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Has anybody here used Robinhood (https://www.robinhood.com) yet? I just got an email telling me I will finally be getting my invite within the next 24 hours. I've never actually done real stock trading before as I was always at a point where I didn't feel like I had enough to put into it where the fees wouldn't kill me. This is changing though. Robinhood offers $0 trades. I was wondering if anybody could offer advice about the platform and what I should watch out for. I am aware I know nothing and jumping in and trying to day trade would be stupid even with $0 fees. I plan to do a lot of research and start out very small with longer term investments. I am really just looking for insight into Robinhood as $0 fees sounds to good to be true, but I have seen a lot of (circle jerk) tech articles say it's the next big thing and they have some pretty big silicon valley types backing them. Whether that means they can pull this off in the financial world I have no clue.
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Dec 11, 2014 05:23
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Guinness posted:I think it's OPEC putting the screws to Russia and Putin more than anybody, and if the North American shale oil is slowed down as a side effect then it's a small bonus. As somebody pointed out, there are a lot of small fly-by-night type operations in shale. It probably wouldn't hurt the big boys one bit for a few years of depressed prices so they can buy up and clear out (let fail) the smaller operations. It's not like we would just give up on shale and when prices bounce back there they will be with that many more wells/assets obtained at low price. Anecdotal, but I grew up in a small Texas town (5k) that had 50k back in the early 20th century when oil was first discovered there. I've seen the oil operations in town expand and contract depending on the price of oil over the years and it's amazing how quickly it happens. I would bet this is more to hurt Russia and any impact on American production is just a bonus.
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Dec 12, 2014 00:10
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I have a beginner question. I got a Robinhood account so I am making some small trades (less than $100 in my account total) just to play around and get my feet wet as I do more research and learn about stock trading. One thing I see is that I need to avoid being labeled a pattern-day trader. Is my understanding correct that for the rolling-basis day trade limit, a trade only counts towards that limit if it was opened and closed in the same business day? So if I bought 50 different stocks today, as long as I held them overnight I could sell off all 50 different stocks tomorrow and it would not count towards the rolling-basis day trade limit since I held them overnight? I don't even know if I am using the correct terms. Hope this makes sense... D-Pad fucked around with this message at 15:20 on Apr 10, 2015 |
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Apr 10, 2015 15:17
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Well I didn't want an Apple Watch before, but the ability to buy and sell stocks with $0 commissions on my watch? We truly are living in the future. http://blog.robinhood.com/
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Apr 25, 2015 07:14
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So I am looking to do the virtual trading to practice trading options. The Market Watch game linked in the OP doesn't appear to have options unless I am missing something. Can anybody suggest a good option virtual game app/site I can gently caress around on?
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Jun 11, 2020 06:44
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Woodchip posted:I HTZ my self today Hell yeah
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Jun 12, 2020 15:13
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Tremek posted:All great feedback and advice from where I sit. I’m doing this out of a cash account that still has a 1x day trading limit which for better or for worse makes me think about where I want to use the cash, and if I do a bad buy and sell intraday, that’s on me but I’m sure as poo poo not playing with margin or naked anything. Can you post a bit about why you broke your rule and made that bet? What did you see that made you think Thursday was going to be what it was?
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Jun 13, 2020 20:31
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Watch the robintrack website in the morning as some random no name shoots up with RH users piling in slightly behind price gains and then holding the bag when it tanks immediately after. Robintrack only updates hourly. Is that a restriction of the RH API or could you take that code and modify it to give you 1-5 min updates? If you could see the RH users piling in when it starts there would probably be some money to be made.
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Jun 14, 2020 04:19
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Tremek posted:I had been watching the approximate centers of many options (more or less max-pain theory whether right or wrong...) being significantly lower on 6/19 for a while now - at least since the beginning of May. I'm still learning so sorry if these are dumb questions. By center what exactly do you mean? Is it the option price that has the highest interest and it being lower than the current pricing indicates a lot of people are betting on a drop? Does that mean you didn't know that the market would drop specifically on Thursday you just expected it to sometime before 6/19 and it just happened to be the day after you entered the position?
