Robinhood Caps Maximum Holdings In 36 Stocks To Just One Share

VicBee said:
Not my problem. A brokerage offers and I use their service. Their inability to fulfill their service is their problem. Clearly RH was underfunded and couldn't meet demand until their biggest customer bailed them out. But that's not the case for Schwab, or is it? Either way, it's a structural problem that needs to be addressed at the political level, and undue influence by the financiers of hedge funds, which needs to be resolved in the courts.
More...
Huh if a company is underfunded it needs to be addressed at the political level? o_O
 
SunTrader said:
Huh if a company is underfunded it needs to be addressed at the political level? o_O
More...
Politicians are people who argue for or against new laws modifying existing regulations. When a company (pretending to go ipo no less) fails to protect itself and its clients from adverse market conditions, either due to incompetence or lack of proper regulations, it behooves politicians to determine what must be done to prevent such from occurring again.

Are we OK there?
 
VicBee said:
Politicians are people who argue for or against new laws modifying existing regulations. When a company (pretending to go ipo no less) fails to protect itself and its clients from adverse market conditions, either due to incompetence or lack of proper regulations, it behooves politicians to determine what must be done to prevent such from occurring again.

Are we OK there?
More...
No we are not, but I'll leave it at that. "Bigger fish to fry" this morning.
 
VicBee said:
That is simply not true. I was monitoring AMC from TOS while all this was happening because I had bought 10k shares a few hours earlier and was expecting a rapid rise at market opening. Share price went from 8 to 16 in 15 minutes, triggering 2 breakers in that time when the newswires popped stating that RH, TD and IB had stopped the ability to buy shares. At that moment, AMC share price dropped from 16 to 7 in 45 minutes and triggered another 2 or 3 breakers. That's cause-consequence. Later, the price fluctuated back in the 10 to 13 range, because TD (my brokerage) was allowing limited purchases while setting breakers off every time the price rose by $1, effectively throttling the buy side and successfully controlling market activity, which isn't their job.

I bought 10k shares on margin several hours before all this blew up, with the intention to sell at profit several hours later. A simple day trade. However, TD's sudden decision leaves me hanging on margin with a controlled share price far below my buy.
Is this on me for taking risk or on TD for suddenly altering the rules of the game? And why or who pushed the brokerages to impose sudden and drastic restrictions on the buy side? You just need to follow the trail of who stands to benefit most from this.
More...


The answer to all of this is not to trade on margin if you can't accept the risk. Over 22 years of trading margin has fucked me a couple of times. If you're trading on someone else's money...they have discretion. Im not saying what happened with RH is good but when you trade on margin you take higher risk obviously. It sucks...but you could have simply choose to trade other instruments. Take responsibility or move to a better house.
 
nyxtrader said:
The answer to all of this is not to trade on margin if you can't accept the risk. Over 22 years of trading margin has fucked me a couple of times. If you're trading on someone else's money...they have discretion. Im not saying what happened with RH is good but when you trade on margin you take higher risk obviously. It sucks...but you could have simply choose to trade other instruments. Take responsibility or move to a better house.
More...
So what you're saying is, it's on me. TD has no accountability, move on. It's like I buy a car, find defects after it rolls out of the dealership but forget asking for reparation, shit happens?
 
VicBee said:
So what you're saying is, it's on me. TD has no accountability, move on. It's like I buy a car, find defects after it rolls out of the dealership but forget asking for reparation, shit happens?
More...

What are you upset about? That they limited trading on a few tickers?
 
Specterx said:
Robinhood is emblematic of the gradual degradation of financial markets into a low-rent casino. There's not even the pretense that what's going on is serious business.

My opinion is that the industry is shooting itself in the foot right now, and many changes will be implemented after the next thundering crash. Some or all of: a transaction tax, PFOF ban, restrictions on who can have a brokerage account (minimum account size, or accredited investors only), and bans on retail trading of options and futures.
More...
You mean like Reg 2025 or PDT was suppose to fix? We tried that, apparently it failed!
 
VicBee said:
So what you're saying is, it's on me. TD has no accountability, move on. It's like I buy a car, find defects after it rolls out of the dealership but forget asking for reparation, shit happens?
More...

You know we could make a movie about this...Run it at AMC theaters, once they open. We can call it "Margin Call"...

 
You must log in or register to reply here.
Back
Top