Robinhood Stock Trading app

[1775usmarine]

Anyone else have this app on their phone? For those looking to get into the stock market this company allows you the freedom to buy and sell stocks with no broker fees, that means free trades. I've only been doing it for a month and a half but have some gambles and a few safe stocks for the dividends. You get near real time data instead of waiting up to 15 min for the tickers. You can link your bank so you can deposit money to buy more stocks and too of course move money back to the bank. They just started to let you transfer stocks from other brokerages and Robinhood will pay the transfer fees. The only issue I have is that dividends aren't automatically reinvested into the stocks you have. I can see that as both a pro and con but I'm hoping they update the program to allow that. Its a basic app that lets you dip your toes in where the big boys swim. Another plus is if you join and use my link we each get a free stock which could be anything from Ford to Tesla.


I am not a paid spokesperson for Robinhood just trying to get some free stocks and help some people out who want to be their own broker.

https://share.robinhood.com/michaelj1083

 

[Doug]

I'm in a mutual fund that paid 14% so far this year.
What you're doing sounds fun, guessing which ones will go up and which ones will go down, but, in my opinion, for an investment strategy, it's like buying lottery tickets. Play the game if you want to play, but if you're serious about growing your money get a good investment counselor.

 

[1775usmarine]

I'm in a mutual fund that paid 14% so far this year.
What you're doing sounds fun, guessing which ones will go up and which ones will go down, but, in my opinion, for an investment strategy, it's like buying lottery tickets. Play the game if you want to play, but if you're serious about growing your money get a good investment counselor.

I've got mutual funds from work and from after I graduated High School. I figure if there was a company that might make it big in the next 30 yrs I would like to get in on the ground floor and take a ride. I plan on buying more stocks in companies that have a solid future for the next 40yrs that have been paying dividends for a long time as well as are increasing the payout of the dividends. I may never become a millionaire from playing the stock market alone but I should have a decent amount built up by the time I retire around 2055.

 

[Doug]

Congratulations. Diversification is, in my mind, the key. My funds are in many companies, but no one company gets more than about 3%.

 

[JettaKnight]

I'm in a mutual fund that paid 14% so far this year.
What you're doing sounds fun, guessing which ones will go up and which ones will go down, but, in my opinion, for an investment strategy, it's like buying lottery tickets. Play the game if you want to play, but if you're serious about growing your money get a good investment counselor.

You're invested in (I assume) an actively managed mutual fund and criticizing others' investment strategies?

The Stupidest Thing You Can Do With Your Money - Freakonomics Freakonomics



There's nothing preventing a Robinhood investor from buying an ETF and holding it for years.


As for Robinhood, meh. I have absolutely no desire to make trades from an "app" (if I did own a smart phone), and free isn't all that free. I'm not willing to give up what I have in TDAmeritrade to save around $100 annually. Nevertheless, it sounds promising.

Here's some info on Robinhood.

 

[1775usmarine]

You're invested in (I assume) an actively managed mutual fund and criticizing others' investment strategies?

The Stupidest Thing You Can Do With Your Money - Freakonomics Freakonomics



There's nothing preventing a Robinhood investor from buying an ETF and holding it for years.


As for Robinhood, meh. I have absolutely no desire to make trades from an "app" (if I did own a smart phone), and free isn't all that free. I'm not willing to give up what I have in TDAmeritrade to save around $100 annually. Nevertheless, it sounds promising.

Here's some info on Robinhood.

I believe recently they have made it where you can traditionally use the computer as some people don't use smart phones.

Lets try to keep this civil for the sake of knowledge is power.

 

[CampingJosh]

We're going to max both Roth IRAs this year (into index funds), and Wifey won't qualify for her company's 401(k) until the first of the year. When she does, we'll start using that first.

But I've been thinking about putting aside a few hundred dollars to play the stock market. And I do mean "play"--it'll be money that otherwise would have gone for some other nonsense like more holsters I'll decide I don't like or a third motorcycle helmet or something like that.

We did an investment game one year in elementary school where we pulled the financial section from USA Today every couple weeks. I thought it was fun then, and since I still remember it 20+ years later, maybe I should finally give in and try it.

 

[1775usmarine]

We're going to max both Roth IRAs this year (into index funds), and Wifey won't qualify for her company's 401(k) until the first of the year. When she does, we'll start using that first.

But I've been thinking about putting aside a few hundred dollars to play the stock market. And I do mean "play"--it'll be money that otherwise would have gone for some other nonsense like more holsters I'll decide I don't like or a third motorcycle helmet or something like that.

We did an investment game one year in elementary school where we pulled the financial section from USA Today every couple weeks. I thought it was fun then, and since I still remember it 20+ years later, maybe I should finally give in and try it.

I earn money every quarter for using a pedometer at work up to $250 each year. We also did the investment game though I think I did it when I was in middle school. But yeah I figure any extra funds I get throughout the year go towards the market.

 

[Kutnupe14]

It's a fun little app for people looking to get in. And the no fees is a game changer. However if you do use it, get a real time scanner to follow after the bell sounds. And brush up on rules. A PDT violation will ruin your day.

 

[BehindBlueI's]

I pay less than $9 a trade with USAA, have more options and tools, and automatically reinvests my dividends. I'll stick with USAA.

 

[sugarcreekbrass]

I just started using Robinhood just over a week ago. I’m looking at it as a way to learn more about the market. I just started with $500 that I earned doing a side job. I have money going into retirement funds and also a Roth each month. My Robinhood account is just for fun, like playing the lottery or going to a casino. I figured if I could earn just $5 a month doing this, it is more than sitting in a savings account.