Robinhood App (Stock Trading)

[Volunteer08]

Hey guys,

I recently downloaded an app called Robinhood. I could describe the app for hours, but essentially allows you to trade without fees (transactional). You can follow a bunch of stocks, ones you buy or ones you're thinking of buying.

Anyway, I wanted to come on here and see if anyone uses the app? I just put $500 in the account to mess around with, but my transfer is still pending. Should be good by tomorrow.

App tips? Stock tips?

 

[Thunder Good-Oil]

Add $50 and buy a share of google.

Actually, you can make some money with uwti and dwti. They move at 3x the price of crude oil. D is down, U is up.

They are ETFs, so they never expire worthless as stock puts and calls often do. U has gone from under $2 to about $3.50 in a little over one month.

Those two are strictly for trading. They are based on rolling futures contracts, so both waste away over time. They lose something like 5% a month just due to the cost of the fund rolling the options contract dates forward. I bought U at about $1.97 and sold a week later for about $2.45. If I was braver I could have made another dollar in about one more week. I will probably get in again as the price nears $3.

The D ETF has dropped really fast and far over the last 3 weeks. Without looking it up I think the price of these securities have gone from about $125 to $75ish recently. I tried to buy atound $100 a few weeks ago. Lucky for me thst order never executed. I had it set up as a 1 day limit order. I'm not real confident that oil will get back to their multi-year lows so the D might not move higher anytime soon.

These two are based on crude oil, not gasoline. They are related but certainly different commodities that don't always move in the same direction.