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50 dollar robinhood account

Discussion in 'Trade Journals' started by Optionslayer, Dec 7, 2019.


Can I make money with a 50 dollar robinhood acct.

  1. Kiss that 50 bucks goodbye

  2. Tell us how you did in 6 months

  1. TomB16

    TomB16 Well-Known Member

    Jun 22, 2018
    Likes Received:
    Slayer is plundering and it's raining blood.
  2. Optionslayer

    Optionslayer Member

    Nov 7, 2019
    Likes Received:
    It did with my relationship with ROBINHOOD.
    Was closing a simple BTO- STC option trade, which I did but, due to a glitch in their platform also sold a NAKED CALL of the same strike that I never placed. Luckily I caught it later in the day and had to close the trade , being DT 4 which flagged me as PDT.
    No problem, contact customer service " good luck with that." At ROBINHOOD its email us or f... off.

    Several days later some young punk informs me the trade was legit, the PDT would not be lifted and HIS decision was final.
    Obviously he didnt have a clue.
    Liquidated account and transferring cash back to my main broker.

    Advise, choose a real broker and stay away from ROBINHOOD.

    Thread is dead.
    Probably will start another one

    T0rm3nted and TomB16 like this.
  3. hitman

    hitman Active Member

    May 29, 2016
    Likes Received:
    don't hold me to this but from what i remember in the USA you have to have $25K in your account to daytrade unless you are doing 3 day turn around then you won't be flagged as DT.
  4. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    May 24, 2016
    Likes Received:
    Hey man, sorry to hear that. I got hit with with an account restriction after a 4th daytrade back in November. I'm still restricted until 2/15 from any daytrades or they restrict me from buying anything. I've thought about changing to another broker, but the zero fees are huge for me. This is the 2nd time this as happened to me. The previous restriction was from buying and selling b/c I did a 5th daytrade within a 5 day window.
  5. Zachary Kaspar

    Zachary Kaspar New Member

    Feb 6, 2020
    Likes Received:
    Just saying I am highly interested in your plans and trading strategies. I too started trading RH with a small account. Played around with penny stocks for a while until RH opened options trading to its platform. Now I focus completely on trading s&p500 with options.
  6. ChrisDouthit

    ChrisDouthit New Member

    Jan 31, 2020
    Likes Received:
    If you’re looking to trade more dynamic positions, RobinHood is the worst! I’ve had clients tell me they don’t calculate risk appropriately on spreads, which means they don’t allow you to trade them. Another just told me, he couldn’t trade out of the iron condor until expiration. If you want to do real option trading RobinHood’s not the way to go.

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