Binance End Game Thread

[niko_cee]

Wasn't "laying the whole account down" what it was all about anyway?

I can sort of see how you can finagle a life out of a 50k pot in clever spot/day trading [on an individual basis, I have no idea of the jargon], but I never really understood how the same percentage transitions were going to pan out once you were trying to turn 100k in 200k etc and it's interesting to see that the answer was perhaps they don't.

Hope your other account serves you well Mellin, and this can be a lesson of some sort.

[Yevrah]

I can sort of see how you can finagle a life out of a 50k pot in clever spot/day trading [on an individual basis, I have no idea of the jargon], but I never really understood how the same percentage transitions were going to pan out once you were trying to turn 100k in 200k etc and it's interesting to see that the answer was perhaps they don't.

They're just numbers and while I have no clue about trading, I know how they work.

[phonics]

Well I was definitely more entertained by this one than the first one. The content was just as underwhelming as the first time round but it wasn't my 50 quid.

[Kikó]

I'm not a trader but have worked in a bank and this is the reason you have risk management in place to avoid blow out and hedge the downside. The size of the account would only matter if you're trying to move rapidly but I didn't think that was the objective this time. The size of the account will always blow out if you're over leveraging and getting margin called.

I lost nothing this time round.

[Spikey M]

It's basically just a trading version of the old "wheat on a chess board" problem I think. It's easy to double £1. Easy to double £2. But once you're trying to double £10,000+, especially if it isn't yours, you run into problems.

I still maintain that it's doable - I couldn't do it, to be clear -but I think you need the perfect storm to form in your favour. 2020 probably did make a lot of new millionaires in that bullmarket as it goes. Precious few millionaires being made in today's market.

[randomlegend]

Mellin's been to prison right? If he has just taken the money and run then it's some heist.

Convincing a bunch of people who you've told you've been to prison to give you loads of money for you to invest with no evidence (as far as I can remember, might be wrong?) of you being any good.

Twice.

And nobody even has any significant suspicion.

[Magic]

I'd rather give mellin £200 for him to spend on whatever he wants than read your posts RL.

[randomlegend]

I've read your posts in the job thread, you don't have £200.

[Shindig]

And that should stop him?

[Kikó]

Going to prison for ABH isn't the same as financial fraud. He's not Mel Capone.

[Danny]

Not with that attitude.

[Magic]

I've read your posts in the job thread, you don't have £200.

But I did. Lord help me, I did.

Until Mellin stole it.

[Pepe]

I gave Mellin fifty quid this time round. Which idiots went large on it?

I was a bit surprised when I saw people giving more the second time around. You know, after losing all of their money on the first try. You would think that the confidence on the enterprise would go down, not up, yet here we are.

[-james-]

It's been quite a good psychology experiment. A group of people who I would generally consider to be reserved sceptics keenly lobbing their money at something totally pie in the sky.

[Giggles]

Boredom and staleness combined with having a load of disposable cash.

[Magic]

I was a bit surprised when I saw people giving more the second time around. You know, after losing all of their money on the first try. You would think that the confidence on the enterprise would go down, not up, yet here we are.

Mellin oozes confidence. I'd probably go a third time.

Baz, on the other hand...

[Manc sean]

I'll throw a ton at the baz bot for the craic.

[Manc sean]

What's it betting on or buying and selling?

[niko_cee]

It's botting.

Although I'd stick some on his horse whenever it runs.

[Manc sean]

What does that mean? The arse might be falling out of the craic here.

[Kikó]

I imagine it's arbing in some way with some minor price variations. Don't waste your money on it Sean, Luna Terra two is on the way.

[Manc sean]

I'll go back on the luna, that was great fun. I tried to catch a falling knife and did 5 bags at £41 as it was crashing. Was worth about £30 an hour after I bought it. Haha.

[Jimmy Floyd]

It's been quite a good psychology experiment. A group of people who I would generally consider to be reserved sceptics keenly lobbing their money at something totally pie in the sky.

Like doing an acca, basically, but with a decent salesman at the helm.

[Kikó]

I'll go back on the luna, that was great fun. I tried to catch a falling knife and did 5 bags at £41 as it was crashing. Was worth about £30 an hour after I bought it. Haha.

I think you'll be entitled to something on the air drop on Friday. It's all gibberish. Hopefully the nfts return their values for the future lambo fund.

[Yevrah]

I was a bit surprised when I saw people giving more the second time around. You know, after losing all of their money on the first try. You would think that the confidence on the enterprise would go down, not up, yet here we are.

