Most likely, you just signed up for stock trading and now need to know how Most likely, you just signed up for stock trading and now need to know how to use Robinhood with huge results. If not, I highly recommend that you do. There is a few things you need to know about Robinhood’s stock trading app. It is by far an excellent way to get market exposure even starting with a very small amount. Robinhood has quite a few little secrets that everyone should know. Keep reading and I will show you how to get a free stock right off the bat to boot.
IIt is funny how quickly new technology catches on. I was teaching an investing class for my seniors when Robinhood first can out and one of them asked if I have ever heard of them. I did not at the time know who they were. The student wanted to invest in them because they allowed free trades. I was managing our classroom portfolio through Ameritrade at the time and the fees were killing our returns. The free trading definitely peaked my interest and so I signed up and invested a few hundred just to make sure it was safe for all my students who may want to jump onboard. I was pleasantly surprised with the ease of use and the fact that ALL my trades were free, unlike over at Ameritrade. (To be fair…Ameritrade now has free trades too) But what I really loved was the free stock that I received. I got a $40 stock just for signing up. If this sounds good to you, then click on my referral link here and we both get a stock for free. You can’t beat that kind of deal. I have taken that $40 stock and turned it into over $200 in stocks as of now. I let the students know what I am doing so they can follow along or even do the same thing with their stocks. We have been enjoying the latest run in the market. I have posted a quick look at the three month chart of what this $40 FREE stock turned into with some smart trading.
But what are some of the other options that you have when trading with the Robinhood app? One thing that I am really into is cryptocurrency. I at one time use to run different miners that would help get me all kinds of different cryptocurrencies. I ended up turning them into Ethereum and Bitcoin and letting them sit. We all know what happened after a while with Bitcoin. The price skyrocketed all the way up to almost $20,000 a coin. Now I only had two bitcoins, but that still was a lot of cash. Since then, Bitcoin has fallen back down to the $10,000 range. (And no, I did not sell my coins…that is a whole other story that led to people being put into jail around the world.) Robinhood knows the future and sees that trading in cryptocurrencies is something that will become hugely popular as more people jump on board. They allow you to trade in the main currencies and are always adding new ones on if they meet their criteria.
There is also options, which trades can try their hand at. These are some of the most riskiest assets out there though. I would highly recommend trying the regular market first and reading up on options trading before going into those markets. They can lead to huge gains, but also cost you all your money and some. So beware of what you are doing if you do decided to buy a few calls or puts. You can even write your own calls and puts if you are up to the challenge. I have watched people make over a million dollars with very little to start using these options. At the same time, I have also watched people lose over a million dollars trading in the options market. These even was a recent article in Forbes about a man who committed suicide after seeing a $730,000 negative balance in his Robinhood account.
At the end of the day, you need to be investing in the stock market and using the Robinhood platform is what I would recommend. It has recently just started fractional trading, which allows you to buy a piece of a stock if you do not have enough cash in your account to purchase a whole share. This gives you a chance to own some pretty awesome stuff with just a few bucks. Imagine now being able to buy a part of BRK.A (Berkshire Hathaway A Shares) when they are going for over $291,000 a share. Sounds good to me! Take a look here and sign up for your free stock share here. It only takes a moment to make the right financial move.