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Thread: Online Trading - Robinhood

  1. Default Online Trading - Robinhood

    Does anyone else use Robinhood for casual (or not so casual) trading?

    I've been using it for a little while now - I don't have a ton of experience, I've never used E-Trade or anything else, but so far I'm enjoying it. It's clean, intuitive, and I had no trouble getting things set up.
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  2. #2
    Quote Originally Posted by Zenak View Post
    Does anyone else use Robinhood for casual (or not so casual) trading?

    I've been using it for a little while now - I don't have a ton of experience, I've never used E-Trade or anything else, but so far I'm enjoying it. It's clean, intuitive, and I had no trouble getting things set up.
    IMO, the worst trading platform you could choose. You can get locked into (or out of positions), a short-term trader's worst nightmare when a stock is moving quickly. All I ever hear from other traders is complaints about this.

    And, the RobinHood Reddit discussion forums are infested with scam artists, bunkos, and total noobs, which is probably a further indicator of the overall sophistication of their product.

    I have TD Ameritrade's ThinkorSwim standalone platform, it's pretty goddam slick, so I'm willing to pay the slightly higher fees they charge on options. Being the total degenerate gambler I am, I'm mainly a part-time options trader, as I find equity trading too dull. I like putting out $500, with a chance to make several times that amount (or lose it all, which does happen, you just have to roll with it).

    We should have a thread on here for best/worst all-time trades - I have some doozies to tell, on both the winning and losing end. Just as a teaser, years ago before getting into options, I bought 100,000 shares of a micro-cap for $0.007 a share and sold them later for $0.02, and I thought I had made a hell of a good trade. And, then, I watched that goddam miserab of a stock rise from $0.02 to $0.05, to $ 0.10 to $0,20, and onward.....it didn't stop until it hit $0.45. Do the math, I pissed away a chance at $45,000 for a whopping $700 investment. I kicked my own ass for months after that one.

    Anyway, back to being sick, and hitting the re-fresh key on my USPS tracking page, woowhoo, life is great.
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  3. Interesting. I have heard about their day trading blocks. I'm not one to look to buy and sell in a short term, yet. I suppose if/when I get there I'll be paying someplace else for that privilege.

    Thanks for the feedback!

  4. I love Robin Hood. I can’t stop myself from checking how my stocks are doing every hour though! I’ve heard a few complaints from people where the app glitches when they go to buy/sell a stock at a good price which causes a delay and loss of money

  5. Quote Originally Posted by Junepei View Post
    I love Robin Hood. I can’t stop myself from checking how my stocks are doing every hour though! I’ve heard a few complaints from people where the app glitches when they go to buy/sell a stock at a good price which causes a delay and loss of money
    My understanding is that casual traders seem to love it. It's really not meant for day traders, but they are usually more than willing to pay for the trades they make.

    I'm looking forward to Bitcoins coming to my state so I can consolidate that there as well.

  6. Hate that.
    Always good to focus on the gains you made rather than the ones you missed (if it's even possible to do that),
    I've found with time you become a bit numb to both gains and losses which makes you a better trader imo as you take the emotion out of things.
    Never traded options myself (bit too rich for my blood) but I'm with interactive investor (which took over from TD in Europe there last year). Very easy site to use and definitely worth the few bob extra for that.

  7. #7
    I'm looking to put together a small bankroll so I can get back into the options game. I did okay for while, then had a few really bad losses that wiped out my trading account. My last play was a put on BYND (Beyond Meat). That one IPO'd earlier in the year at $40 and went to $200 in a matter of days, giving it a market cap over $10 billion which was just plain nuts. I knew it would come down, so I bought a Nov expiry put earlier in the year so I could catch the sell-off when the lockout period ended in Oct. Well, it came down all right, but never reached my strike. I ended up selling it for a faction of what I paid before expiration. If I had held it to the end, the put would have expired worthless.

    The time premium on options is what really kills you, especially if the first directional move goes against you. Then, you have to either suck it up and sell for the loss or go through the obsession of waiting and hoping it reverses direction and moves toward your strike.

    I think the best way to make money in the options market is actually writing out-of-the-money's calls, if you have the capital available to back the trade.
    Drug criminalization is modern-day slavery.

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