It's only money 💰



  • How long until people think it will recover?



  • I agree mate, not in it for the cash. Just the pretty colours and occasionally abusing and/or agreeing with forum members.



  • @GH as long as you agree with me its all good



  • @NewUser134578 that’s the golden question at this point tbh.

    Thankfully I only have 1 real bad loss I can’t exactly explain/understand.

    Others ain’t so lucky.

    Just have to take it on the chin and try and decrease the average cost at this point.



  • Although I understand the panic to a degree I've been here 3 years now and I've seen a number of ups and downs. My portfolio is still nearly 10k above what is was after the covid drop and I haven't put any more money in so things aren't so bad. If it takes 6 months to recover then so be it.



  • It's not pretty viewing for any newbies, but taking into consideration what has happened in the last 6 months plenty of people knew that many of the MP figures were out of reach.

    7 months ago people were getting there ports ready for the Euro's and i'd imagine alot of those players are now higher than they were then. Factor in the fact that the Euro's are now postponed until next summer, with increased dividends then these players can only (in my eyes) climb even higher, which in some way will drag others up aswell.



  • Thing is it hasnt actually dropped at all. The value shown in your portfolio today is an accurate representation of what it has been worth the whole time. We were just being shown a false figure before. My 5k portfolio has 'dropped' £400 today but that is a combination of a false rise yesterday from unlisting as well as certain players (eg my depay shares) not being worth even close to their buy now price before so it shouldnt worry anyone.



  • @EThomas9 said in It's only money 💰:

    Thing is it hasnt actually dropped at all.

    ☝️Incorrect.

    The value shown in your portfolio today is an accurate representation of what it has been worth the whole time.

    ☝️Incorrect.

    We were just being shown a false figure before.

    ☝️True

    it shouldn't worry anyone.

    ☝️Incorrect.

    ...

    I swear, it's like there's like a mass delusion going on here. How can so many people convince of something that's plainly not true. It's blowing my mind.



  • @Dan-The-Man I think the logic is, rightly or wrongly, that market sell was largely unachievable for many players, therefore the"profit" shown wasn't accurate. Now, however, the profit figure should be far more readily receivable. I believe this is the logic for saying the achievable profit hasn't changed, even if the column on your port screen has.

    Also, people have been demanding the sell side for ages and most have seen a tidy rise recently, which takes the sting out of today a bit. Still not good though, even if not surprising.

    Ultimately, I didn't want OB as I feared a price crash. Whilst that is precisely what the short term has brought, FI is a young, rapidly growing product and I have faith that they would not knowingly do something to harm their long term prospects. If FI grows, it likely to be good for us, as prices will rise organically.

    There are many reasons to be positive, but no doubt about it, today has been disappointing and my worst on the Index by some way. However, it's about looking forward now, as new opportunities are always presenting themselves.



  • @Mintyfresh said in It's only money 💰:

    @Dan-The-Man I think the logic is, rightly or wrongly, that market sell was largely unachievable for many players, therefore the"profit" shown wasn't accurate. Now, however, the profit figure should be far more readily receivable. I believe this is the logic for saying the achievable profit hasn't changed, even if the column on your port screen has.

    Prior to the introduction of ME, you could IS at a tiny percentage or sell to market if you weren't in a rush. At that point, your port value was pretty much bang on, minus the 2% commission and the very tiny spread.

    Then FI, pulled the rug... increased the spreads by 40% and removed IS, which was when they put your neck in the noose... Today they kicked the chair from under you.

    6 months ago, I could have cashed out in an instant with more money than I could cash out now and that's despite my portfolio rising for 6 months. And who gained? Not other traders... look around the platform, almost every trader has a portfolio that's crashed... the only people who have profited are the platform holders.

    I have faith that they would not knowingly do something to harm their long term prospects.

    It hasn't harmed their long term prospects. They made an absolute fortune off of today and the people they damaged either have to make their losses even worse by taking still crazy spreads on top of the price drop...

    Or...

    By trying to win back the money, even though FI could just pull the rug again.



  • @Dan-The-Man you might be right about the future, so won't argue when I don't know.

    My only couple of points would be:

    1. The ME/IS change happened 6 months ago. Caused a lot of anger at the time, but I suspect that's why there's less today, as this has been known for some time. Again, not saying people are right, but just trying to offer an explanation.

    2. I'm not exactly sure that prices dropping today makes FI more money. I've given them no extra cash and if I sell somebody, they'll get less commission than before. It also gives someone another 3 years of dividend exposure for FI. Removing IS was definitely good for the FI balance sheet but not convinced I agree that they benefit from lower prices.



