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August, 2024

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Anyone trade stocks? Questtrade/robinhood/iq

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Gryllz
Posts: 483 - Karma: 1,204
Anyone have some beginner tips, or recommendations for a trading platform?

Looking to open an online account for trading stocks. I have a couple friends who trade with quest trade and a day trading platform and they make pretty good money as a part time gig.
Jan 25 2019 2:37PM
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beckums
Posts: 342 - Karma: 631
I use thinkorswim and it's super nice. Theres a beginner and advanced mode, but even the beginner mode gives you a lot of leeway and advanced options, so it's not like you're clueless. For beginner tips, study candlesticks a fuck ton and trade stuff like the S&P 500 and futures market. super lucrative but can be risky. High risk = high reward.
Jan 25 2019 2:51PM
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CLQ
Posts: 2709 - Karma: 11,259
I've invested my entire student loan into Tesla because Elon Musk is a genius and he makes cool cars. Noo way Tesla could fail
Jan 25 2019 2:56PM
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Willgum
Posts: 3254 - Karma: 3,068
Stock trading as a non professional / institutional investor can't be used as a way to reliably make "pretty good money as a part time gig". Any gains your friends made can be chalked up to chance, luck, or a rising market which aligned with their time frame. This has been proven many times over in the industry.

It's a bummer to hear, but it's almost impossible to achieve any sort of Alpha when you consider the market is made up of high powered quant firms, hedge funds employing thousands of analysts smarter than you or I, and algorithms & bots eating up any arbitrage left over.

The small, individual investors who reliably capture Alpha ( making money attributed to skill) are either brilliant beyond belief, or manage assets of at least $5mm which allows them to access the necessary research to succeed. I work at such a research firm and the annual costs to access are huge.

In short, your time is probably better invested elsewhere.
Jan 25 2019 4:40PM
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Willgum
Posts: 3254 - Karma: 3,068
Dub post, but I should add that actively trading the stock market is a fun hobby if you don't approach it with the intention of making money. But it sounds like you're looking to actively trade as a side gig, which is what my reply was about. My advice is usually: passively invest in the market, and take any time you would have devoted to Due Diligence and learn a skill / start a different side hustle.
Jan 25 2019 4:46PM
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SnickleFriz
Posts: 328 - Karma: 900
If you're looking to invest, I have some ocean front property in Arizona that I could sell ya.
Jan 25 2019 5:47PM
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TRVP_ANGEL
Posts: 12462 - Karma: 115,367

So the problem is that I don't have the luxury of a track record. Sir, let me reintroduce myself to you. My name is Donnie Azoff from Stratton Oakmont in New York City and I plan on being the top broker in my firm this year. So what about this? We start small with 500 shares, a cash outlay of $20,000. If the stock goes up 10%, will that make you a rich man? Of course not. If if goes down 10%, will it make you a poor man? No..
 What this trade will do is serve as a benchmark for future relationships. The downside is minimal and the upside is a long-term relationship with a broker on Wall Street who will consistently make you money. Your only regret will be that I didn't call you six months ago.
Jan 26 2019 1:46AM
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milk_man
Posts: 5251 - Karma: 5,985
Don't listen to these guys. Yeah, you can't technically day trade on Robinhood, but you can still make short term trades.

The best advice I can give is make sure to place limit orders when trading lower volume stocks. If you place market orders on low volume stocks you could get a really bad price. Try to stick to more stable stocks. Yeah, you can make quick money on risky, small stocks..but you're more likely to make money (and have fun) short term trading more solid stocks.

As for platform, use Robinhood for sure. You can't pattern day trade until you have $25k, but you shouldn't be doing that until you get more experience anyway. Just get your feet in the water and test it out.

If you're also looking to start a retirement account just set up a Roth IRA on another site and put some money into low fee total market ETFs or something similar. Hmu if you have any questions about that also, very very good to start young. Have fun!

While you're at it, use my referral for Robinhood when you sign up and we'll both get a free stock:
http://share.robinhood.com/johnh595
Jan 27 2019 10:44PM
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Dustin.
Posts: 13839 - Karma: 7,704
CLQI've invested my entire student loan into Tesla because Elon Musk is a genius and he makes cool cars. Noo way Tesla could fail

Sounds sarcastic but...He has said himself many times that all he needs Tesla to do is make $1 more than it cost to run and he'll be happy. It's not a money making venture. Very cool stuff, nice cars, but their goals as an energy company are to solve problems, not make money.
Jan 28 2019 12:46AM
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ChadThundercock
Posts: 3071 - Karma: 828
Fidelity or E-Trade

I'm not gonna sit around here and give you the crypto bro sales pitch (even though my name is Bitcoin) as it's a horrible investment if you aren't willing to learn about the technology, travel overseas to meet founders of extremely early stage companies & understand math-based currency beyond the ticker.

