Who is using RobinHood?

Discussion in 'The Cocktail Lounge' started by A55, Jul 14, 2020.

  1. The Brontide

    The Brontide Active Member

    Joined:
    May 15, 2020
    Messages:
    281
    Likes Received:
    114
    I love Robinhood. Have been a client since before they had an app or web interface.

    To say RH "preys" on uneducated or uninformed, or I'll prepared clients,... Is absolutely poor wording.

    That is their target market, and not to "steal from the poor".

    Ahh then there is the noob mistakes they like to pump in the news.

    I don't know of many young people that can afford let alone prefer a fully managed account with the associated costs.

    Plus, there is no better learning tool than failure. Best to fail while you are young, no?

    Yes failing sucks, and sometimes gets very spendy.

    Asking for a show of hands here, who here is the perfect trader? Who here has learned all they will ever need to know?

    Anyone?


    Note: I am not a noob. Been trading for, well, let's just say a few years now. Have used a variety of brokers over the years. When RH announced their biz plan, I bought in, and had to wait near a year to actually get an app. I have saved countless dollars with no fees, and made quite a bit of returns.

    It isn't that RH "preys" on noobs, it's just that noobs now have a simplified UI, affordable trade costs, and better access to the markets. Never before have the markets been so accessable to so many for so little.

    I could care less if they make their money off of my trade flow. It doesn't change my positions or returns.
     
    OldFart and TomB16 like this.
  2. The Brontide

    The Brontide Active Member

    Joined:
    May 15, 2020
    Messages:
    281
    Likes Received:
    114
    I am not suggesting your post dated yourself but,...

    Millennials are stupid smart. (Not trying to be mean). Very intelligent in a world I personally would not like to grow up in. But here we are.

    We don't see many old fogy stogy silver back gamers here, do we? Ok, maybe a couple.

    But to sell to a market, you have to appeal to the target. In this case, millennials.

    IE: old stogy silver back investors - like old stogy silver back brokers and investments.

    Millennials, not so much. And in fact they will never agree with anything old and stogy. It's not your life, it's theirs, and they like the gamer style of investing.

    The old fogies, look out. They are here and making money where you aren't looking. And one day they will be picking your retirement home and who gets to change your depends. So don't fight the trend. Brokers aren't. Their interfaces get more millennialish everyday it seems.
     
    TomB16 and B Russ like this.
  3. B Russ

    B Russ Well-Known Member

    Joined:
    Sep 25, 2017
    Messages:
    548
    Likes Received:
    338
    Well said. Maybe i just fed the negative hype due to the hype i was fed. I was actually indifferent until i started seeing all the negative hype. Then guess i just picked a side, chimed in on something im not that well versed on, and put in my place.

    Im still indifferent though, i guess, if being honest.
    If they do what they are supposed to do, and their pricing is in tune with other platforms, have at it!

    i missed the millennial mark by 2yrs btw. ;). Haha. close enough I claim millennial status when i am being a turd, and claim gen x when Talkin smack about millennials (my friends). All in good fun.
     
    #23 B Russ, Jul 22, 2020
    Last edited: Jul 22, 2020
    TomB16 and The Brontide like this.
  4. The Brontide

    The Brontide Active Member

    Joined:
    May 15, 2020
    Messages:
    281
    Likes Received:
    114
    I agree. RH has no pricing. It truly is free to use. Of course they make money though.

    It's called trade flow. This very valuable data combined with client demographics, is sold to others. This data gives a fine granular view of the thought patterns going on in RH. That is where they make their money. And lots. But they do not sell any personally identifying info.

    Millennials and younger are a new and exciting market to target. But the market is willing to pay RH big to try their best to understand what these new markets like, how they think, etc. And RH knows their trade flow data is very current and accurate to the hour likely.

    The only real concern to me is RH basically maintains their own crypto clearing house. I worry about conflict of interest issues. But I rarely play in the crypto world.
     
    #24 The Brontide, Jul 22, 2020
    Last edited: Jul 22, 2020
  5. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246
    I understand the attraction of low price. But I don't understand low price loser. Almost as if common sense is missing. Like buying into Express Spa. A spa at the airport.

    I see low price like BlackRock Energy Fund

    Screenshot_2020-07-23-23-57-38_kindlephoto-12577061.png Screenshot_2020-07-23-23-59-29_kindlephoto-12611290.png Screenshot_2020-07-23-23-59-36_kindlephoto-12638355.png
     
  6. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246
    Can anyone spare 7 Rupee?