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Jun 14, 2020 06:00
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Tremek posted:Yes more or less. The 6/19 difference was substantial and I didn’t expect it to drop that far in a single day, and for as overheated as some of these ridiculous stocks have been (ATH on AMZN NVDA AAPL LULU etc and then looking at jokers like CACC HTZ with wild swings) my gut was saying if we’re going to see any tanking it’s starting soon. How are you measuring that interest? Are you looking at the option strike price with the highest volume? What exactly is the indicator there? Thanks for answering these! Edit: Also, if you are expecting a market drop like that is it best to buy SPY puts? What about something like calls on SQQQ or SPXU or SDOW? D-Pad fucked around with this message at 07:49 on Jun 14, 2020 |
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Jun 14, 2020 07:43
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I am confused how a young 20 something got that much margin. From what I can tell RH limits how much you get based on your account value. Maybe if he kept making YOLO bets that paid off increasing his stake every time until he had a ridiculous amount of profit and thus margin? I also don't buy at all he didn't know he was trading on margin, RH makes it pretty obvious. That guys tweets make it sound like he knew what margin was but didn't know he was using it. That makes no sense he would have had to not know what it was at all because RH shows your margin and how much you are using all over the app. More likely the dude knew exactly what he was doing the whole time and made out on his note like he didn't because he knew how stupid what he did was and felt ashamed. There was a post on WSB this weekend that was very similar from a guy saying he had lost his family's entire life savings and was going to kill himself. These are people with a gambling addiction that was waiting in the wings the whole time, but had probably never bet sports or just didn't have access to any kind of leverage to do it. They quarantined and found memes on reddit and went and tried trading and it kicked in and next thing they know they've blown every penny. I can only imagine the adrenaline from making a bet that big with every penny you had plus more margin with an unbelievable upside and an even worse downside.
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Jun 15, 2020 01:08
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jokes posted:I don’t know what happened to this dude but selling options is a motherfucker and I (continue to) believe that it shouldn’t be available to people without significant caveats and, like, proof that they know what they’re doing. Newb question, but as long as you are only buying calls/puts and not selling the max you can lose is what you paid for the contract when/if it expires worthless right? So maybe the cutoff should be imposing restrictions on anybody that wants to sell calls/puts. RH was pretty clear as I was messing around with its options options the difference between buying and selling options as far as the risk goes. These stories you see are idiots of the type that shouldn't be allowed to touch anything dangerous ever, not just options.
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Jun 15, 2020 04:33
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Ok one last question for the night about RH options trading. They state:quote:What happens at expiration when my stock is near or above the strike price? Who is buying that call option in the money a few hours before market close on expiration day? I am assuming someone who wants to exercise it, but what is the advantage for the person who buys it to exercise it if the option is generally already worth as much as the stock at the stated stock price and immediately selling it on the market? Wouldn't that mean they break even? Here is why I am asking: I have a couple hundred bucks in RH just to learn and don't care if I lose every bit of it. I know if do decide I want to trade options I should only buy calls/puts never sell so I can't lose more than the contract price expiring worthless. Let's say I buy a call and the stock takes off. I am in a position where I wouldn't be able to exercise it myself because I don't have the buying power. Normally, I would just close the position as soon as I see a little profit, but if I did actually believe the price is going to continue to rise through the expiration date I assume I would want to hold it (I know, take profits but this is hypothetical) to get maximum gains. So RH says its going to sell that option for me a few hours before market close since I don't have the buying power. This is what I don't understand, why would someone buy it in that situation? Is it possible to have a option that would be worth a ton if you could exercise it, but nobody is going to buy it right at the end (even though it's in the money) meaning it expires worthless? In other words, can you get screwed holding an in the money option too long because you don't have the buying power to exercise?
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Jun 15, 2020 05:14
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That makes sense, but Robinhood is saying right there if you don't have the buying power they automatically sell the option for you. So in that situation where it is a couple of hours to expiration would there actually be buyers for an in the money option? If so, what is their advantage to doing so?
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Jun 15, 2020 06:18
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WSB is talking about the 700k kid. The top comment is this, which if true is really hosed up because it would mean he killed himself over nothing:quote:Saw this article earlier and thought to myself that this kid might have had the short legs on some spreads get exercised. Robinhood will show a negative balance for the shares used to fulfill your obligation on shorts even though your long legs have you hedged to define your risk. I’ve had some weekends where it looks like I’m negative tens of thousands of dollars only to have lost a couple hundred. My heart sunk at the thought someone might have killed them selves over robinhood’s lovely over the weekend net liquidity calculation. But at the same time I wouldn’t be surprised if he actually managed to owe that much to robinhood. Stranger things have happened with that lovely broker. RIP kid, my thoughts and prayers go out to your family and friends.