  • @Dan-The-Man I was going to try and do devils advocate and refute your points or try bring comfort to you etc etc.

    However I really dont have a leg to stand on and there isnt much I can actually say to make anyone in that situation to make them feel better.

    My base responce would be "good time to top up" "loads of growth coming so itll recover quickly" or something long those lines, but that would just be cheek and adding insult to injury.
    So im going to keep quiet.

    Really hoping this is just a tiny blip and things didnt go quite as planned, as if this was the plan.........................



  • @Mintyfresh said in It's only money 💰:

    @Dan-The-Man you might be right about the future, so won't argue when I don't know.

    My only couple of points would be:

    1. The ME/IS change happened 6 months ago. Caused a lot of anger at the time, but I suspect that's why there's less today, as this has been known for some time. Again, not saying people are right, but just trying to offer an explanation.

    Yeah, they put your neck in the noose 6 months ago. Today they kicked out the chair you were standing on. Just because they took their time to kill you, doesn't mean they didn't kill you.

    1. I'm not exactly sure that prices dropping today makes FI more money.
    • Every sale today, FI took commission from.
    • Plenty of gamblers are throwing good money after bad to try "catch the opportunities"
    • Prices dropping means FI don't need to do a share split to keep the platform attractive for new marks

    It also gives someone another 3 years of dividend exposure for FI.

    FI have the data on how dividends are spent.... how many of your dividends have you reinvested?



  • @Kanzz said in It's only money 💰:

    Really hoping this is just a tiny blip and things didnt go quite as planned, as if this was the plan.........................

    I'm 100% certain this was the plan. I've been saying for months that they'd screwed us over and that these order books was their way of taking back our winnings. Kept hearing "There won't be a race to the bottom" and "you'll see, these will close the spreads for everyone" and "the market makers will fix the problem".

    I'm seeing tons of people reporting 10% or greater drops... FI just paid for the dividend increase with todays move. And the bleeding hasn't stopped. Sure, a very specific group of players are about to rise, then by the time next season rolls around, the bottom end of the market might have grown again... but the amount of players who will never recover, either because of their age, or the league they'll move to, etc... that's pure profit for FI at the hands of customers.



  • @NewUser134578 said in It's only money 💰:

    How long until people think it will recover?

    Neverrrrrrrrr



  • @MickTurbo said in It's only money 💰:

    @NewUser134578 said in It's only money 💰:

    How long until people think it will recover?

    Neverrrrrrrrr

    Even if it does, what's to stop FI pulling another stunt just like today and chopping everyones profits again?



  • @Dan-The-Man Ill be honest I was on that boat, however I thought I just didnt have the big picture and once I better understood I thought MM where going to come in and prop the market up and tighten the spreads and keep the wheels spinning, like an artificial IS of sorts.

    Either that or they are waiting on the market to bottem out then bring in the MM's, however at that point the damage has already been done so why even bother tbh...?

    Again im not trying to be captain negative right now so im going to hold back from going full retard.

    However this is insane......
    Yes we all expected prices to dip, however with the help of MM we expected them to meet in the middle somwhere.
    Not bottom out then have an even lower just as wide % IS.............



  • @Dan-The-Man said in It's only money 💰:

    @MickTurbo said in It's only money 💰:

    @NewUser134578 said in It's only money 💰:

    How long until people think it will recover?

    Neverrrrrrrrr

    Even if it does, what's to stop FI pulling another stunt just like today and chopping everyones profits again?

    They probably will mate, leave me, save yaself



  • @Kanzz said in It's only money 💰:

    @Dan-The-Man Ill be honest I was on that boat, however I thought I just didnt have the big picture and once I better understood I thought MM where going to come in and prop the market up and tighten the spreads and keep the wheels spinning, like an artificial IS of sorts.

    Either that or they are waiting on the market to bottem out then bring in the MM's, however at that point the damage has already been done so why even bother tbh...?

    Again im not trying to be captain negative right now so im going to hold back from going full retard.

    However this is insane......
    Yes we all expected prices to dip, however with the help of MM we expected them to meet in the middle somwhere.
    Not bottem out then have an even lower just as wide % IS.............

    What frustrates me the most, is that I called this but I couldn't do nothing about it. I've had to sit there waiting to be screwed. My choice was "Instant sell at 40%" or hope that the damage was less.



  • @Dan-The-Man

    U deserve better than that, I apologise, I imagine u have fared worse than most today, I do get your angle, on a serious note, what's your strat going forward


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