I can only really speak for myself, but it was the clearest case of FOMO you will ever see. The thought of posting on a board for nearly 25 years already (and realistically now for the rest of my life) while everyone's loaded from it but me? Fuhuck that.

[Yevrah]

I'm not a trader but have worked in a bank and this is the reason you have risk management in place to avoid blow out and hedge the downside. The size of the account would only matter if you're trying to move rapidly but I didn't think that was the objective this time. The size of the account will always blow out if you're over leveraging and getting margin called.

I lost nothing this time round.

Didn't you put £500 in?

[Yevrah]

It's basically just a trading version of the old "wheat on a chess board" problem I think. It's easy to double £1. Easy to double £2. But once you're trying to double £10,000+, especially if it isn't yours, you run into problems.

I get that, but it makes no sense when it comes to £25k being much better to work with than £12k.

[Pepe]

I can only really speak for myself, but it was the clearest case of FOMO you will ever see. The thought of posting on a board for nearly 25 years already (and realistically now for the rest of my life) while everyone's loaded from it but me? Fuhuck that.

That would definitely sting.

[Kikó]

Didn't you put £500 in?

I lied.

[Baz]

Didn't you put £500 in?

How much did you put in?

[Yevrah]

I lied.

Ok, well this is starting to smell a bit then as Mellin definitely said someone had, if it wasn't you, who was it?

[Yevrah]

How much did you put in?

£500.

EDIT: I should add, if I'd had proper faith in it I'd have put a lot more in.

[Lewis]

lol

[Yevrah]

lol

I don't want to sound like a dickhead and I know this does exactly that, but it's an amount I wasn't bothered about losing. A grand would have been too much, £500 about right.

[phonics]

Care to invest in PhonInc. for 250 quid Yev?

[Kikó]

Ok, well this is starting to smell a bit then as Mellin definitely said someone had, if it wasn't you, who was it?

No idea. I've lost £50 first time round and decided that was enough 'fun'.

[Yevrah]

Care to invest in PhonInc. for 250 quid Yev?

If everyone else was in there's a chance I might be, but I'm assuming this particular train has derailed now.

[phonics]

I can promise 200% of the posts with 100% of the same results. That's a deal. I'll even make a graph or two for an extra 150% investment.

[Yevrah]

[Sir Andy Mahowry]

I'll take a tenner, Yev.

[Don]

I would have understood the rebuy if there was the slightest bit of tangible content but all it seemed to be was Shinners-esque posts with no one having any idea what was going on. I haven't been so disappointed in the community since I saw Mahow's antics with the Ukranian.

[Yevrah]

It was (nearly) all FOMO and who the fuck knows if it went straight into Mellin's pocket or not, but if it did, fair play to him, one hell of a scam.

[Lewis]

Yeah nice one Mellin. Nice one scamming us mate.

[niko_cee]

He's probably quite gutted it hasn't panned out, twice.

More gutted than shelling a couple of hundred quid anyway.

[Sir Andy Mahowry]

I reckon he could rob us a third time if he leaves it long enough.

[Ian]

"This time the beans really ARE magic!"

[Kikó]

I would have understood the rebuy if there was the slightest bit of tangible content but all it seemed to be was Shinners-esque posts with no one having any idea what was going on. I haven't been so disappointed in the community since I saw Mahow's antics with the Ukranian.

This was it for me. I was hoping for some screenshots of the trades and some content around the types of trades. Then it would have been fun and educational on the way to not being a millionaire.

[Shindig]

If he wanted to be completely transparent, he'd have given out login details for the account so every investor could see the movements. But then you've got dozens of hands stirring the pot.

[John Arne]

I would warn, however, that my mate did this about 10 years ago... made a lot, lost a lot, made a lot then had to quit because it was destroying him (the stress when it started becoming about trades of thousands, rather than hundreds.).

Sounds like a bit of a soft lad. Should try trading in the knowledge that you have an audience. Would’ve toughened him right up.

I'm obviously not going again. It is exhausting trading that close to the edge and I'm focusing earning a living on my other account (more capital, slower pace), plus I think losing other people's money twice is more than enough.

+1 e-victory

But yeah, good luck with the personal account, Mel. This was a good read if nothing else - and I'm slightly relieved having not paid into the second round of funding. #FOMO #YevWasRight

[Baz]

If we do a group pot bot, I’ll live stream it 24/7.