OK so you’ve signed up with Robinhood. You’ve started trading. Commission free feels great. You’re not getting dinged by fees and you’re making money. You wonder why anyone would trade with the larger brokerage firms. $4 per trade is for suckers.
But wait. Things begin to go wrong. The buy you put in executes for $.20 more than when you placed it. The price graphs are slow to update and you are missing buy and sell points. Prices are changing rapidly and while you try to click through the menus quickly, your missing trades left and right. One time, the app straight crashed while you were trying to get out of a losing trade. That one hurt.
All of these things(and more) are issues with Robinhood. I’ve heard tirades the internet over about the lost money caused by Robinhood. Let’s go into each in detail and how you can mitigate them.
Buys execute above current price:
Missing Buy and Sell Points:
App is Clunky:
Robinhood has its pros and cos. I would argue it is a much better swing trading platform than it is a day trading one. If your serious about maximizing your trades and having instantaneous buys and sells, I would suggest a more robust platform. This post was to warn you of the issues you may face when starting to trade. The solutions above are just the ones I came up with when I was banging my head against the wall. If you look around, other traders have many more good ways to over come the limitations. All-in-all I enjoy using Robinhood as a non-serious, non-white knuckle, savings stock account. I have done some basic swing trading with stocks like JDST and JNUG but mostly I just add monthly and Dollar-Cost-Average my stock acquisitions.
Id love to hear from you down below in the comments. What are your experiences with Robinhood How did you over come the issues? Thanks for reading and stay furious!