Subject: Wall Street and regular retail investors facing a new paradigm of market Pump&Dump schemes on their playground for the first time.
Disclaimer: This Article and any Attachments to this article (if any), are not a Financial Advice and should be treated with decent criticism and a common sense. The Author of this Article is not a Qualified Financial Advisor, is not a Qualified Professional Trader, does not occupy any positions in Financial sector, does not share any Financial Interests within any Financial Institutions or individuals. The Author of this Article does not hold nor accept any financial and/or moral liability and/or responsibility whatsoever, for any events of gaining and/or losing any goods and/or capital as a result of consulting this Article. The Author of this Article takes it to his personal discretion whether or not to provide any additional confirmation and/or clarification on the contents of this Article except for those stated within the Article. This Article is only a representations of Authors’ individual opinion on a relevant Subject. Authors opinion does not represent an opinion of TradingView platform, and the Author is not affiliate with TradingView platform and any of TradingView employees by any means. If you disagree with all or any of Disclaimer statements above, and/or if you do not accept all or any of Disclaimer statements above, you should stop further reading on this Article.
I. Introduction.
Good day, TradingView community. It’s been a while since I’ve joined the platform, but I’ve never took my chance to participate in any discussion within this community. With recent financial events going really viral on media, and being a part of my favorite subject, I’ve decided to finally give it a try. And before you say something like: - “Hey, it’s easy to talk about this after everything is over!”, I will immediately appeal to you, claiming that: - No, it is not over, and there will never be an end to this. It is simply the first time your regular Jon Doe has found out about something like this from his newspaper, but it’s been going on for many years, happens at this exact moment you are reading this article, and will continue to happen in future.
II. How did I get here?
I’ve started my way in financial world and markets somewhere back in 2016, when I’ve discovered the markets for first time ever. It took me two years of “looking over the fence” here and there before actually participating, and boy when I got in – I got in REALLY BIG! Well, not THAT big as you might imagine it, but it was certainly a good and valuable amount of cash for me at that point. So, I got my money on my brokers account, and guess what was my first goal? Duh! Of course, I want to flip that bad boy into some crazy 100x gains RIGHT NOW! If only I knew, hehe.
The first thing that got into my attention were Crypto currencies. I’ve been so obsessed with the potential gains and ease of access and the variety of the markets, like, there were HUNDREDS of opportunities with hundreds of various coins happening every single second – I thought back then. And I got in. I did not just open a position, I got 100% of my account into Stellar. Why Stellar? Really, I don’t know. At that time, I did not know anything about charting or risk management, or money management, or had any trading strategies set in place – I got nothing. I just looked at the price graph without clearly understanding what’s going on, and just bought it.
You probably heard already about the “beginners’ luck”, don’t you? Oh yeah, I got mine as well! Somehow that purchase has made me TWO HUNDER US DOLLARS IN PROFIT in a manner of few months! Oh boy, that amazing feeling of making the money from trading for the first time ever! But that was just the beginning. That was just the predator tasting the blood for the first time ever, and you already know what’s going to happen next – there is absolutely no force in this universe that will make you stop at this point! At this point of time, you are an immortal demigod, you feel like now you own this place, now you own the market, you have cracked the code to an infinite wealth and prosperity!
III. As greedy as a pig.
But what is two hundred dollars? Well, I can probably pay some small portion of my monthly bills with that, or get a monthly sub with TradingView and some pizza, but it’s really nothing special, come on. I WANT MORE! AND I WANT IT RIGHT NOW! So... I’ve started looking! I’ve started looking for any possible ways to double or triple my deposit the fastest way possible! I’ve started reading various financial web-sites, and forums, and communities, and eventually I’ve ended up in Telegram messenger communities, various free and paid “Signal groups”, and “Pump&Dump” groups (I’ll just call ‘em “P&D”, okay?). I’ve been getting into this so rapidly and with such excitement, that in a manner of weeks I’ve been probably exposed to every known scammer and P&D group ever existed at that time. I’ve been participating in pretty much everything. A shower of losses could not stop me no matter what, because of that ongoing euphoria from the first winner I’ve made! First, I’ve lost roughly 30% of my account, but you think that would stop a market demigod? Hell NO! Get that cash flow running! I’ve refilled again and again, maintaining the initial deposit value.