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Jun 15, 2020 07:14
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LibCrusher posted:Finally got a RH account for loving around with options. 21aug DKNG 30p Are you thinking by then it will be obvious no sports this fall and their stock tanks?
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Jun 15, 2020 20:24
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Sepist posted:FanDuel, their largest and (arguably) only competitor just had the first NFL team sign on to to the sportsbook, and the DraftKing stock only went up. No way you see DK lose 25% of it's value. But what happens when there are no sports this fall due to covid? Do they have any other ways to generate revenue?
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Jun 15, 2020 20:29
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Sepist posted:E-sports, MMA, golf? We are in the middle of Baseball season already and it isn't happening. Basketball season starts after football, which is supposed to start preseason the 2nd week of August. Covid cases are going up in many areas and there will be major resistance from people to go back into lockdown so it's only going to get worse. I have no doubt DK can figure some cash flows out with something like MMA or Golf, but their big money maker is football and I think there is a decent chance it doesn't happen this year. Who really knows, but I don't think it is a bad bet at all.
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Jun 15, 2020 21:39
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Josh Lyman posted:What if golf ratings go through the roof and we discover that NBA and NFL tv ratings aren’t because they’re more popular but because people bet on them more? What if sports ratings/bettings never goes back to pre-covid highs because all the degenerate gamblers discovered RH and WSB is a much more exciting form of gambling.
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Jun 15, 2020 21:44
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maffew buildings posted:Dowhammer 40K, Imperium Of Winning Bigly across the dtars Bull markets are now Khorne markets. Nurgle is bear. Volatility is Tzeentch. Slaneesh is bubbles? Robinhood traders are the Tau. New upstarts who have no idea what they've gotten themselves into. Fed is mechanicus. Hedge funds are various SM chapters. You could really run with this analogy. D-Pad fucked around with this message at 04:41 on Jun 16, 2020 |
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Jun 16, 2020 04:38
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Is there a paper money app that will let you "replay" the day? I have a lot of time at night and would like to gently caress around with simulation to learn etc, but markets are closed. I have much less time during the day. Does anybody know of one that would basically let me hit play at any point in a prior day and gently caress around?
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Jun 16, 2020 06:15
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jokes posted:It wouldn't really, ya know, be effective in any way as far as training or anything goes unless it was picked completely at random. What's wrong with just trading a paper account live? Found it. ToS has an ondemand option that lets you go back all the way to 2009 with paper money and backtest. My reasoning is I don't have time during the day to put much time in, and I need to put some serious time in to learn what the hell I am doing before I start with real money. Hell I can barely use the app at this point this poo poo is so complicated for a newbie. I don't see how it wouldn't be effective training as long as I'm not looking up what actually happened that day and "cheating". What would be the point? I am talking like setting the date to June 1st at 10am, a day I have no idea what happened on, hitting play and then trading. I have maybe 30 minutes max to paper trade during the actual day but I have hours at night.
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Jun 16, 2020 06:52
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The Butcher posted:Even if you managed to avoid seeing the chart, you'd basically need to ignore all major news (not just market related, like ALL big news) for the day or you'll already have bias built into your predictions on how the day would go. I'd pick a day a couple of weeks back. I can't remember what specific news items are what day and while I may know the general trend of the market that isn't what I am trying to learn. I would like to learn more about day/pattern trading so I would just figure out a few stocks that had a lot of action that day then hit play and see what I can do.