    Screenshot_2020-07-24-01-05-46_kindlephoto-15986363.png Screenshot_2020-07-24-01-07-24_kindlephoto-16034736.png
     
  7. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246
  8. Weston Gross

    Weston Gross Member

    Joined:
    Jul 9, 2020
    Messages:
    63
    Likes Received:
    11
    I have a couple stocks on Robinhood
     
  9. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246
    Are you buying stuff that's been written about? Like the spa company, Hertz Genius? I'm wondering how all of these people are drawn to those, or how they even heard of it.
     
  10. The Brontide

    The Brontide Active Member

    Joined:
    May 15, 2020
    Messages:
    281
    Likes Received:
    114
    Since 2011 to March, everybody is a winner.

    March, everyone is a loser.

    April to present, everyone is a winner.


    But the Robinhood crowd exacerbates the funding of failing companies.

    Disclaimer, been funded in Robinhood since 2015 after their Android app finally was released, so..
     
  11. 姑爺仔

    姑爺仔 Active Member

    Joined:
    Jul 15, 2020
    Messages:
    120
    Likes Received:
    57
    It's not the company doing anything wrong. There is a group of people, who all happen to use RobinHood, and they are now called, "The RobinHood Crowd". Doesn't make everyone using RobinHood a part of the group. Their trading has attracted a lot of attention.
     
    The Brontide likes this.
  12. The Brontide

    The Brontide Active Member

    Joined:
    May 15, 2020
    Messages:
    281
    Likes Received:
    114
    Made me smile and you are right.

    I think $1200 and an extra $600 a week on top of unemployment for a dozen weeks and no place to go. Well, some really smart, and maybe a couple not so smart, found an entertaining avenue to replace sports and make some change on the side on the back of a massive rebound....

    And we have the Robinhood crowd. Plus a couple dozen million other Robinhood users.

    But the "crowd" moved quite a bit of money and continue to do so.
     
  13. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246
    A real phenomenon. Social media connects "the crowd". It's also how they are manipulated.

    If it's all over Facebook that an airport spa company is a great idea, then nobody looks at real world facts. Most obvious fact is that spa customers are mostly women. So you are serving less than half of the foot traffic in the airport. Most men and children are not getting seaweed wraps after a long flight. And your market is really the people who are waiting for flights. After you get off a plane, and you have all your luggage, you just want to get out of the airport. Spas are everywhere. Who will drive to the airport, pay for airport parking, to pay more for a facial and massage? Are the spas inside or outside of the TSA checkpoint? At the moment, most spas including airport locations, are non-essential. Not to mention that just like nail and hair salons, people are afraid of catching Corona Virus. Then they are tryna to convert the spa into a Covid screening center. A masseuse checking temperatures. 1 day all airports will screen for Covid at the TSA checkpoint. Imaging technology, not a spa girl with a thermometer.

    Not to mention that airport traffic has been down, airport overhead expenses are higher, and that the company has yet to turn a profit operating airport spas.
     
  14. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246
    I didn't know that Robin Hood doesn't have futures, bonds, and mutual funds. Screenshot_20200725-212523_kindlephoto-700196473.png
     
  15. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246
  16. Kevin Stork

    Kevin Stork New Member

    Joined:
    Jul 28, 2020
    Messages:
    2
    Likes Received:
    0
    Any trading platforms available in Canada with the same pre and post trading hours as in the USA? Or which place is the best in regards to most hours being available pre and post on the NASDAQ, NYSE and ASE?
     
  17. The Brontide

    The Brontide Active Member

    Joined:
    May 15, 2020
    Messages:
    281
    Likes Received:
    114
    That chart is just a bit dated. Robinhood offers fractional, and other investment vehicles are in the pipeline.
     
  18. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246
    I'm not so sure that I would buy a fractional share. I can't imagine looking at GE, and thinking that I don't want to risk the whole $6, let me get $1.25 first and see how it goes. But it could be a new way to trade. Instead of trying to figure out how many shares you are buying at which price, you could round it off. Like the old days at the butcher shop counter. I would ask the butcher for about $5 worth of hamburger. I give him $5, and he gives me about that much meat. Now I can look at a penny stock, and buy $5 worth. Great if I am using Robin Hood to trade To p Ships or Genius. You could buy 21¢ stock by the pound.
     
    The Brontide likes this.
  19. The Brontide

    The Brontide Active Member

    Joined:
    May 15, 2020
    Messages:
    281
    Likes Received:
    114
    Exactly the purpose intended. Plus when I say I am all in, I am to every penny.

    :cool:
     
  20. A55

    A55 Well-Known Member

    Joined:
    Jun 28, 2020
    Messages:
    1,043
    Likes Received:
    246

Share This Page