You can get some free money if someone on Schwab refers you. The referrer gets nothing, only you get money. https://www.schwab.com/public/schwab/nn/referred-prospect.html
If you're using it for long-term investing, it's fine. If you're actively trading, they're fucking you. Their entry and exit points aren't accurate to the stock's actual price at the time of your limit hits.
Bad price fills You can still make money and I do like their mobile interface, but it stopped making sense when everyone else dropped commissions on trades.
Well I will be looking into another platform after I get out of my current holds. Appreciate the information, I had no idea about this.
You can transfer your current holdings to a new brokerage. No clue how easy or hard it is to do from robinhood though
I'd rather just wait for things to play out. I've been holding most of this stuff for at least a month now. Only 1 I may be looking at getting out of any time soon. I may just open with another brokerage if I see anything else I want to jump into. Pretty happy with my current stocks at the moment
They transfer pretty easily; you just can’t make any moves with your current holds for like 7 business days while they process - which sounds optimal for you anyway
Decent explanation here: https://www.morningstar.com/articles/1015686/robinhood-was-indeed-too-good-to-be-true
Switched from robin hood to td Ameritrade in March. AMA. Yeah, Robin Hood has to make money off you somehow.
But don't listen to me, I'm down thousands today on a market barely moving. When I have a down trading day everyone around me bears the brunt. heh
Did you transfer your positions or cash out of Robinhood? If the former, how? edit- ok, so I found out that I can do it by contacting the new broker and then Robinhood will charge me $75. So new question. Do you like td Ameritrade? My biggest problem with Robinhood is that I can’t get reporting from them about my stonks.
Robin Hood charged me but ameritrade paid the bill. I think TDA was running some $50 special for switching or something. I quit RH in March because twice I wanted to cash out and the app was down. I lost money. RH is a cooler interface, but I’m skeptical of it. They track a lot of data and sell it. I got into options and TOS via TDA is considered the best. RH is easier to search and pay. TDA takes getting used to. All in all, I’d recommend RH for a millennial easy trader, and upgrade to TDA if you’re looking to take trading more seriously.
My biggest problem with RH is that I hold about 100-200 different stocks at any point in time and use excel to track them. I really want an app with a website that exports a .csv file.
Yeah. If I want to liquidate everything, I can withdraw the cash for free but if I want to transfer the stocks to another broker they charge $75. (Per their website.)
Robin Hood picked that up for me when I switched from etrade to RH few years back, and TDA picked that up when I switched from RH to TDA. So shop around for someone that will pay that fee.
Gap down on futures promptly bought up and now looks like we may have enough puts/shorts to resume bull activity up. Playing the long ball this week with eyes on the election resolution on 1/5-1/6. Short week this week. Correction looming within a month IMO.
Think or Swim. Still like RH's interface the best, but they can go bankrupt for all I care. They've outlasted their usefulness.
The answer to this is always when you are comfortable with profit. We are nearing the short-term top, IMO. First potential big selling event is 1/5-1/6 time frame when they resolve the congressional and electoral voting. I am anticipating we go up into that event. Safe play will be to cash out before that. After that the Jan options expiry will be the next date to watch for.
do you guys who follow this see AAPL going much higher in the short term (<1 year)? I bought a nice chunk a couple months ago when it was around 110. I'll probably hold onto some long term but wouldn't mind taking some profits, has really been trending up nicely the last few weeks.
I think BABA will fall more. Not awful to start a position small here if you have a plan. But I'd wait a little and go heavier. I had it before the report and had bought it on support dips - I havent bought since then. Should have cut the position... I will hold my bags and buy on its way back up.
personally I don't see any reason to sell AAPL but I will admit that I sold some of mine to diversify my portfolio which was very very tech heavy
The other thing I’ve noticed about Robinhood is they’ve “gamified” their app so successfully that I spend way to much time just starring at the app without actually doing anything.
If the dems sweep though, wouldn't that create a bull market with the expectation of a giant stimulus plan?
