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Message
Started a Robinhood account. What now?
Posted on 5/3/23 at 8:53 pm
Posted on 5/3/23 at 8:53 pm
I’ve lurked this board forever. Now I’d like to jump in. Where do I find which sticks to buy and when to buy/sell?
Point me in the right direction Money Talk!
Point me in the right direction Money Talk!
16
Posted on 5/3/23 at 9:04 pm to MelGibsonPatriotGif
Actual advice:
Step 1. Take it out of Robinhood and move it somewhere else.
Step 2. Buy total stock market and S&P 500 ETFs
Step 3. Keep putting money in
Advice for Investing as a hobby:
Learn to how to read financial statements. Learn how to value stocks. Watch the stock for a period of time before ever investing to understand what the market is looking at. Stick with blue chips at first. Don’t put in more than you’re willing to lose.
Step 1. Take it out of Robinhood and move it somewhere else.
Step 2. Buy total stock market and S&P 500 ETFs
Step 3. Keep putting money in
Advice for Investing as a hobby:
Learn to how to read financial statements. Learn how to value stocks. Watch the stock for a period of time before ever investing to understand what the market is looking at. Stick with blue chips at first. Don’t put in more than you’re willing to lose.
This post was edited on 5/3/23 at 9:37 pm
Posted on 5/3/23 at 9:06 pm to MelGibsonPatriotGif
quote:
I’ve lurked this board forever. Now I’d like to jump in. Where do I find which sticks to buy and when to buy/sell?
Point me in the right direction Money Talk!
Wander around your yard, pick up a few fancy looking sticks, maybe twirl them around all fancy like, and then start consistently investing in some nice, broad, low fee index funds/ETFs.
Posted on 5/3/23 at 9:07 pm to MelGibsonPatriotGif
You will lose and when stuff hits the fan again, Robinhood will limit your account and trades.
Robinhood is no different than Draftkings, BetMGM, or Fanduel.
Robinhood is no different than Draftkings, BetMGM, or Fanduel.
Posted on 5/3/23 at 9:13 pm to MelGibsonPatriotGif
quote:
Started a Robinhood account. What now?
Delete it
Posted on 5/3/23 at 9:25 pm to MrSpock
Robin Hood was good when others were charging per trade. But now basically they all are free so don’t use it
Posted on 5/3/23 at 9:46 pm to MelGibsonPatriotGif
People aren't being jack asses. Robinhood got into major shite awhile back. Froze accounts and halted trades.
I recommend using another brokerage. Ill get shite but Vanguard is very user friendly and easy to learn.
I recommend using another brokerage. Ill get shite but Vanguard is very user friendly and easy to learn.
Posted on 5/3/23 at 10:38 pm to MelGibsonPatriotGif
Invest it all in ZOM
Posted on 5/3/23 at 11:43 pm to MelGibsonPatriotGif
I use Robinhood. They have a good app interface for iPhone. They also pay a good amount of interest on money in your account. Don’t listen to all the Schwab and TD dinosaur traders in here. RH is fine for investing, particularly for beginners.
Pick some stocks you like and set some limit orders. You go to buy, trade, then select limit order and put an amount you want to buy at that is lower than current price. Index etfs are good for setting up recurring buys but have some fun with a few individual stocks too. Educate yourself but it’s a learning process. Plenty of good books out there.
Pick some stocks you like and set some limit orders. You go to buy, trade, then select limit order and put an amount you want to buy at that is lower than current price. Index etfs are good for setting up recurring buys but have some fun with a few individual stocks too. Educate yourself but it’s a learning process. Plenty of good books out there.
This post was edited on 5/3/23 at 11:44 pm
Posted on 5/4/23 at 4:23 am to MelGibsonPatriotGif
Don’t use Robinhood. Plenty of other options out there that won’t freeze your account, block transfers/withdrawals or not let you purchase certain stocks for your supposed ‘well being’.
Posted on 5/4/23 at 6:12 am to MelGibsonPatriotGif
My primary brokerage account is on Schwab but I can’t help but to screw around on RH. The interface sucks me in. Trading options and crypto on there with fun money is a vice of mine. I treat it like my ultra high beta fund.
Also, to RH’s credit there are things you can do on there that I still don’t believe are available on Schwab. The recurring investment scheduler is cool.
Also, to RH’s credit there are things you can do on there that I still don’t believe are available on Schwab. The recurring investment scheduler is cool.
This post was edited on 5/4/23 at 6:20 am
Posted on 5/4/23 at 7:33 am to MelGibsonPatriotGif
Next? Close it.
Open a Fidelity instead.