But that’s gambling – some might say. Yeah, probably it was the gambling at that point, but you don’t really understand that when it’s happening in real time. And at some point, it happened. A huge devastating SINGLE trade loss of -60% of my entire account! I’ve got many losses at that point, but never did I have such a huge loss over night on a single trade. You think that would stop me? Nope, it didn’t. Instead, I’ve started getting involved into even more risky schemes to double that remaining deposit and get back what I’ve lost.
Until finally it was over for me. I’ve been sitting there with barely 5% remaining on my account and thinking that my way in trading is now officially over. That was it. My first even blown-up trading account, huge depression and the lost of faith in trading.
IV. Something doesn’t feel right…
But, wait. There’s something weird going on here. Whenever I try to tell other people that I’ve lost all my money with scammy group administration, my messages are getting deleted from the public chat and instead this whole place is spammed with some weird positive reviews with some random people endlessly talking about making a fortune here! What? How is that possible?! Who are those people?! And I try again. And again. And again. And all of my messages are being deleted nearly instantly without any clarification, until I’m getting banned and removed from the group all together!
Ooh! So that’s what’s going on here! So that’s how you are luring new people in! You are using bots to spam positive reviews and you delete and block anyone who are your actual victims! And you ALSO pay to other groups to advertise you for money to get more and more fresh meat and money into your pockets!
Now I get it. Now it’s all perfectly clear to me. I’m taking out those tiny remains of my capital back to my bank account and I give my word to myself to not touch the trading terminal until I actually learn this thing… The year is 2019.
V. Present time.
Oh wow! Some random stock is going so viral on the media, that I’m getting a news article about US Equities in a crypto news feed! Oh boy, I’m definitely going to check that out.
My god! What are those? I’ve seen those before! Those HUGE PILLARS OF P&D! What? This can’t be real? This is a US stock market! A “social media group” is standing behind all this? Waaaaait a minute!
I’m getting into that social media named “R” around Jan 27, and what do I see? Jesus Christ, the place is literally flooded with BUY-BUY-BUY spam! Not a SINGLE topic talking people into some common sense or managing their risks! EVERYTHING that goes against group agenda in getting instantly deleted!
Hohoho! I know that. I’ve seen that. I’ve been there myself. I’ve lost all my money there. And now this thing is everywhere – on Twitter, on YouTube, on TV. Wow! They’ve really grown-up at this stage! Hmm, let me try to set up and account, and to actually talk to people there, who claim to be taking loans to get into this P&D and risking their life savings. What? My posts are getting deleted for violating the “community rules”? My account is issued with warnings and gets blocked from ever posting to that group? Ha! I’ve really seen that somewhere already!
VI. In conclusion.
Schemes are always the same. Bots and censorship are always the same. It’s been happening in Crypto markets for many years now, and finally it got its hands to Wall Street. Media is now making a really big of a deal from something that has existed for so long, but has never touched your average Jon Doe via newspapers or TV.
I’m transparent and I’m honest about my stupid actions, and I’m not shy of my losses. But I’ve learned my lesson. I’ve learned it the worst and the hardest way possible at the very beginning of my trading experience. Really glad I was able to recover and to get to the current point of my trading career. But how many of those victims will recover? How many of those victims will learn something or get the message?
I’m really sad to see a lack of trading educational materials on risk management or trading psychology. And if there are any, people don’t care about them. People just read things that claim to make them rich overnight and nothing else matters.
I’m generally grateful to everyone investing their time into reading on my story and my thought on the current situation. Thank you very much for reading! I have many stories to tell and a lot of true experience to share. Please, let me know in the comment section if articles like this one are even worth of your time and if you would like to read more from me on the subjects of trading psychology and risk management?
