jackblaster
Active Member
Anyone tried the robinhood app?
Lets talk stocks
- Thread starter bud nugbong
- Start date
heckler73
Well-Known Member
Is that even released, yet?
And did you see the hefty fees for trades outside of the US?
It is an interesting concept, and fits into my narrative about technology displacing labour. Either we are all going to become traders, giving to and taking from the same pool of recycling dollars, or there's going to be a lot of broke people crying by their phones when they get front-run by some algo-bot coded in Python.
jackblaster
Active Member
Yeah its out. I was on the waiting list pretty early and have been using it for a few weeks. Its fine for buying and selling stuff. The only thing I don't like about it is there is a 3 day waiting period between fund transfers, that's if your putting money in or out of Robinhood, OR! if you waiting on your returns from a stock sale. So you money is locked up for 3 days before you can play with it again. Other than its fine, and especially good if you use it for long term stuff. Like say, buying a couple shares of APPL per month or whathaveyou to hang on to.
WHODAT@THADOR
Well-Known Member
Thats most brokerages I dealt w/ tho if your not on a margin acct?
jackblaster
Active Member
True enough.
heckler73
Well-Known Member
Nevertheless, Robinhood is a beginning point for the dismantling of yet another industry by technology. OR brokers are going to need to step up their offerings, like providing better platforms (which allow for easier algo programming, etc.).
I'll be curious to see if a similar app comes up in Canada. I doubt it, though, since our market is probably too small and exclusive to allow it.
I'll be curious to see if a similar app comes up in Canada. I doubt it, though, since our market is probably too small and exclusive to allow it.
WHODAT@THADOR
Well-Known Member
What do you mean? Does robinhood place the trades for you? I have to admit I have done little research into it. Brokers will front run orders period either by sending em through dark pools or utilizing the fact that the average investor cannot afford the data speeds/levels that they can.
jackblaster
Active Member
Yeah it does all the buying and selling for your orders with no fee's. I'm not sure exactly how it works on the back end though.
WHODAT@THADOR
Well-Known Member
But what does it use to trigger the trades?Even the greatest quantz or institutional models still have a drawdown you have to give some back somewhere...
heckler73
Well-Known Member
That's where the international fees and whatnot come in. There's still an SEC fee and Trading Activity Fee; just no broker fees, on US trades. It's just a trading platform/broker service. Very basic...
jackblaster
Active Member
I get it.. I didn't have much time earlier.
So here is the middle of the road answer.. Quoted from a sort of "middle medium source," in my opinion.
What’s missing? Getting free trades is great, but I think it’s also important to know what you won’t get, at least right now:
How do they make money? For now, Robinhood will make money the same way other brokers do: collect interest on your idle cash, charge you interest for margin loans, and sell order flow. The most innovative prospect is to the plan to sell API access to other financial apps.
Article/Review: http://www.mymoneyblog.com/robinhood-app-review.html
I also thought this was an interesting bit of publicity.
Nas and Snoop Dogg are betting big on a new app that experts say is poised to take the investment world by storm.
The new app, Robinhood, aims at taking stock investing where few have gone before — and it plans to make it free and easy.
The current system forces potential investors to go online or call a brokerage firm like E-Trade or Charles Schwab. Those firms usually charge fees of $7 to $10 per trade.
And that is what Robinhood is looking to eliminate — kind of like taking back from the rich and giving to the regular joes.
Oh yeah, now there’s an app for that.
The app makers say, “Today, the average individual has to pay up to $10 per trade. We believe there’s something inherently wrong with that, and we’re on a path to change it. Robinhood’s powerfully engineered technology and carefully designed mobile experience will allow everyday investors to trade with zero commissions.”
Robinhood just closed a $13 million Series A financing round from some of the world’s most notable investors.