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Jun 16, 2020 19:37
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TSLA's stock makes no sense, but beyond all the dumb poo poo Musk pulls in the public sphere the guy has a proven track record going back to the 90s. SpaceX and Tesla were both things that nobody believed he could pull off, especially SpaceX. Even if his only talent is hiring the right people he is extremely loving good at it. Hate on him all you want (and I do too), but when those two boosters landed simultaneously a couple of years ago I became a believer. Again, it doesn't justify the current price, but I seriously doubt the NKLA dude has the same ability and Tesla's semi will probably crush them. They also just aren't going to have the cool factor that Tesla enjoys in the consumer space. Almost everybody I know 40 and younger wants a Tesla and it's been one of the first buys for a lot of others as soon as they had some success. On top of that, the major car companies are way behind the curve on their electric tech and aren't making up much ground. I still shorted Tesla when it hit $1k because lol
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Jun 17, 2020 02:30
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Ross from WT uses Lightspeed for his trading, Trade Ideas for his scanner, and something else I forget for his charts. I've been watching him a lot lately and I really don't think he is getting much, if any, boost from his people following his trades. As others have said, he trades super fast, often he will be into and out of a position in a shorter amount of time than the lag of his chat. I went ahead and signed up for one month of his chat last night when it was 30% off. For someone new like me, that isn't even close to touching a live account for PDT, it is actually super helpful to watch how he does things and what his thought process is for what stocks he chooses and why he gets in and out of trades when he does. I am learning a lot, although I am not sure I will ever attempt to trade like he does. I seriously doubt I will ever sign up for his actual class program. His classes are super expensive, but you can find a lot of info on his site if you poke around a bit. He has a free webinar today at 1 EST and if you watch the whole 1-2 hours he gives you his day trading book for free which from some reviews I have seen around the web is pretty much everything he teaches in the class. I'd suggest you sign up even if you don't want to watch the webinar and just mute the video until he gives out the book if you are interested in his methods. He seems to be one of the few PDT educators that isn't a complete scam. From what I have found very few of them actually trade live and allow you to see if they are actually making the profits they claim etc. He's certainly doing everything he can to push people to his class and I don't think he is some paragon of virtue, but he does seem genuinely interested in teaching people and not just taking their money. I've poked around a lot looking for reviews of his classes that don't seem to be fake setups to get you to buy. In general, people are happy with it but they almost all say it is too expensive and its better to just get his book for free and then watch his daily picks pre-market and then do your own thing.
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Jun 17, 2020 16:29
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Rime posted:Basically crossing a hard dollar threshold triggers algorithms which pump it a little bit further, so he scalps the momentum as fast as possible. He is also pretty consistent in the stocks he picks to trade always being the small cap stocks that go crazy that day. There's always a handful it seems and his system for picking is pretty successful so he is always betting on a big overall upward trend for the first hour or so of trade. This is where he may be benefitting off his followers. His individual trades may be too fast to follow, but if enough people decide to trade his picks he is going to get the upward trend he trades on. I imagine a ton of people watch his picks and trade them daily that aren't in his chat or courses.
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Jun 17, 2020 16:51
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VelociBacon posted:This comes up every page or so in this thread and I always have to disagree. If a stock is trading say 0.5-2M shares per minute and he has even 15k people watching him trade (which is I think way more than he actually does), and even if 100% of those people are actively trading trying to follow him in on trades or just trade the same equity, it's still really not making up enough of an amount. That isn't what I am saying. I think you are right on people following him into trades. I am saying a lot more people probably follow his picks for the day than are on his chat. He picks small cap stocks with big gaps and extremely low floats. If 20k people decide to trade that stock in the first 30 minutes because he picked it I would think that it it gives it a better than average chance it's going to go up in that time and his strategy is to trade breakouts. He's generating interest and volatility in a stock at open and then uses his system to do its thing. His system doesn't require people to follow his individual trades but *maybe* it does benefit from generating general interest in trading the stocks he is trading.
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Jun 17, 2020 17:05
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karoshi posted:Holding /MES at $3098, you're welcome bears. Watched/listened to the webinar: it was 70% marketing 101 "limited slots available! Call now to buy!" and the rest was very much what you can find on his YouTube channel. I don't doubt his trading abilities, but it sounds like a loving cult of Ross. Disclaimer: I'm not American, don't watch TV and use an ad-blocker so I'm very much sensitized to marketing terror technologies. Yah I was disappointed in the webinar, but I got his book which was all I was after. It's got some good information in it. I wouldn't take his course though, seems like the book covers most of it.
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Jun 17, 2020 22:43
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I wouldn't be surprised if he had bots acting like they were purchasing to help drive people into it. He obviously does it with his reviews.
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Jun 18, 2020 00:01
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Splinter posted:I got +20% out of ACTTW today. Looks like it is still climbing, but I'm out for now. It was posted on WSB yesterday too with about as much attention as the first OPES post from last week (not a VTIQ or HTZ level of meme by any means). How do you find SPAC stocks specifically? Is there like a list somewhere by type of stock/company?
