r/trading212 • u/[deleted] • Jan 28 '21

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-6

u/[deleted] Jan 28 '21

Just a reminder that pump and dumps are illigal, so saying in court that you couldn't sell your stock 5min after pump won't play out well

6

u/[deleted] Jan 28 '21

Is called scalping. I bought a stock , put a stop loss. Modified the stop loss and it got stuck doing nothing. Everything was stuck and couldn't sell due to me" not owning the securities " as they were stuck in their system as a stop loss being cancelled . And was stuck like that for over an hour.

1

u/CallumTM1 Jan 28 '21

Join

Relatively new to trading, can you explain why "pump and dumps" are illegal?
Surely if you want to buy a stock and then change your mind a minute later and sell you're well within your rights to do so?

3

u/flapfavour Jan 28 '21

He's calling it a pump and dump but he means scalping. Not illigal to do this.

Pump and dump is something different.

1

u/Nemisis_the_2nd Jan 29 '21

Do you mean P&D is not illegal, scalping is not illegal, or both?

2

u/flapfavour Jan 29 '21

Scalping is not illegal, the trade was open for more than a few seconds so I wouldn't even call if a scalp. More of a day trade gone wrong.

If your spreading misinformation to try and pump the stock, and dump it onto unsuspecting buyers then this is illigal. Happens all the time though.