What is WallStreetBets (WSB)?
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Let's find out WallStreetBets (WSB) meaning, definition in crypto, what is WallStreetBets (WSB), and all other detailed facts.
WallStreetBets, also referred to as /r/wallstreetbets ('/r/' denotes that it is a subreddit) or WSB, is a decentralized Reddit forum aimed at discussing options trading and stocks. Participants of the subreddit typically engage in high-risk day trading with the goal of quickly improving their financial status.
It's worth noting that WSB community members tend to use words like stonks (rather than stocks) and tendies (refers to gains) as their typical slang.
Recently, there has been an increase in the number of no-commission brokers and mobile trading platforms, both of which have aided in the development of this new online trading environment. Participants in the subreddit, as well as inexperienced retail traders and investors, usually do not follow many traditional standards, such as risk management approaches.
Because of the community's concentration on extremely speculative leveraged options trading, this Reddit thread has a reputation for circulating and inspiring reckless trading tactics.
Overall, WallStreetBets is famous due to the community's use of slang and memes, as well as its notoriety for risky trading practices. For example, the WallStreetBets community was a significant part of the GameStop selloff, which resulted in huge losses for multiple corporations and short sellers in early 2021.
So, if you're searching for a piece of advice on trading, you should find another subreddit to follow. Or, even better, you should find a proper learning platform that teaches about various trading techniques. For starters, you could check out the Binance Academy or this Crypto 101 Handbook.