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Jun 18, 2020 20:16
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fougera posted:Some eastern european mob is behind it, and supposedly thugs have threatened short sellers in Europe (where regulations allow people to track them down). Holy poo poo this WireCard rabbit hole goes deep and it's amazing. So apparently there have been people trying to expose this for a long time who have had criminal investigations opened against them. This twitter thread does a good job of compiling all the people who worked to expose it and then a huge list of people and companies that perpetuated it: https://twitter.com/DonutShorts/status/1273690362608078848?s=20 And here is the thread reader version: https://threadreaderapp.com/thread/1273690362608078848.html But that tweet led me here: https://ffj-online.org/ As you can see as you scroll down they've been covering it since last year and are very good. This led me to this loving wild ride, buckle up: https://ffj-online.org/2019/11/04/fraser-perring-chronicles-of-deceit-part-one/ In which it is revealed the Eastern European mob thing fougera posts about above was made up by this scam artist who has a long history of involvement in the effort to expose WireCard and his story is insane. (Edit: or at least I assume this is what fougera is referencing since this dude claimed he was kidnapped and threatened by Eastern Europeans but it was just another of his lies. This poo poo is certainly crazy enough that the mob could be involved). This is like the German Enron D-Pad fucked around with this message at 07:14 on Jun 19, 2020 |
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Jun 19, 2020 07:10
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VelociBacon posted:If you're looking for something to watch, here are a bunch of equities $1-20, relatively small cap, good volumes that have gapped up at minimum ~12%: What are you using for your scanner?
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Jun 19, 2020 15:12
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Anybody else using webull? I put $100 in a cash account so I can practice day trading with just a couple shares of small cap stocks each. No big risk and I am learning a lot. I really like the software, app and desktop. I've only done paper trades on ToS but it seems to be just as good for what I've done so far. I like the layout/setup better than ToS and it seems to trade fast too. They've also got paper trading if anybody is interested you can download it and mess around.
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Jun 19, 2020 16:23
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Notorious R.I.M. posted:An uncontrolled explosion of cases mean that everyone gets infected soon and we go back to business as usual by August instead of dragging this out until a vaccine comes. Very bullish! Long indexes, short healthcare since treating covid isn't profitable. The time frame would be longer than August, but yeah if cases surge and people refuse to go into lockdown there will be a hell of an opportunity to buy a bunch of great stocks at a steep discount and ride it back up over the next few years I would imagine.
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Jun 19, 2020 18:49
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Kal Torak posted:Initially I thought he traded too fast for his followers to make a difference, but after watching him a little bit today, I am convinced his followers do help him out a lot. He's always right. Every dip buy, every add...it's the correct move 100% of the time. I think his followers have a lot to do with that. Inner Light posted:I'm not convinced of this. I think it's a little of both. He has a great strategy and he correctly calls breakouts. His followers make those breakouts bigger. Like someone said above if you go back on his YouTube history the dude was consistently making money day in and day out with his strategy, but for a lot less per day when he had way less followers. As his popularity grew the amounts went up. His strategy is good and profitable, but now that he has a lot of eyes on his picks for the day and in his chat it is better. In other words his success is not solely because of people following him. I have watched a lot of his live trading and he does make wrong calls and loses on trades and he even has the occasional red day. He also does have a lot of trades where he is in and out faster than the 10-15 second lag time on his stream so it cannot all be attributed to his followers. His strategy is pretty simple: 1. Identify small cap stocks with low float that are going to have a ton of volume and volatility in the first two hours of trading 2. Correctly call the breakouts and have a well defined risk management with good entries and exits. 3. Have an advantage in speed by having the right broker and hot keys. That's it. That's all he is doing. #1 and #3 are pretty simple, he even live streams his picks from #1 every morning so you don't even have to setup a scanner. #2 is significantly harder, but by identifying stocks that are going to have relatively less algo trading (small cap) and a lot of day trader's on them it does seem to make the technical analysis more likely to be correct if you know what you are doing. I've been taking his picks in the morning and watching them, but not watching him. Occassionally trading a couple shares and also doing mental buys and sells. I can see how this can be a profitable strategy, but I am not nearly proficient enough to actually try and emulate him. The crazy thing is that dude is making as much if not more on his classes. They are expensive as gently caress and he is generating a gently caress ton of interest off his YouTube channel after the crazy runs he has had this week. The pro level classes are $6k and he has a lot of signups.