Article/Review: http://www.blackenterprise.com/money/investing/the-next-big-stock-tip-nas-snoop-bet-big-on-robinhood-app/
Personally. I think its just the next step in the sort of "total credit system" like the ones you see in sci-fi movies. In the next hundred years anyway. Money is kinda on it's way out as something people can touch. Its going to come down to screens of balances and scanning devices. Cash, as a tangible thing, will vanish, or become a novelty. But hey, I am a little nuts. I do not think trading on an "app" will necessarily be free forever. I think its an experiment, I think I would even pay a little bit, micro-fractions, for a quick trade without having to log onto a website or call someone, the app they made is slicker than catshit. Robinhood doesn't have a website that you can trade on, its mobile only. If you want to pay ten dollars for a trade you can call them and do it as an "assisted trade," otherwise they let the computers do all the work.
They have a huge number of wealthy people investing in them as a "currently" private company. But I wouldn't be overly-shocked if they eventually went public. I think they are on the cutting edge of the knife for the next generation of investors.
That doesn't help at all I don't think.
Haha, anyway. It is a cool app. You just click on the stock you want to buy, punch in how much, and swipe the screen to confirm. I got a couple wait-list shortcuts, like 2 i think, if a couple of you want to try it yourself.
So here is the middle of the road answer.. Quoted from a sort of "middle medium source," in my opinion.
What’s missing? Getting free trades is great, but I think it’s also important to know what you won’t get, at least right now:
- You must access your account via your iPhone, iPad, or iPod Touch. Android and web interface are “coming in 2015″.
- There is no phone number for customer support, at least that I can find. All their contact links direct you to compose an e-mail to support@robinhood.com. I’d feel more comfortable with a phone number, but customer service agents cost money.
- No advanced order types like trailing stop-loss or trailing stop-limit.
- According to their fee schedule, broker-assisted phone trades are $10 each. But again, I can’t even find a phone number to reach a broker.
- Electronic statements are the default. I don’t even see an option to enable paper statements in the app, but according to their fee schedule paper statements cost $5 a pop.
- Currently, they do not support ACAT transfers, so you can’t move over your existing assets from an outside brokerage. (Or move out your assets via ACAT either, I’m guessing.)
How do they make money? For now, Robinhood will make money the same way other brokers do: collect interest on your idle cash, charge you interest for margin loans, and sell order flow. The most innovative prospect is to the plan to sell API access to other financial apps.
Article/Review: http://www.mymoneyblog.com/robinhood-app-review.html
I also thought this was an interesting bit of publicity.
Nas and Snoop Dogg are betting big on a new app that experts say is poised to take the investment world by storm.
The new app, Robinhood, aims at taking stock investing where few have gone before — and it plans to make it free and easy.
The current system forces potential investors to go online or call a brokerage firm like E-Trade or Charles Schwab. Those firms usually charge fees of $7 to $10 per trade.
And that is what Robinhood is looking to eliminate — kind of like taking back from the rich and giving to the regular joes.
Oh yeah, now there’s an app for that.
The app makers say, “Today, the average individual has to pay up to $10 per trade. We believe there’s something inherently wrong with that, and we’re on a path to change it. Robinhood’s powerfully engineered technology and carefully designed mobile experience will allow everyday investors to trade with zero commissions.”
Robinhood just closed a $13 million Series A financing round from some of the world’s most notable investors.
Article/Review: http://www.blackenterprise.com/money/investing/the-next-big-stock-tip-nas-snoop-bet-big-on-robinhood-app/
Personally. I think its just the next step in the sort of "total credit system" like the ones you see in sci-fi movies. In the next hundred years anyway. Money is kinda on it's way out as something people can touch. Its going to come down to screens of balances and scanning devices. Cash, as a tangible thing, will vanish, or become a novelty. But hey, I am a little nuts. I do not think trading on an "app" will necessarily be free forever. I think its an experiment, I think I would even pay a little bit, micro-fractions, for a quick trade without having to log onto a website or call someone, the app they made is slicker than catshit. Robinhood doesn't have a website that you can trade on, its mobile only. If you want to pay ten dollars for a trade you can call them and do it as an "assisted trade," otherwise they let the computers do all the work.