Regards
Disclaimer: This Article and any Attachments to this article (if any), are not a Financial Advice and should be treated with decent criticism and a common sense. The Author of this Article is not a Qualified Financial Advisor, is not a Qualified Professional Trader, does not occupy any positions in Financial sector, does not share any Financial Interests within any Financial Institutions or individuals. The Author of this Article does not hold nor accept any financial and/or moral liability and/or responsibility whatsoever, for any events of gaining and/or losing any goods and/or capital as a result of consulting this Article. The Author of this Article takes it to his personal discretion whether or not to provide any additional confirmation and/or clarification on the contents of this Article except for those stated within the Article. This Article is only a representations of Authors’ individual opinion on a relevant Subject. Authors opinion does not represent an opinion of TradingView platform, and the Author is not affiliate with TradingView platform and any of TradingView employees by any means. If you disagree with all or any of Disclaimer statements above, and/or if you do not accept all or any of Disclaimer statements above, you should stop further reading on this Article.
I. Introduction.
Good day, TradingView community. It’s been a while since I’ve joined the platform, but I’ve never took my chance to participate in any discussion within this community. With recent financial events going really viral on media, and being a part of my favorite subject, I’ve decided to finally give it a try. And before you say something like: - “Hey, it’s easy to talk about this after everything is over!”, I will immediately appeal to you, claiming that: - No, it is not over, and there will never be an end to this. It is simply the first time your regular Jon Doe has found out about something like this from his newspaper, but it’s been going on for many years, happens at this exact moment you are reading this article, and will continue to happen in future.
II. How did I get here?
I’ve started my way in financial world and markets somewhere back in 2016, when I’ve discovered the markets for first time ever. It took me two years of “looking over the fence” here and there before actually participating, and boy when I got in – I got in REALLY BIG! Well, not THAT big as you might imagine it, but it was certainly a good and valuable amount of cash for me at that point. So, I got my money on my brokers account, and guess what was my first goal? Duh! Of course, I want to flip that bad boy into some crazy 100x gains RIGHT NOW! If only I knew, hehe.
The first thing that got into my attention were Crypto currencies. I’ve been so obsessed with the potential gains and ease of access and the variety of the markets, like, there were HUNDREDS of opportunities with hundreds of various coins happening every single second – I thought back then. And I got in. I did not just open a position, I got 100% of my account into Stellar. Why Stellar? Really, I don’t know. At that time, I did not know anything about charting or risk management, or money management, or had any trading strategies set in place – I got nothing. I just looked at the price graph without clearly understanding what’s going on, and just bought it.
You probably heard already about the “beginners’ luck”, don’t you? Oh yeah, I got mine as well! Somehow that purchase has made me TWO HUNDER US DOLLARS IN PROFIT in a manner of few months! Oh boy, that amazing feeling of making the money from trading for the first time ever! But that was just the beginning. That was just the predator tasting the blood for the first time ever, and you already know what’s going to happen next – there is absolutely no force in this universe that will make you stop at this point! At this point of time, you are an immortal demigod, you feel like now you own this place, now you own the market, you have cracked the code to an infinite wealth and prosperity!
III. As greedy as a pig.
But what is two hundred dollars? Well, I can probably pay some small portion of my monthly bills with that, or get a monthly sub with TradingView and some pizza, but it’s really nothing special, come on. I WANT MORE! AND I WANT IT RIGHT NOW! So... I’ve started looking! I’ve started looking for any possible ways to double or triple my deposit the fastest way possible! I’ve started reading various financial web-sites, and forums, and communities, and eventually I’ve ended up in Telegram messenger communities, various free and paid “Signal groups”, and “Pump&Dump” groups (I’ll just call ‘em “P&D”, okay?). I’ve been getting into this so rapidly and with such excitement, that in a manner of weeks I’ve been probably exposed to every known scammer and P&D group ever existed at that time. I’ve been participating in pretty much everything. A shower of losses could not stop me no matter what, because of that ongoing euphoria from the first winner I’ve made! First, I’ve lost roughly 30% of my account, but you think that would stop a market demigod? Hell NO! Get that cash flow running! I’ve refilled again and again, maintaining the initial deposit value.
