Robinhood Outage All Day

[trdes]

• You are being blinded by hindsight bias.
• The trades you think you would have made due to today's market action you would not have made if you had access to your account.
• Don't fret on lost opportunities due to hindsight bias.
• Hindsight is always 20/20.

How am I being blinded. Let me give you some bulletin points back

* I don't have robinhood, therefore I wasn't locked out of my account.
* I did in fact go long today, so if I was locked out I wouldn't of been able to do something I already did therefore this is not a factual statement on your part
* I didn't lose opportunities because I wasn't locked out of my account.

Hindsight is 20/20 that's the only one I'll give you.


EDIT: nm, not even worth it.

 

[KINGOFSHORTS]

all day? and i thought tda was unreliable with 1h outages once or twice a year. IB = pretty much flawless

yeah but at least you can call the desk and execute a trade.

RH customers are screwed. Heard that the database got corrupted and backups wont restore correctly.

 

[zoned_post_meridiem]

Not surprised at all. I've been pounding the table in these Robinhood threads over the past few years about how any serious trader would be a moron to put serious money with them - free commissions or no, though now with even IB offering zero comms, RH has no value proposition whatsoever.

Sure enough, their systems crash right along with the market...

Yep -- I was testing a strategy on IB's paper account today (which likely is much less robust than their main platform), and even that performed flawlessly. I get the appeal of RH -- it's an app, you can gamble a few hundred here and there -- but any kind of serious money has no place there.

 

[helpme_please]

Does Robinhood offer futures trading? If yes, those who shorted big last Friday will be dead by today.

 

[athlonmank8]

Does Robinhood offer futures trading? If yes, those who shorted big last Friday will be dead by today.

they dont based on what ive read

 

[wiesman02]

yeah but at least you can call the desk and execute a trade.

RH customers are screwed. Heard that the database got corrupted and backups wont restore correctly.

not a robinhood customer, but out of curiosity, what does that mean for RH brokerage accounts?

 

[ajacobson]

1002 ET - Another brokerage has reported an outage. Robinhood Markets, which offers investors commission-free trading, is experiencing a system-wide outage affecting its web and mobile apps, according to its website. As volatile markets sparked a jump in activity among retail investors, companies including Vanguard, Schwab and Fidelity have all reported various issues ranging from technical glitches that prevented users from logging onto their accounts to an error on Fidelity’s platform that caused 401(k) accounts to show a $0 balance. (akane.otani@wsj.com)

 

[AKUMATOTENSHI]

Wouldn't be surprised if this was to prevent dumb money from benefiting from an up day.

I remember a similar occurance back in the crash of 2008. Some trades were wer honored at the very bottom of the flash crash. No sense in letting the little guys catch a break. It won't be the last time either. FINRA and the SEC may impose a fine but not one red cent will be seen by the users of the Robin Hood platforms. Keep those pleebian wage monkeys in their place.

Akuma

 

[d08]

You have another account with funds that you can hedge with an inversely correlated instrument with the position that you can't access due to the outage.

So I'd be trading with only half my funds for that 0.1% chance of a outage? It could work with futures but not with equities.

 

[d08]

Does Robinhood offer futures trading? If yes, those who shorted big last Friday will be dead by today.

RH traders don't even know what futures are. That's their level of knowledge.