Getting started with Investments & Robinhood App

Amazon
gamerLife1

Go to company page Amazon

gamerLife1
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.

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TOP 13 Comments
  • Yahoo
    txjysb

    Go to company page Yahoo

    txjysb
    I'd say move out from Robinhood.. they aren't as mature a platform as fidelity, or IBKR.
    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.
    -
    May 11, 2021 2
  • Just do indexes and be patient
    May 11, 2021 0
  • Citadel
    BrutеForce

    Go to company page Citadel

    BrutеForce
    Even after years and years in finance, I still think index funds are the best investments. Chill, low involvement, relatively safe. Just ignore all the hype trains and people pumping their cryptos and Reddit stocks.
    May 11, 2021 1
  • New
    GoyR31

    New

    GoyR31
    1. Choose a real broker like fidelity/Charles Schwab/ IBKR pro
    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.
    May 22, 2021 0
  • Have you tried investopedias simulator? I found it to be alot of fun w friends to make it a competition and learn with 0 risk
    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!
    May 11, 2021 1