But that’s gambling – some might say. Yeah, probably it was the gambling at that point, but you don’t really understand that when it’s happening in real time. And at some point, it happened. A huge devastating SINGLE trade loss of -60% of my entire account! I’ve got many losses at that point, but never did I have such a huge loss over night on a single trade. You think that would stop me? Nope, it didn’t. Instead, I’ve started getting involved into even more risky schemes to double that remaining deposit and get back what I’ve lost.
Until finally it was over for me. I’ve been sitting there with barely 5% remaining on my account and thinking that my way in trading is now officially over. That was it. My first even blown-up trading account, huge depression and the lost of faith in trading.
IV. Something doesn’t feel right…
But, wait. There’s something weird going on here. Whenever I try to tell other people that I’ve lost all my money with scammy group administration, my messages are getting deleted from the public chat and instead this whole place is spammed with some weird positive reviews with some random people endlessly talking about making a fortune here! What? How is that possible?! Who are those people?! And I try again. And again. And again. And all of my messages are being deleted nearly instantly without any clarification, until I’m getting banned and removed from the group all together!
Ooh! So that’s what’s going on here! So that’s how you are luring new people in! You are using bots to spam positive reviews and you delete and block anyone who are your actual victims! And you ALSO pay to other groups to advertise you for money to get more and more fresh meat and money into your pockets!
Now I get it. Now it’s all perfectly clear to me. I’m taking out those tiny remains of my capital back to my bank account and I give my word to myself to not touch the trading terminal until I actually learn this thing… The year is 2019.
V. Present time.
Oh wow! Some random stock is going so viral on the media, that I’m getting a news article about US Equities in a crypto news feed! Oh boy, I’m definitely going to check that out.
My god! What are those? I’ve seen those before! Those HUGE PILLARS OF P&D! What? This can’t be real? This is a US stock market! A “social media group” is standing behind all this? Waaaaait a minute!
I’m getting into that social media named “R” around Jan 27, and what do I see? Jesus Christ, the place is literally flooded with BUY-BUY-BUY spam! Not a SINGLE topic talking people into some common sense or managing their risks! EVERYTHING that goes against group agenda in getting instantly deleted!
Hohoho! I know that. I’ve seen that. I’ve been there myself. I’ve lost all my money there. And now this thing is everywhere – on Twitter, on YouTube, on TV. Wow! They’ve really grown-up at this stage! Hmm, let me try to set up and account, and to actually talk to people there, who claim to be taking loans to get into this P&D and risking their life savings. What? My posts are getting deleted for violating the “community rules”? My account is issued with warnings and gets blocked from ever posting to that group? Ha! I’ve really seen that somewhere already!
VI. In conclusion.
Schemes are always the same. Bots and censorship are always the same. It’s been happening in Crypto markets for many years now, and finally it got its hands to Wall Street. Media is now making a really big of a deal from something that has existed for so long, but has never touched your average Jon Doe via newspapers or TV.
I’m transparent and I’m honest about my stupid actions, and I’m not shy of my losses. But I’ve learned my lesson. I’ve learned it the worst and the hardest way possible at the very beginning of my trading experience. Really glad I was able to recover and to get to the current point of my trading career. But how many of those victims will recover? How many of those victims will learn something or get the message?
I’m really sad to see a lack of trading educational materials on risk management or trading psychology. And if there are any, people don’t care about them. People just read things that claim to make them rich overnight and nothing else matters.
I’m generally grateful to everyone investing their time into reading on my story and my thought on the current situation. Thank you very much for reading! I have many stories to tell and a lot of true experience to share. Please, let me know in the comment section if articles like this one are even worth of your time and if you would like to read more from me on the subjects of trading psychology and risk management?
Regards