long time lurker, i'm thinking of writing a book on the bad advice given here on this sub... something like "how to make the least from the rest of your investment returns". all quotes are virtually verbatim.
For any new folks, let it serve as a guide that if you see someone saying it, you can rest assured knowing that they shouldn't be giving out advice.
"I developed my own trading strategy"
"I'm looking for a developer to implement my strategy"
"I like X because of the 6% dividend yield"
"The price of X has gone down, now is a really good time to buy X as its can't be long before it rallies... or should i buy Y instead"
"I sold after the dip and i'm waiting for a good opportunity to buy in"
"I'm 70% cash at the moment"
"The oil price is low, how can i trade oil... how can i take physical delivery of oil... i read about 'oil cash and carry trade' how do i... yes thanks i read about contango on investopedia, but what is it?"
"I'm looking to take advantage of the situation, where can I buy options" aka "where can i trade a derivative i know basically nothing about, in a mathematically zero-sum game market place where i'm totally out-matched... because well, i saw that prices fell, and its not obvious to me that when prices fall, volatility goes up, and as such premiums charged by option writers go up too, but that doesn't matter because i want to lose some money by buying deep OTM lottery tickets"
"At SAXO / IG you can trade OTC products, warrants, ETPs, CFD options like i do, but i don't really understand enough to not know why they are not options... (but i'm going to recommend it to you anyway)."
"3x leverage means 3x the return... now tell me more about rebalancing tracking error, why should i care... restrike event? i'll forget about that later)"
"You can sign up to trade complex products, its easy, you just skim read the professional investor declaration and hit accept... no i've never read a Fund/ETP/ETN prospectus, why?"
"I attended/teach/sell an online trading course"
"gold is a good hedge, X% of my portfolio is in gold"
"I trade about 2-3 per week"
"Penny stocks"
"AIM stocks"
"My bitcoin investment"
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