Since you guys mentioned him, Hanks Post: Comments 122920 - Tue, Dec 29th, 2020 -:- 6 : 50 : 47 The major markets rose early on Monday on light volume. The Dow, S&P, and NASDAQ made new highs while small cap issues lagged. The Dow finished with a gain of 204 points, closing at 30,404. The NASDAQ and SPX were up 95 and 32 points, respectively. Volume on the NYSE came in at 83 percent of its10-day average. There were 300 new highs and only 6 new lows. For the past week or so, I have been discussing two scenarios that would define the short-term outlook for the market. In these scenarios, the key level was the 18 December high of 30,304. I said that as long as 30,304 was not broken to the upside, I had to favor the short-term Bearish scenario which would likely lead to an immediate decline in the markets. However, that all changed yesterday when the Dow broke above 30,304 telling me the Bullish scenario was underway. My target for this scenario was 30,600+. Yesterday’s early rally was impulsive, so it was likely part of wave 3 up in the five wave sequence for final Wave 5 up. Once wave 3 up completes, probably somewhere between 30,550 to 33,575, there should be a small wave 4 pullback. After that, the Dow should push to its final high somewhere close to or above the 30,600 level. Because the pattern appears to be a double zig-zag, the rally will likely extend into mid-January before it completes. BTW, the 30,600 level should provide strong resistance to further gains as it obtained by extending a trend line from the previous highs made in June and September. Usually, the third touch of a trend line is strong resistance. Students should note that once again, even though the major markets rallied hard yesterday, the breadth and volume was not supportive. The A-D indicator remained negative after yesterday’s session, as there were more declining issues on the NYSE than advancers. Same for volume as down volume was almost 55 percent vs. 45 percent to the upside. So, while the overall pattern suggests higher prices for the short term, cracks are developing in the supporting structure. A close below 29,750 now would confirm the Bearish case. This is up slightly from my previous line in the sand of 29,600. Yesterday’s trading caused the Market Timing Indicator on the Dow to turn Positive. The timing indicator for the NASDAQ remains Positive. The Dean's List remains Positive; The Tide remains Neutral. The Sector Ratio weakened slightly to 21-3 Positive after yesterday’s session. The top 5 strong sectors are Insurance, Media, Energy, Service, and Banks. The three weak sectors were Real Estate, Telecoms, and Food Drug. Today’s Pop Quiz: Yesterday was an interesting day to be trading. Let’s suppose that you were watching the futures and saw that the market was going to open higher. Let’s also say that you wanted to trade one of the top stocks on the Member’s Watch List, but you were unsure as to which one to pick. Hmmm? You saw that DDD, CLF and NCR were the top three stocks. All have had nice runs and are in similar patterns. But did you know which one to choose? The reason I’m going over this today is because this is something that happens a lot. Suppose you just took profit in your last top stock and were looking to re-enter another. But again, which one to choose? Well, there’s only one answer. If you compared all three of the top three stocks, you would have seen that while DDD and CLF were above NCR in the rankings, they were no longer trending. Their trend indicators had moved out of the Trend Zone. So, you would not have picked either of these issues. Hey, if you just sold a stock because its trend indicator was no longer trending,...that's your EXIT criteria, why would you pick another in the same boat? No, you wouldn’t do this. You would have picked the #3 stock, NCR because it was still trending. If you did, you had a nice day as the stock finished up 0.88 cents, after gaining as much as 1.56 cents intraday. DDD and CLF, stocks that were #1 and #2 on the List were down 0.62 and 0.49 cents for the day as they were no longer trending. Today’s take away: Trade or stay in trending stocks! Avoid stocks that are no longer trending. They could be on their way down. Model Update: The Model remains 100 percent in cash.
Wakes up to see my largest positions getting absolutely wiped out... How fun. What a fucking waste of time
That's why I mention "potential selling" as it could be a binary event. Then again, we were supposed to have a couple of those in the last 2 months and the market just shrugged them all off thanks in part to insane call-buying.
There literally is not an easier environment to make money than one where growth/inflation are both accelerating and the dollar is continually crashing to lower lows Stop paying that guy.