Its definitely this one. Robin hood is still used for its simplicity (the other more ‘serious’ trading apps are pretty garbage) but because they also approve hella margin for everyone.
A very small number, like 1 in 10000, make like a 10000% return on something that normally would have lost them every penny and post something like this when they try it again and lose. It’s pretty sad. Many with bad gambling problems.
From my experience, living with the parents and having no social life, it’s pretty easy to gamble on the stock market even on 15hr. So I can imagine someone who lives with their parents and makes 50k-100k could be moving fat stacks of cash on the market
How do these tater tots even get so much money to start with.
i think a lot of it is margin which is extra risky
Its definitely this one. Robin hood is still used for its simplicity (the other more ‘serious’ trading apps are pretty garbage) but because they also approve hella margin for everyone.
the same way every other rich person gets their money to start with: from their parents
A very small number, like 1 in 10000, make like a 10000% return on something that normally would have lost them every penny and post something like this when they try it again and lose. It’s pretty sad. Many with bad gambling problems.
(Lower middle class Job + no social life) x years = a modest amount of money
From my experience, living with the parents and having no social life, it’s pretty easy to gamble on the stock market even on 15hr. So I can imagine someone who lives with their parents and makes 50k-100k could be moving fat stacks of cash on the market