robinhood.com, which wallstreetbets traders most use. This platform does not open accounts in foreign countries. If you are from outside of the US, use either eToro or AvaTrade.com (depending on where you are from).
Start trading like an ape.
The odds of making money investing this way are 1%, and the odds of losing everything are 99%: Be careful.
Many of the financial instruments discussed at WSB are complex and not recommended for retail clients.
At WSB, you will find screenshots with +1000% earnings. Remember that this can be: 1) a lie or 2) sheer luck. Most likely, if you trade in this way, you will lose all the money invested.
However, from asinko.com, we know that if you want to trade in this way, even if it is not recommended, our comments won't stop you. So if you do, good luck.