"Rainbow" (rainbeaux)
07/22/2019 at 11:44 • Filed to: None
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"Rainbow" (rainbeaux)
07/22/2019 at 11:44 • Filed to: None | 0
| 9 |
Does anyone else use this app? It lets you trade stocks for free, and that’s honestly about it. I started with $15 and I’m at roughly $24 now, thanks in part to the free bonus I got for signing up. Which brings me to this...... if you use my referral thingy, I get a free share of something and you do too! It’s most likely going to be a cheap one, but there’s a slim chance at a $100+ stock. So... yeah. If you haven’t already signed up, you might as well!
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Oh, anyway.... feel free to use this thread to share tips and stories about investing in general.
If only EssExTee could be so grossly incandescent
> Rainbow
07/22/2019 at 12:02 |
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Robinhood has been getting some flak about being predatory like mobile games, except with real-world financial consequences. That confetti that falls across your screen when you buy a stock? That’s a tactic to get you hooked on making transactions constantly instead of holding onto stocks. They then make their money by selling those stocks back to shady brokerage firms that specialize in high frequency transactions. They make money by turning stock trading into gambling.
KingT- 60% of the time, it works every time
> Rainbow
07/22/2019 at 12:05 |
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Been using Robinhood since Jan 2018 to play around with some extra cash <$1000. I’ve had mixed results as my portfolio has done just slightly above S&P 500 performance , but then again I am a buy and hold long term kinda guy even when I have stuff to experiment with. I have only sold 2 stocks in the last 18 months. Most are bluechip companies, some smaller software and service companies, a few recent IPOs, and a few Cannabis stocks but they fluctuate wildly.
I made 2 referrals and one was Cheasapeake energy which was a shit stock I sold, other one was Zynga which I already had some and I have kept. My referrals got Sprint and Snapchat.
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Rainbow
> If only EssExTee could be so grossly incandescent
07/22/2019 at 12:19 |
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Huh, that does make sense. I've been pretty good with holding onto mine long-term, though.
CaptDale - is secretly British
> Rainbow
07/22/2019 at 12:19 |
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I have it. bought 3 stocks 6 months ago and have done nothing after that XD
E90M3
> KingT- 60% of the time, it works every time
07/22/2019 at 12:25 |
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I’ve got some SLB stock from my time with them and it’s been shit the past few years. Kind of hoping the whole sector rebounds enough where I can offload it for not too much of a loss.
diplodicus forgot his password
> Rainbow
07/22/2019 at 13:53 |
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I’ll probably sound like a crazy conspiracy theorist, but I don’t trust anyone/anything that tells me they can make me money for free. Or anything free for that matter. I don’t buy warranties either.
TorqueToYield
> Rainbow
07/22/2019 at 15:43 |
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If you get serious about investing I’d take a look at a real brokerage account. I’ve had an e-trade account forever. It’s 8$ a trade, but honestly if you’re not buying or selling like crazy the few bucks a trade is not a large price to pay. You also get access to research materials, an FDIC insured account, etc.
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Rainbow
> TorqueToYield
07/23/2019 at 06:56 |
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When I have enough money to do that, I will. Really, the most I could invest right now would be like 50 bucks.
bhtooefr
> Rainbow
07/24/2019 at 00:55 |
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So, how Robinhood claims to make money is off of the interest on cash balances in your account.
How they actually make money is... Robinhood order execution is notoriously poor, because it appears they’re selling order flows to high frequency traders, wh o may front-run your transactions. This means that limit sells may need to be slightly lower, and limit buys may need to be slightly higher, to actually be executed, especially for transactions with little liquidity. If you’re trading something with lots of liquidity, though, you probably won’t notice much.
And, of course, if you’re using a buy-and-hold strategy, Robinhood doesn’t have a chance to do any of that to you except on the initial buy, and a later sell . (All they can do is loan your shares to short sellers if you’re using margin, which all of the “real” stock brokers do too.) But then, a buy-and-hold strategy also dulls the impact of most brokers’ commissions.
Personally, I use Robinhood. If my net worth had a few more zeroes in it, I’d probably use someone like Interactive Brokers for trading instead (I’ve read good things, and it seems like their fee structure works decently if you’re a bigger trader), but eh.