/biz/ - Business & Finance

Why is everyone so split on using the RobinHood app for trading when starting off?

We literally have a RH thread on here at all times and the only time people talk shit about it is outside of the thread.

Are half of us shills or something?

>>885829
>borrow money
>move to another country with your cash
>never pay back loan

here just made it simple

>>833423
>Is Forex as simple as it looks
Simple in theory, not so much in pratice. Take your time to find a method that works for you, STICK TO YOUR METHOD. Use stops, but don't put them too tight. Don't get anal about the typical 2:1 ratio, as long as you have a good system (and eye for spotting where to enter), 1:1 is probably good enough after you learn a bit. Don't get into losing streaks.

>it seems easier then the stock market
Totally. It's much more technically oriented - watch out for news/announcements, though. Very important fundamental to keep in mind. Someone says something, currency can swing wildly and not recover for days. You can use this to your advantage, but it's not for beginners (like me or you). If you have a really good account for forex trading specifically, commission-based, you can get in and out in a news event, and make money. But it's essentially gambling at that point. Don't get emotionally invested like that.

>Is there actually any money in it?
Absolutely. You don't need to "beat the market", you just get in, get out. It's easy! But difficult. Practice good money management as soon as your account size allows it (ideally immediately, but unless you start with like $10k, that's not real helpful as far as I'm concerned).

>>833642
Pic related. Forex doesn't really have "insider trading". You're just exchanging and holding money. Unless the FED chairman himself puts $1 billion on red, and then announces something, I don't see how it could work out to be "insider"-anything.

>>833644
>20% a trade
Haha, oh wow. I do risk closer to 10%, but my account is still tiny (just started real money). I make sure to only pick the ones I really believe in though, and focus on making sure the trade is safe, more than scoring a good one. While you may lose trades, gaining only 1% for it, it's still a lot better than losing money. Don't lose money, but when you do set a trade up, consider that money lost - until you set a risk-free stop level.

>>811447
>predicted 12 of the last 3 recessions

>>461135
Shit sounds like a circle jerk of a book.