They never turned off the buy button during the meme short squeeze, but robbing da hood did.
Open a Fidelity instead.
They never turned off the buy button during the meme short squeeze, but robbing da hood did.
Posted on 5/4/23 at 2:18 pm to MelGibsonPatriotGif
Do what I did...
- Open a Robinhood account
- Buy crypto & listen to AT on stock picks
- Make a little money then lose all gains and then some. Realize it was a scam / pump and dump / your the bag holder, all those phrases.
- Realize you can't open a Roth account with Robinhood (This might have changed)
- Realize Robinhood sucks and listen to smarter members of the board advising an established trading platform like Fidelity, Schwab, etc.
- Pour through smarter long term investing books & videos to gain more knowledge about what you want to invest in and your actual goals.
- Invest money into index funds or ETF's like myself (VOO, SCHD, QQQ, etc.)
- Look back and realize you made a stupid mistake but learned from get rich quick crap that hardly if ever works. Dollar cost averaging into low cost index funds and ETF's while reinvesting dividends is the boring/best way to go for MOST people.
- Open a Robinhood account
- Buy crypto & listen to AT on stock picks
- Make a little money then lose all gains and then some. Realize it was a scam / pump and dump / your the bag holder, all those phrases.
- Realize you can't open a Roth account with Robinhood (This might have changed)
- Realize Robinhood sucks and listen to smarter members of the board advising an established trading platform like Fidelity, Schwab, etc.
- Pour through smarter long term investing books & videos to gain more knowledge about what you want to invest in and your actual goals.
- Invest money into index funds or ETF's like myself (VOO, SCHD, QQQ, etc.)
- Look back and realize you made a stupid mistake but learned from get rich quick crap that hardly if ever works. Dollar cost averaging into low cost index funds and ETF's while reinvesting dividends is the boring/best way to go for MOST people.
This post was edited on 5/4/23 at 2:21 pm
Posted on 5/4/23 at 7:15 pm to Drizzt
quote:
Don’t listen to all the Schwab and TD dinosaur traders in here.
Honest question here: what exactly does Robinhood offer that exceeds or even compares to TDA’s Think or Swim, Schwab’s StreetSmart Edge, Interactive Brokers IBKR GlobalTrader or Merrill Lynch’s Edge platform?
Like I said, honest question. I’ve never used Robinhood. My general impression from reading various articles about it is that it’s more for beginners (though nothing wrong with that) and those who enjoy the way they gameify investing and trading. But when people claim that the above platforms are for the “boomer” or “dinosaur” class, I’m aware that serious pro and semi-pro traders gravitate toward those platforms. But hey, to each his own. I just continue to use what’s proven to make money for me.
Posted on 5/5/23 at 7:54 am to MelGibsonPatriotGif
Close it. Robinhood sucks
Posted on 5/5/23 at 7:59 am to Jag_Warrior
The trading hours are limited on robinhood. Webull has the lowest fees and the best hours. I can trade 3am-7pm.
I referred a friend last week and we each got 3 shares of Apple. If anyone wants to use the referral code I’ll paste it here for you.
LINK
I referred a friend last week and we each got 3 shares of Apple. If anyone wants to use the referral code I’ll paste it here for you.
LINK
Posted on 5/5/23 at 2:22 pm to MelGibsonPatriotGif
Practice a lot paper trading.
Stick to solid ETF's that are beaten down now and let them do their work.
Picked up mostly financial ETF's back in 2009 and 2010. They doubled in value over the next year.
I'm happy with Etrade. Simple clear, intuitive interface.
Stick to solid ETF's that are beaten down now and let them do their work.
Picked up mostly financial ETF's back in 2009 and 2010. They doubled in value over the next year.
I'm happy with Etrade. Simple clear, intuitive interface.
This post was edited on 5/5/23 at 2:28 pm
Posted on 5/5/23 at 2:54 pm to MelGibsonPatriotGif
reddit.com/r/wallstreetbets
ETA: Strictly for the lulz. Don't do ANYthing they say.
ETA: Strictly for the lulz. Don't do ANYthing they say.
This post was edited on 5/5/23 at 2:56 pm
Posted on 5/6/23 at 10:19 am to Weagle25
quote:
Step 2. Buy total stock market and S&P 500 ETFs
Step 3. Keep putting money in
But he can do this on robinhood.
personally i like robinhood better for purchasing one off stocks than say vanguard. Vanguard always seems to have more steps and clicks to jump through to purchase stocks.
Posted on 5/6/23 at 10:42 am to MelGibsonPatriotGif
I use TD for long term investing, Robinhood for short term.
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