Boiler Room: The Official Stock Market Discussion

[old pig]

I heard webull has pre market and after hours trading. you should check it out. I'm on etrade and it's cool.

I like the webull app a lot and use it to track shyt but they are relatively new tho...I’m gonna go with tried and true this time...a lot of the trading apps offer PM and AH so that I’m not too worried about although I see etrade charges a very small amount to trade during those times...something like $0.005

 

[RiffRaff]

Feels like a Big Short situation where the hold always seems longer than expected but when/if the levy breaks it will be massive

 

[JetFueledThoughts]

Robinhood is finished. It's kinda sad but they were a small time broker that mostly served retail low dollar investors. They weren't built to deal with a situation like this.

I don’t think they’re ‘finished’ from a business perspective, their signup and onboarding numbers are still shyttin on any other robo-advisors they compete with. But this week may keep them stuck in that ‘robo’ category forever.

At a previous job of mine I spent time chasing and signing some of the premier robos like Stash, Betterment, Wealthfront etc. Robinhood signs up way more users because it made the most basic of trades the most accessible. Betterment/wealthfront is for more serious investors, acorns is almost in another category, and stash doesn’t provide the same control. Robinhood was the 1 app where you could sign up, start w/ under $50 and start buying stakes in Amazon, Apple, Nike, etc. Nowadays I can do that w/ cashapp, Coinbase etc. But this was 2016-‘18

Robinhood is still the most accessible app that gives you a lot of trading functionally, so they’ll continue to have more casual investors and users signing up, but a lot of investors who have became more serious over the last 3-5 years and may use Robinhood are absolutely gone now. That’s where they take the hit and that’s where you’re right. They’re trying to move out of that robo-advisor label into something bigger, and this is gonna probably ruin them in that regard.

This week showed why they couldn’t accommodate that model of servicing so many casual investors at scale. Many of the actual signups rarely check the app (enough to be effective at least) but what happens when they all want the same stock on the same day?

 

[dora_da_destroyer]

tbh i thought we was gonna close at 600+

guess we keep holding

it's a standoff as long as RH and other brokers keep suppressing purchases. yesterday would've been interesting without the brakes being pumped

 

[10bandz]

I don’t think they’re ‘finished’ from a business perspective, their signup and onboarding numbers are still shyttin on any other robo-advisors they compete with. But this week may keep them stuck in that ‘robo’ category forever.

At a previous job of mine I spent time chasing and signing some of the premier robos like Stash, Betterment, Wealthfront etc. Robinhood signs up way more users because it made the most basic of trades the most accessible. Betterment/wealthfront is for more serious investors, acorns is almost in another category, and stash doesn’t provide the same control. Robinhood was the 1 app where you could sign up, start w/ under $50 and start buying stakes in Amazon, Apple, Nike, etc. Nowadays I can do that w/ cashapp, Coinbase etc. But this was 2016-‘18

Robinhood is still the most accessible app that gives you a lot of trading functionally, so they’ll continue to have more casual investors and users signing up, but a lot of investors who have became more serious over the last 3-5 years and may use Robinhood are absolutely gone now. That’s where they take the hit and that’s where you’re right. They’re trying to move out of that robo-advisor label into something bigger, and this is gonna probably ruin them in that regard.

This week showed why they couldn’t accommodate that model of servicing so many casual investors at scale. Many of the actual signups rarely check the app (enough to be effective at least) but what happens when they all want the same stock on the same day?

yup thats me

 

[El_Mero_Mero]

He provides a nice summary and tries to simplify the whole situation.

 

[newarkhiphop]

this dude and some investor friends of his bought $680,000,000 worth of GME

 

[GetRichOrDieTryin]

what exactly is a stop limit?


stop is the price my shares go to sale and limit is the minimum price I'm ok with selling?

 

[-DMP-]

Just initiated my transfer from robin hood to TD ameritrade. hope it doesnt take too long

 

[FaTaL]

Just initiated my transfer from robin hood to TD ameritrade. hope it doesnt take too long

What’s the exact process?
Never mind

75 bucks

 

[Eternal Tecate]

what exactly is a stop limit?


stop is the price my shares go to sale and limit is the minimum price I'm ok with selling?

limit is the price that triggers the sell. it's weird and redundant but i'm sure it's there for a reason someone more experienced than me knows.

so you set a limit at 275 to trigger a sell at 270 for example. the limit is the trigger for the order.

 

[ADevilYouKhow]

r/WallStreetBets administrator pens open letter to CNBC about hedge fund leverage

 

[Eternal Tecate]

Just initiated my transfer from robin hood to TD ameritrade. hope it doesnt take too long

i opened a TD account yesterday during the bullshyt and transferred in money today to be ready for monday

 

[OSUBaneBrowns]

What if everyone at the casino figured out a way to cheat the system inside the system and everyone started winning all at the same time ? As the CEO you're watching all your capital vanishing in an alarming rate? As a business you have capital requirements you have to meet to legally operate and you don't have infinite capital. You would just shrug your shoulders and go insolvent?

There were guard rails in their user agreement that accounted for this and he exercised them. The users agreed to it when they signed up to use their service. The legality of it will be answered in court but I'm thinking his actions will be upheld. These are the type of things businesses don't directly foresee happening but put wording in their user agreements to account for them.

I’ve been out of the investment game for about two years but I knew this shyt was going to happen. Robinhood was not built for that much traffic and volume in a short period of time and got caught with their pants down. I’m in the financial sector and they are a so many regulatory requirements for investments and capital that it wouldn’t surprised me that they had to restrict some trading because they didn’t have to cash to back it up. It sucks that that they just got this infusion of new customers who just got a bad taste in their mouth and probably will not do business with them again.

I also hope that people are going to do their due diligence with investments instead of just following some guys on Reddit who got one major trade right. The stock market is just like the pimp game and you better get out while you’re ahead or your going to be stripped naked out here on these streets.

 

[choc_cardigan]

It might be undeniably time to get in on this.

Thats why I was playing devils advocate with you. Fundamental research is king and in normal times what RH did probably wouldn't even make that much noise.


But these aren't normal times due to the pandemic. Stocks like Tesla and hype and fever around it shows its not your normal stock. And this squeeze being pushed by a bunch of people either bored at home with time and smartphones or someone who really needs money because if covid 19 shows this is not your normal squeeze. One day we are going to watch this stock go towards 1000.