They have a huge number of wealthy people investing in them as a "currently" private company. But I wouldn't be overly-shocked if they eventually went public. I think they are on the cutting edge of the knife for the next generation of investors.
That doesn't help at all I don't think.
Haha, anyway. It is a cool app. You just click on the stock you want to buy, punch in how much, and swipe the screen to confirm. I got a couple wait-list shortcuts, like 2 i think, if a couple of you want to try it yourself.
WHODAT@THADOR
Well-Known Member
I c but just because a app is allowing people to have cheaper trade commissions doesn't replace positioning and size and no stops? Seems kind of sketchy to me
bud nugbong
Well-Known Member
If it gets more people into stocks I think that's a good thing. It does seem a little sketch but if nas and snoop are in on it, "shits gotta be fire"
I'm not surprised something like this is coming out. Its an app revolution going on. I heard they are working on apps that actually wipe for you...but you need an ipad 6
I'm not surprised something like this is coming out. Its an app revolution going on. I heard they are working on apps that actually wipe for you...but you need an ipad 6
GODWORK
Well-Known Member
WOW....FUCK.
i just read ALL 11 pages of the PUMP & DUMP....
And here goes my take..
I started my corporation on 3/7/15...
I filed with the intent to go IPO.
NYSE will not allow my company to trade until I can clear THEIR company profile requirements.
So, I moved on to OverTheCounter BulletinBoards...(NASDAQ)
I couldnt meet NASDAQ company profile requirements...
Not to mention the COST of filing a prospectus, 8-k form, 10-Q form, & the POCPA financial statements that EDGAR requires.
So, I moved on to the shell corp & reverse merger option of going IPO...
I sat down with my local attorney...(SEC Member & practicing expert)
I asked him....is it REALLY worth my effort to spend $50,000 - $120,000 for a shell corp with an OTC BB/NASDAQ ticker tag; in order to trade my corporate equity?
He told me flat out..."i see this all the time....these shells are setup to perform only for those that stand to make the mark up on mass volume trades" "if you want to avoid SEC violation; stay away from shells"
I didnt tell him that i had already found a possible reverse merger for my corporation to acquire.
Ticker FWDG.
LINKEDin the CEO, COO, CFO, Treas.
Moving on, I looked into selling equity in my corporation on the PINK sheets.
Why? Pink sheets dont require any reporting activity...I elected to pass.
I have been trying to raise venture capital to sustain my corporate growth...
Because my EIN/DUNS# are fresh as a newborns ass...bankers are still linking my personal WITH my business.
So what is a young corporation to do???
GO DirectPublicOffering...
Thats right, I am taking my corporation to the very people that were THERE with me as I learned MY INDUSTRY.
I may not know ADVANCE SEC Law or MaTRiX Based Equities Underwriting....But, I know Cannabis.
I also know that if I sell equity ownership & dividend support to REAL cannabis people...Ill feel better than selling my passion to some investment banker that wouldnt stand next to a stoner on public transit.
Make no mistake...there is a nice bit of work required to go DPO.
but its not something thats impossible to understand OR do.
If I can issue stock to ALL the members of my forums...it means that CANNABIS PEOPLE are the ones that benefit from my corporations expansion & development.
i just read ALL 11 pages of the PUMP & DUMP....
And here goes my take..
I started my corporation on 3/7/15...
I filed with the intent to go IPO.
NYSE will not allow my company to trade until I can clear THEIR company profile requirements.
So, I moved on to OverTheCounter BulletinBoards...(NASDAQ)
I couldnt meet NASDAQ company profile requirements...
Not to mention the COST of filing a prospectus, 8-k form, 10-Q form, & the POCPA financial statements that EDGAR requires.
So, I moved on to the shell corp & reverse merger option of going IPO...
