Robinhood vs the world - any RH traders here?

TimtheEnchanter · Aug 27, 2020

Dazz said:
I am no tso easily entertained but it seems you are, must be for anyone using Wizzzzzzzzzzzzzzzzzzd. As I said RH is useless promotion.

Now you are mocking my name...it is ethnic and spelled as we do in Africa.

Dazz · Aug 27, 2020

focus - is it about RH not your African ego.

ZBZB · Aug 27, 2020

HomelyWizzard said:
No, they are SIPC insured but there is no timeframe for the feds to pay up. (Read my prior post, Sherlock). That is why I like larger more stable firms but the size is no guarantee anyways. Ditto with bank insurance...at least brokers cannot spend your money, banks often can by lending it out to deadbeats, so I always use credit unions!

RH are not trading CDS, or MBS though.

TimtheEnchanter · Aug 27, 2020

Pekelo said:
Why would it? They have a 2K account what is going to be blown in the next 3 weeks, so why would they care about the company's future?

Get real...

Surely not ALL RH traders are $2000 fly-by-nighters! You cannot even trade 1 share of TESLA..

Kammo · Aug 29, 2020

I trade option spreads, so I trade large numbers of contracts. At RH I do not have to pay a per-contract fee, which at other firms comes to maybe 50 cents to 65 cents per contract. Not having to pay that fee can save me hundreds of dollars on any given spread.

2rosy · Aug 29, 2020

They will be shutdown down. They target people with no clue offering matching deposit up to a certain amount. I saw one of there salesman speaking to a group of young people in park.

Dazz · Aug 29, 2020

2rosy said:
They will be shutdown down. They target people with no clue offering matching deposit up to a certain amount. I saw one of there salesman speaking to a group of young people in park.

good to hear2rosy

qlai · Aug 29, 2020

2rosy said:
I saw one of there salesman speaking to a group of young people in park.

RH has salesmen? No way they will be shut down - selling to Muppets is what Wall Street is all about.

2rosy · Aug 30, 2020

qlai said:
RH has salesmen? No way they will be shut down - selling to Muppets is what Wall Street is all about.

Not sure what he was. Maybe a promoter. It was strange. The audience looked at risk

Bad_Badness · Aug 30, 2020

RH seems like a hustle on an epic scale. Selling order flow is a huge deal. Just consider the time line of what I would want as the hustler. Get a huge number of people making small amounts, and not from me. Prepare my algors while this is happening. Wait for a froth period and start alogs for that. Wait for a pull back, and start the second set of algor. Etc.

Knowing the order flow and having HFT algor ability, sounds a lot like being a specialist on the floor.

BTW: I had 3 Bank CD for banks going under in 08. 100K per CD. When the bank failed, I had the money from the FDIC the next business day. Faster than settling a trade. I was VERY surprised, Just a data point.