Watch out wall street! Just got a Robinhood account.
DNADave
Posts: 7,271 ✭✭✭✭✭
I just set up a Robinhood account with the help of my baby boy.
I’m way out of my comfort zone there. Maybe I’ll buy some paper silver and gold !
Ok now how do you do that?
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Precious Metal ETFs
Mining ETFs
Note Robinhood's early and late trading hours. On the website just search trading hours.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
They just stopped carrying many of the funds I typically hold. Looking to transfer my account to Schwab.
mutual funds?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
We’re currently in the process of phasing out certain types of securities on Robinhood. Starting on January 11, 2021, you’ll no longer be able to buy closed-end funds, limited partnerships, royalty trusts, tracking stocks, New York registry shares, and units. If you own any of these types of securities, please note that you’ll still be able to sell what you own at any time.
nothing like restrictions!
look for another commissionless broker that's not named robinhood
simplified trading for simple minds. Fits my mind to a T.
If one needs more trading options than the stocks, ETFs or cryptos offered by RH, then one needs a high dollar broker. RH is a brilliant concept (not just another online broker) and is designed to serve simpler minds with a product Wall St. failed to provide in all of its years of existence. RH has brought investing to a whole new group of otherwise "not interested" players. I'm sure it will help ruin the finances of many a young gambler, buy it offers easy market access and potential rewards to those who do their homework.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Robinhood provides a basic service with some extended market hours.
Webull provides many tools, including a scanner. They also have a PC based application. 1.99 a month for Level 2, I used my Google Rewards to pay for that.
Neither support OTC or Pink Sheets.
Etrade supports most markets, like TD Ameritrade they charge for OTC.
If you have a retirement account, you may have access that you are not aware of. For example, Fidelity allows me to use my 401k, or set up additional personal accounts,
and trade OTC with no fees.
I believe RH is the only one that offers 24/7/365 trading in their limited selection of seven cryptos with no daytrading limits. Paypal is offering limited trading in bitcoin and ethereum with high fees and account limits. There are no crypto ETFs available yet through any broker.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Here’s what some professionals use like Charles Netter (I think). Expensive but if you trade paper commodities then this is as good as slv or gld. There’s so many flaws in the infrastructure and security from an architect prospective.
https://finance.yahoo.com/quote/GBTC/
I’m curious... what are you actually buying out of those generic types?
I love Robinhood for allowing daily dollar cost averaging with their auto investments and the fractional shares!
These were a few on my list that I can no longer buy, just sell. Have not bought much in the last 6 months as cost average was too high.
ACV
EOD
ERC
EAD
PHK
CBH
AIO
ACV is one of my favorite dividend payers, average cost of just $20.03. Raking in 180$ a month plus the massive special dividend issued last month of 37¢ a share. This has been my largest holding percentage wise for the past 2 years now.
Schwab is execellet
I give away money. I collect money.
I don’t love money . I do love the Lord God.
So I bought a half of a share of PLUG (picked it up right at the top and lost $5 right away).
And 0.2 shares of alibaba. Wish I hadn’t done that though as I’m not really in favor of buying anything Chinese.
I’ll be staying in the shallow end of this pool for a while. Maybe 50-100 a month or less.
Congrats! I’ve been using Robinhood about 2 years now. My portfolio is up about 55% in that time.
If you have any questions let me know
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Also to buy paper silver buy SLV
To buy paper gold buy GLD
Sure you don’t get actual metals but it’s only meant to profit off the change in price. Not to keep it physically.
Now you're up!
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Nothing wrong at all with paper metals as long as you have the means to exit them quickly. RH provides that means.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
The stock market as a whole.
Anyone buy GME?! Lol
If you did, might want to sell now before the bagholders bloodbath
They finally allowed me to link my bank account after a year of trying. May deposit some funds and buy some of that papergold. GDLCK!
The whole worlds off its rocker, buy Gold™.
It would be really cool if @DNADave actually bought some GameStop (GME) when he opened up his account. That would be an epic story on the forum.
Does anyone know if the Reddit group takes requests?😁
Robinhood has just changed the rules - only allowing accounts to sell the likes of GME, AMC and not buy. So much for free markets.
I suspect their servers can't handle the massive daytrading volume on very volatile equities. better to shut down the culprit(s) rather than the whole trading platform. Unlike an exchange halting all trading on a specific issue, at least holders were able to exit positions.
Crypto trading on RH was affected by the overload for a short time.
Excerpt of RH's email to account holders on the matter:
"This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity. As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today. To be clear, this decision was not made on the direction of any market maker we route to or other market participants."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
derry I hope you don't believe that BS.
Who me? after a good run up with bitcoin, then ethereum and then last night with doggy, I've cashed in. Tripled my bets in less than a month. Now to get it out of RH's hands (which may eventually prove to be tricky), $50K per trading day limit on transfers back to the bank.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Alas no. I wish I did. I did want to buy some dogecoin but it’s not allowed I. West Virginia
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Question is do they allow you to buy or sell more than 1 share a day? lol
The whole worlds off its rocker, buy Gold™.
Only the Sheriff of Nottingham knows for sure.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Any alternatives to robinhood? I dont feel comfortable using them after they blatantly attempted to manipulate Gamestop
Disagree they attempted to manipulate GME. Like other brokers they had to take steps to protect themselves from the volatility. The fact that they had to do emergency borrowing to stay alive confirms this. No different from the exchange halting trading on a particular issue, just on a smaller scale.
My only concern with RH is how close this puts them to freezing everything (including my pending cash withdrawal) and going bankrupt. The GME episode took its toll on more than just hedge funds.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
A flood is a flood, whether in a slot canyon or in the TP aisle.. or a run on a bank, or whatever.
GL profiteers! 🥂🍻
Liberty: Parent of Science & Industry
I bought some SLV too! By the way, if you want to sign up for robinhood use the link in my signature! We both would get a free stock
So, I wonder if any enterprising hedge fund starting shorting GME when it was over $400? That’s a license to print money.