Goodbye - Hopefully for Now!



  • Last Sunday I withdrew all of my funds bar £10 out of the Index. I’ve left around £10, which is 1 share each in Bruno and Foden to prevent the account from becoming inactive and will trade in and out of those 2 shares from time to time to keep up the “active” status. I’ll keep updating my personal spreadsheet tracking PB/MB/MDE winners if I should return.

    My port cost this after football was cancelled and lockdown began:

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    I withdrew my port by IS (some in profit) of £3200. Grillitsch was the only one I had to put on the market and it took a week for him to sell. But I have put in extra money since lockdown for Messi, Bale, new players, etc of £1670. So my real port cost was £1,530. A more than £500 hit to get out.

    Many think FI are clowns and don’t know what they are doing, but that is far from the case. They invented this marvelous concept and know exactly what they are doing. I discovered FI in 2018 a few months after I first invested in crypto that same year. I got bored of crypto at that time and went all in with FI as football is what I love.

    I went to my first Trader Meet in central London that year and we were introduced to 2 new directors from a hardened gambling background. My heart sank a bit as I knew immediately where FI were going: into a more normal bookmaker model where the platform is heavily fixed in favour of the bookie winning. They were talking about order books (OB) and NASDAQ in their Twitter communications that year. All the changes they’ve made since then were what they had planned. Of course, they could not have planned for covid, but they handled that very well. Removing IS and installing 40% spreads meant they had trapped traders who had no choice but to accept the now hastened changes into OB.

    Adam Cole also got excited when he saw around £150m (IndexTrax estimates) of IS liability that were temporarily removed from FI books and onto traders. In a live Twitter Q&A when asked about FI IS, he categorically stated that they would not be removed as that was part of the FI offer and what they were all about. He gave no notice of its permanent removal in order to prevent an even more accelerated exit of traders due to covid.

    The bit-by-bit installation of the OB is the only thing that I’ll admit FI had no clue in what they were doing. If they understood OBs then no way would they have implemented them in pieces. They’re learning quickly though.

    The most obvious and serious problem facing FI now is the lack of liquidity and no bids/few bids. It’s literally the brontosaurus in the room. FI know full well about it, but are unwilling to get their LP001 to provide full bid support until the worthless players IPOed in 2018 for the World Cup expire and after FI themselves manually remove many players they judge to be uneconomical, as per their latest T&Cs. It’s the only logical explanation. After that purge ends sometime probably this year, FI are literally gambling that there are enough cheesed-off traders that will stay to keep the company afloat. They will then go on a recruitment campaign and charm offensive to win new customers and hopefully some old ones too, to sign-up to the new, thriving platform. I believe they will get there. I’ll be able to buy back in at the crashed prices.

    However, I’m not prepared to gamble that I’m wrong, and the company collapses and I‘m left switching off the lights. That job is @Karl 's LOL.

    I’ve reinvested my withdrawal into crypto as I’m now bored stiff with FI. I’ve recently made 500% and 300% profit from coins (BTC and Dogecoin respectively) bought in 2018. Crypto is flying and it’s obvious that it’s the future in an increasingly digital and AI (Artificial Intelligence) and AR (Augmented Reality) world. You’ll find me on the Discord cryptocurrency and general chat rooms.

    Good luck!



  • @Londoner

    Take care brother.

    Best of luck.



  • All the best 👌



  • @Londoner I wish you well Bud but I know 100% you will be back, so I won't say goodbye just yet. The fact you kept two shares says it all 😜

    Do me a favour and just be really careful with the cryptos, as its in a massive bubble that is being inflated daily. The wolves have joined the party now and all the sheep are still bleating about 100, 200 and 300K bitcoin values. The sheep are going to get slaughtered most likely once the dollar has been inflated enough.

    Till you return, take care and until your back I will keep the lights on 😊



  • @Karl said in Goodbye - Hopefully for Now!:

    @Londoner I wish you well Bud but I know 100% you will be back, so I won't say goodbye just yet. The fact you kept two shares says it all 😜

    Do me a favour and just be really careful with the cryptos, as its in a massive bubble that is being inflated daily. The wolves have joined the party now and all the sheep are still bleating about 100, 200 and 300K bitcoin values. The sheep are going to get slaughtered most likely once the dollar has been inflated enough.

    Till you return, take care and until your back I will keep the lights on 😊

    I'm fully aware of the very volatile crash/boom nature of crypto. When it crashes, you buy low, and sell high. As long as it stays decentralised and out of the control of government and banksters, the only way is up!



  • @Londoner I look forward to seeing if the elites will roll over and let the new generation take over the money supply.

    Something tells me, there is going to be carnage one way or the other.

    Best of luck with it and see you when you get back 😜



  • Good on ya mate. Bored with XBT - fair enough there's nothing you really need to do with it - just HODL and DCA on the odd dip (if there are to be any).

    I suggested the move to XBT a month ago - about £25k - now $50k ATH. The abuse jumped off the screen.

    Don't know your XBT profit but I sold half my holding when they doubled and so in for free. Bad move with hindsight but no worries about any crash.


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