So.....I have 30,000 saved in the bank and I want to invest it to get fast cash. I want to get something straight, I saw that AMD's stock was 84.01 two days ago and today it is 87.25. If I had put all my 30k in the AMD stock(at 84.01) and sold it today (at 87.25) I checked and it said I would have made $1,156.64 in profit???? Is this correct? Is this how stocks work? but that is without factoring how much Robinhood's cut? how much is it. I read the website but I don't get it. "The fee is $0.000119 per share (equity sells) and $0.002 per share (options sells). This fee is rounded up to the nearest penny and no greater than $5.95. You may be charged a fee of more than $5.95 because the limit on this fee is based on the execution of your order, which can occur in multiple parts." I need layman's terms
Yes, you basically have it all right. You would have been able to afford 357 shares of AMD at $84.01. 0.000119 * 357 = $.04 Your total fees would have been $0.04. Just remember, you're literally gambling if that's all you know about any of this. It could have also gone to $81 later the day you bought it and you'd be down $1K in an hour.
I do not lose money until I sell right?? If the stock had gone down to 81 dollars but I did not sell and then waited for the next day and it went up to 88(today in the morning AMD's stock was 88 dollars) I could have sold then right? This seems so simple
Tom Tom Tom.... I admire your enthusiasm and candor. Please accept mine. I built my 401k long long before I considered gambling. And I am not good at games of chance. Just ask the casino I frequented lol. And you come across as an easy mark for every gambling house in town. You don't flail your money around and say "I want to play too for some fast easy money". I am not being mean. I am being real. And Robinhood doesn't take a cut, and you know that. They just sell your trading style to other brokers etc and they trade on how you act. Any Robinhood fees are just passdowns from the SEC. Edit to add: you are eligible to day trade without a lockout with 30k in cash and holdings. But if you drop below that you are subject to day trade rules. Looks easy eh? Easier to lose than win unless you study down to the hangnail on the CEO's left pinky toe. In detail.
Shouldn't I buy stocks right before the election. The stock market rallies really high right after so my plane was to buy stocks of multiple companies (American Airlines, Carnival, GE) which crashed when Covid hit hard in March 2020. They are all around 10-15 dollars. If they go up after the election by a lot I should sell and make a ton of free money. Well that is my plan I but tomorrow I will look at the 2012, 2016 election to see if this will work
If it was that easy, we'd all be billionaires. What if it drops to 81. Then 78. Then 75. Then there's a market crash because of covid shutdowns in January and it drops 50%+ again? Will you be glad you thought it was easy and just tried it after losing $20K?
I'm literally doing the opposite of this, and selling everything a week or two before the election. I could be wrong, but who knows.
Ok, you quoted my post but didn't even read what I said. And this election cycle is rife with market manipulation from the top down. For example you said GE. Nobody in their right mind should touch that stock for so many reasons I can't even count. But it's your money, you might get lucky. Good luck.
I admire your work. There's a reason Buffett sold out on all his airlines. American Airlines has a terrible balance sheet. Delta, Southwest, United, and Jet Blue are less likely to fail. Airlines have a daily cashburn. It cost more money for them to be an airline, than they make as an airline. As they sink further into the blackhole of taking more debt to pay existing debt, it's like being 30, and still paying for a credit card from college. Cruise ship companies are even worse. They have had ZERO income, and losing money every day. Just like movie theaters. It will be 10 years before any cruise ship company recovers, if they don't simply go bankrupt. GE had a CEO who raped the shareholders and robbed the company. Another 10 years to turn the books to even, before you can hope for profit.
