3 Discord Servers for Day Traders

Reddit got a lot of media attention when its horde of retail day traders collectively organized to take on big money funds. Traders piled into heavily shorted stocks to squeeze out big hedge funds, creating a Cinderella story. 

The hype picked up as congressional hearings targeted Robinhood and others over possible price manipulation. Over 10 million new brokerage accounts were opened in the first half of 2021 as frenzy grew over GameStop Corp (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC).

By June, these individual investors bought almost $28 billion in stocks and exchange-traded funds. And these retail investors aren’t stopping at Reddit – online forums like Discord and Telegraph are increasingly being used.

Why is Discord becoming a breeding ground for day traders and long-term investors alike to organize?

Why Use Discord for Investment Info?

Discord was created in 2015 and grew steadily in the gaming community. Online groups used the platform’s servers for VoIP group chat and instant messaging. It’s an ideal place for gamers to organize group activities and communicate without the need of in-game features. 

And now that it’s a part of the gaming conversation, the company is now pushing to expand into other communities. Cryptocurrency and investment communities were among the first to blossom on the platform.

There are over 140 million active monthly users on Discord, with the pandemic lockdowns driving adoption in a big way. Users can share their screens, do group watch-alongs, create public Stages, and more. The company’s bots also play a large part in why community moderators love it, along with seamless integration with Twitch and YouTube communities.

Discord’s most recent purchase of AI company Sentropy shows its dedication to monitoring and managing harassment and trolls on the platform. Discord is an ideal place to build a community with common interests and goals, and that’s what makes it so efficient for trading.

Here are some top discord servers for day traders to monitor.

/r/wallstreetbets

Walllstreetbets is the infamous Reddit investor community that initiated a memestonk revolution in the 2020s. User DeepEffingValue notably netted an eight-digit gain from his early investment in highlighted short squeeze darling Gamestop (GME).

The thread instantly gained notoriety and grew to over 10 million self-proclaimed “Degenerates.” As time went on, wallstreetbets and DeepEffingValue became the poster children for the individual retail trader revolution. Of course, the original r/WallStreetBets Discord server was swiftly banned in January 2021.

Now it has an active Discord server with over 550,000 members. With Discord’s communication capabilities, the WSB community can chat in real time and make much faster decisions. Speed of information is a key ingredient to successful trading and enables traders can take on big money investors more effectively.

Joining the /r/wallstreetbets Discord server is valuable for anybody looking to add another dimension to their Reddit experience. It’s a popular backchannel filled with many of the same characters. Beyond AMC and GME, the group also organized investments in cannabis, Nokia (NOK), and other traditionally disadvantaged picks.

It’s all much to the dismay of every Wall Street analyst and commentator who dismiss the “dumb money” as ignoring the fundamentals. But the real dumb money can be found elsewhere on Discord.

Dumb Money

Dumb Money is a popular online community started by three friends: Chris Camillo, Dave Hanson, and Jordan Mclain.

The term is used to represent whomever is left holding the bag on any investment. Even with a company as strong as Amazon.com, Inc (NASDAQ:AMZN) or Alphabet Inc (NASDAQ:GOOGL), you can end up buying high and selling low.

Hedge fund investors weaponized the term against individual traders, but this group of investors and creators took the power of the term back. Their point is to show that any individual investor can make wise investment choices with seemingly dumb money.

But don’t get the name twisted – you’re not getting dumb advice or tips from these guys. They know how to target 10x returns and have a track record to prove it. But they don’t fill their channels with random investment advice.

Instead, Dumb Money provides a wealth of content discussing the underlying business models, leadership, and customer bases of each company. Instead of “dull” information that relies solely on financial statements (which are admittedly important), the team explains the real-world applications of the fundamentals.

This helped them grow a six-digit YouTube following with an active Discord community too. The server itself has a ton of community channels, but it also focuses on news and information on a variety of industries. 

Boiler Room Trading

Boiler Room Trading is a homegrown Discord community built by Connor Pollifrone, a trader in his twenties who also has a website offering many of the same online investment tools. The community now has over 55,000 members and continues growing on the back of its solid day trading information.

The server’s most popular channel is #Daytrading, which draws thousands of traders each day discussing their possible trades, picks, and analysis. Like many investment Discord servers, there is also a premium service that you must pay to access.

Despite the paid services, the free information is often filled with solid leads. The community leans toward unknown stocks with big growth potential, and many are best to be bought and sold in short time periods.

Penny stocks and cryptocurrencies are among the riskiest investments mentioned in the community, and you would do well to perform due diligence before committing to anything financially. Besides those risks, you will find an active and engaged community that may make you some friends or may possibly even make you some money.

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The author has no position in any of the stocks mentioned. Financhill has a disclosure policy. This post may contain affiliate links or links from our sponsors.