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Jun 19, 2020 20:59
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Josh Lyman posted:I only know about him from this thread, but he seems to be trading stocks in the $15/share range though so that's a 1% gain per trade. That's a really substantial move considering his super short holding periods. His scanner finds stocks that have a huge gap in pre-market, have a share price of $2-12 (he rarely trades stocks in the $12-20 range but he does sometime), have low float, and preferably has some kind of news catalyst behind it. These stocks are consistently the ones that have tons of people pile in day trading them in the first two hours so you can watch them make big 1%+ moves. He has a crazy fast broker and hot key setups so he is more effecient with lower slippage than probably 90% of the other day traders playing that stock that day. As long as you have ^those factors all you need to make money is good technical analysis and proper risk management. Easier said than done, but again the attributes these stocks have makes the technical analysis more valid because most of the volume is other day traders doing the same thing, but he is faster.
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Jun 19, 2020 21:09
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deathbagel posted:So, being new to trading, I've been scouring YouTube and other places for as much information as I can find and it seems to me that all of the big trading communities that I've seen (Warrior Trader, Zip Trader, X Trades, Clay Trader, etc...) all seem to watch the same exact stocks. They all watch the big gappers with lots of volume. I think Ross is capitalizing on this and is very good at his entry and exits. I don't think his followers specifically have enough pull to move things, but I do think that the fact that all of YouTube/Discord are all on those same stocks gives him very consistent target stocks every day and he's figured out how to pull money out of their moves. I think you are right and it begs the question why you couldn't just write a trade bot that trades these stocks and is even better at entry and exit than Ross or the others. Just feed it the 2-3 stocks of the day with rigid risk management entries/exits and the indicators for the strategy he trades.
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Jun 19, 2020 23:56
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Josh Lyman posted:No they’re just selling private shares to pump their valuation. No. This went through EquityZen. EquityZen prices the shares at the price of the last round of investing by VCs. So whatever the last RH investing series valued RH at is still the valuation for this deal. Check out EquityZen. If you can qualify as an accredited investor you can get some pretty sweet pre-ipo companies. If your smart about which ones you choose there is some real potential there to make a crazy return.
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Jun 20, 2020 22:32
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Josh Lyman posted:Unless the new shares are being fully diluted, wouldn’t new share issuance at the previous price per share necessarily result in a higher valuation? No, because EquityZen shares are coming from existing shares held by employees or other investors, but it also isn't the same thing as the places where you can buy shares directly from employees/investors. It's a pretty neat model. EquityZen is setting up a fund for each of these offerings comprised of all the individual investors that want to buy in. Minimum investment 10k. So EquityZen puts a listing up and says alright who wants in and for how much? They then take all of that money and put it into a fund then go work directly with the company and existing shareholders to buy a block of existing shares at the last round's valuation. The new EZ investors don't own the stock directly, but each investor is a partner in the fund. If the company does an IPO you get assigned the shares from the fund you "bought". If the company gets acquired you get disbursed based on your investment. It's basically like a late VC round that you can buy into, but instead of the the money going to the company as a result of issuing new shares it is going to current shareholders. Several companies like EquityZen are doing this and it's a response to the trend of companies waiting longer to IPO or getting bought out. I would suggest you go read up on their site about how it works. If you have the money to be an accredited investor I think there are probably some drat good opportunities to buy in pre-ipo to companies that are highly likely to go public and increase in value. I have a question. What happens if you buy a put on a company for a far future date and the company completely goes out of business/bankrupts or whatever? I've seen some rumblings here and there that Nikola may be another Theranos. Basically, the majority of their engineers have never actually seen the fuel cell tech and some of the other technology they supposedly have. It could just be bullshit, but the way the owner responded in this recent situation makes me think there may be something to it. Just like with WireCard, the perpetrators of these schemes react badly to being challenged: https://jalopnik.com/electric-truck-startup-founder-is-mad-online-and-wants-1844072589 If someone bought Jan 21st, 2021 put on NKLA and they get exposed as a Theranos fraud and are still holding and haven't exercised what happens when the company ceases to exist? D-Pad fucked around with this message at 07:22 on Jun 21, 2020 |
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Jun 21, 2020 07:11
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No student loans has caused our balances to go up dramatically. I imagine this is true for a lot of people.
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Jun 22, 2020 01:28
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