Getting started with Investments & Robinhood App
May 11, 2021
13 Comments
Disclaimer -New to investments.
Installed Robinhood. Started with $50 (i know it’s funny, when people are trading in thousands & millions).
Bought 3 stocks of $10 each (apparently my only research was green vs red graph shown in the app)
Went through youtube videos all weekend. It was too much to absorb.
How can I develop my interest and use the app efficiently? To me it looks like the app does most of the research, even with the recommendation of whether or not to buy/hold/trade a stock. I am wondering how do people make big investments here? Whats the calculation and logic behind trading?
I am fine to go up-to $2000 for first time, iff I know what I am doing.
comments
Cases in point:
- lack of phone call support. Anything I need from them takes atleast a week of turnaround time on email with back and forth.
- estimated tax calculations aren't available once you really start trading and selling.
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Could you recommend some index funds you're in these days?
2. 80% of your investment should be low risk and long term, index funds the best.
3. You can play with the left 20% on high risk high growth bets. If you make profit on it, redistribution the 80% of profit to low risk long term play.
It follows the real stock market and allows you to set rules like small cap stocks only or ways to help learn risk safely.
Try it out!