With Dogocoin price surging to new heights, many Chinese retail investors are again joining the fray.
Retail investors are colloquially called ‘chives’ in Chinese, because after being reaped, they are still able to grow back for another round of reaping. Now armed with mobile real time trading tools (such as Futu) and social media/chat tools (including Telegram), it is a consensus that more people are becoming ‘chives’. Many of these ‘chives’ find tactics of WallStreetBets familiar too.
Someone composed the following “Evolution of chives”:
In the beginning, only knew trading stocks
And only losing money when stock prices are dropping
Then learned to short stocks
Now losing money when stock prices are rising
Then learned to play with options
Now capable of losing money regardless of price rising or dropping
Then learned to do futures
Now losing money even when you are sleeping
Finally learned to trade cryptos
Losing money during the weekends too, truly 24/7