Robinhood? Good or ...
 
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Robinhood? Good or bad for novice investors?


AdamMoney
Posts: 4
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Joined: 8 months ago

Hey all,

A lot has been said about Robinhood recently, especially during the lockdown earlier this year. I wonder with so many new investors trying their hand at picking stocks during such an uncertain volatile time, do you think this will hurt the majority of these newbies? The huge fluctuations will lead to bad investing habits and greed. The app itself is designed almost like a fun game that encourages users to trade more to unlock different features. Something feels off about it, on the one hand I think that its great that young people are excited about stocks, I'm just concerned that the lack of understanding will burn a lot of people who get in over their head with different financial instruments. What do you all think?

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StockTraderEddie
Posts: 3
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Joined: 8 months ago

I think it can be pretty harmful to noobs. Sure, all investors have to start somewhere but people new to it should not be trading options and other more complex financial assets. I read somewhere that a young investor commited suicide because his account showed a massive negative balance because he didn't understand how it worked. My advice, would be to do your homework, read a bunch of credible books and start with a demo account. Learn it before you start sinking your hard earned into it.

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Josh
Posts: 14
 Josh
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Joined: 10 months ago

Very interesting discussion here, I think beginner investors do need to learn the basics before jumping in but its good to see how many young people are getting involved with the markets. 

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