If you want good solid ROI I'd try a 5 year CD with a bank like citigroup or wells fargo, put 5K in and you'll get a guaranteed return at the end of the 5 years. 401k isn't a bad idea either. You are FDIC insured here, and there's literally no way you lose money.
Jan 28 2019 6:21AM
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ChadThundercock
Posts: 3071 - Karma: 828
CLQI've invested my entire student loan into Tesla because Elon Musk is a genius and he makes cool cars. Noo way Tesla could fail


"considering taking Tesla private at $420 - funding secured"

Yeah I really trust this guy to make me money... No thanks.
Jan 28 2019 6:22AM
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milk_man
Posts: 5251 - Karma: 5,985
BitcoinFidelity or E-Trade

I'm not gonna sit around here and give you the crypto bro sales pitch (even though my name is Bitcoin) as it's a horrible investment if you aren't willing to learn about the technology, travel overseas to meet founders of extremely early stage companies & understand math-based currency beyond the ticker.

If you want good solid ROI I'd try a 5 year CD with a bank like citigroup or wells fargo, put 5K in and you'll get a guaranteed return at the end of the 5 years. 401k isn't a bad idea either. You are FDIC insured here, and there's literally no way you lose money.


A CD? Why? If OP wants a super solid investment why not buy an investment grade bond fund? A CD loses money because you aren't even earning inflation
Jan 29 2019 1:21AM
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Hansel9001
Posts: 197 - Karma: -74
Im up 20% since starting rh.
Rh is sweet. If i had to pay for each trade id be at a loss right now.
Jan 29 2019 1:24AM
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ChadThundercock
Posts: 3071 - Karma: 828
milk_manA CD? Why? If OP wants a super solid investment why not buy an investment grade bond fund? A CD loses money because you aren't even earning inflation


At that point I'd just suggest investing in a P & D
Jan 29 2019 1:55AM
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xxACIDTRIPxx
Posts: 5980 - Karma: 8,173
I trade csgo skins on my site csgotrader.com
Dec 25 2019 3:19AM
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iced
Posts: 3070 - Karma: 17,945
got to r/wallstreet bets
they are very friendly and love robinhood
all you need to know to become rich is "infinite leverage" and "guh"
you are welcome enjoy your millions
Dec 25 2019 11:44AM
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WoFIowz
Posts: 9788 - Karma: 72,402
A lot of the major platforms such as TD removed their trading fees or at least made them tiny. No longer recommended robinhood.
Dec 28 2019 2:30PM
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Nickc88
Posts: 630 - Karma: 2,074
rh having major problems this month, I suggest using tastyworks, TD, or webull
Mar 20 2020 10:53PM
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elcheapo
Posts: 3449 - Karma: 13,975
OP, get the thinkorswim app and just paper trade for several months.
Mar 20 2020 11:14PM
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little1337
Posts: 8185 - Karma: 46,319
Here's a tip, buy low and sell high!
Mar 20 2020 11:15PM
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mtbakerpow
Posts: 1105 - Karma: 927
🍿
Mar 20 2020 11:16PM
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xxACIDTRIPxx
Posts: 5980 - Karma: 8,173
mtbakerpow🍿


You’re a condescending cheeky cunt aren’t you
Mar 21 2020 5:36AM
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mtbakerpow
Posts: 1105 - Karma: 927
🍿
NU3R0_PHYS1C1STYou’re a condescending cheeky cunt aren’t you



Mar 21 2020 11:25AM
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Jeeemy2
Posts: 3 - Karma: 14
Now's the time to buy, you know trump will keep pouring money until stocks are high again
Mar 21 2020 11:46PM
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dolanslebensraum
Posts: 5959 - Karma: -13,099
Nickc88rh having major problems this month, I suggest using tastyworks, TD, or webull

Whats wrong with rh? Ive not seen any problems
Mar 22 2020 8:11AM
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elcheapo
Posts: 3449 - Karma: 13,975
DolanReloadedWhats wrong with rh? Ive not seen any problems

This has happened more than once


Not good
Mar 23 2020 4:11PM
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xxACIDTRIPxx
Posts: 5980 - Karma: 8,173
Jeeemy2Now's the time to buy, you know trump will keep pouring money until stocks are high again


I’m spending All my cash into stocks rn

glnna be balling soon
Mar 24 2020 3:17AM
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Dan3L
Posts: 90 - Karma: 884
The referenced post has been removed.


Idk I don’t trade stocks
Jun 28 2021 3:21AM
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CatdickBojangles
Posts: 6191 - Karma: 62,720
The referenced post has been removed.


Step 1, go to r/wallstreetbets. Step 2, YOLO a bunch of money into one shit stock. Step 3, make a pile of money or lose a fuck pile.
Jun 28 2021 1:20PM
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armchair_skier
Posts: 2204 - Karma: 27,574
investing to diversify your wealth > day trading
Jun 28 2021 3:52PM
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TheMoostafian
Posts: 4504 - Karma: 9,438
CLQI've invested my entire student loan into Tesla because Elon Musk is a genius and he makes cool cars. Noo way Tesla could fail


You'd have a 1000% ROI right now lol
Jun 30 2021 3:27AM
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CLQ
Posts: 2709 - Karma: 11,259
TheMoostafianYou'd have a 1000% ROI right now lol


damn who knew Tesla would become one of the most over vauled companies in the world
Jun 30 2021 10:04PM
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