I sat down with my local attorney...(SEC Member & practicing expert)
I asked him....is it REALLY worth my effort to spend $50,000 - $120,000 for a shell corp with an OTC BB/NASDAQ ticker tag; in order to trade my corporate equity?
He told me flat out..."i see this all the time....these shells are setup to perform only for those that stand to make the mark up on mass volume trades" "if you want to avoid SEC violation; stay away from shells"
I didnt tell him that i had already found a possible reverse merger for my corporation to acquire.
Ticker FWDG.
LINKEDin the CEO, COO, CFO, Treas.
Moving on, I looked into selling equity in my corporation on the PINK sheets.
Why? Pink sheets dont require any reporting activity...I elected to pass.
I have been trying to raise venture capital to sustain my corporate growth...
Because my EIN/DUNS# are fresh as a newborns ass...bankers are still linking my personal WITH my business.
So what is a young corporation to do???
GO DirectPublicOffering...
Thats right, I am taking my corporation to the very people that were THERE with me as I learned MY INDUSTRY.
I may not know ADVANCE SEC Law or MaTRiX Based Equities Underwriting....But, I know Cannabis.
I also know that if I sell equity ownership & dividend support to REAL cannabis people...Ill feel better than selling my passion to some investment banker that wouldnt stand next to a stoner on public transit.
Make no mistake...there is a nice bit of work required to go DPO.
but its not something thats impossible to understand OR do.
If I can issue stock to ALL the members of my forums...it means that CANNABIS PEOPLE are the ones that benefit from my corporations expansion & development.
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GODWORK
Well-Known Member
if you mean percentage points...then YES!
if you mean PINK PAPERs...then NO!
The corporation still has DIRECTOR equity positions available.
These positions include a shareholder percentage of 10,000,000. registered common stock certificates.
The positions are NOT for sale.
In order to secure a DIRECTOR equity position the candidate would have to be elected.
Common stockholders have voting rights.
I would elect any "Well-Known Member" that offered a considerable amount of genetic contribution to the corporation.
I would elect any Forum Member that offered 10+ breeder test journals & equitable contribution.
I would elect any Breeder that has issued 100+ TESTER Packs.
IF I were going to invest in a Cannabis Corporation...Those are the types of people I would want in positions of power. Why? Because its my MONEY that buys shares...& I dont like losing my investments.
if you mean PINK PAPERs...then NO!
The corporation still has DIRECTOR equity positions available.
These positions include a shareholder percentage of 10,000,000. registered common stock certificates.
The positions are NOT for sale.
In order to secure a DIRECTOR equity position the candidate would have to be elected.
Common stockholders have voting rights.
I would elect any "Well-Known Member" that offered a considerable amount of genetic contribution to the corporation.
I would elect any Forum Member that offered 10+ breeder test journals & equitable contribution.
I would elect any Breeder that has issued 100+ TESTER Packs.
IF I were going to invest in a Cannabis Corporation...Those are the types of people I would want in positions of power. Why? Because its my MONEY that buys shares...& I dont like losing my investments.
heckler73
Well-Known Member
I meant Private Placements.
I'm not sure what you're even talking about. Are you trying to fund a startup?
GODWORK
Well-Known Member
The shares are being sold for the purpose of corporate expansion...
The corporation is filed under Research & Development...with the state of CO.
The corporation profits from private cannabinoid profiling.
IF YOU are a breeder.
IF YOU are a grower.
IF YOU are a supplier.
Then YOU understand the need for testing.
As an INVESTOR, I can see my ROI with a company that provides a service that I can ACTUAL use.
The corporation is filed under Research & Development...with the state of CO.
The corporation profits from private cannabinoid profiling.
IF YOU are a breeder.
IF YOU are a grower.
IF YOU are a supplier.
Then YOU understand the need for testing.
As an INVESTOR, I can see my ROI with a company that provides a service that I can ACTUAL use.