How To Find New Stocks On Robinhood

Although I've made my opinion clear, I still become a lot of questions near using Robinhood for penny stocks.

If yous're looking for a banker, you want to detect the best fit for your strategy and account, right? Robinhood'southward offer of no commissions and gratis stock might sound enticing.

I wouldn't fall for the bait. And if you want to employ Robinhood for penny stocks trading, at that place'due south a key fact you lot should know…

There's a lot to consider before y'all cull a banker.

Over the years, I've used dozens of brokers. I've tried brokers for shorting, some with cheap commissions, and the ones with the highest fees.

I don't get paid by any brokers that I utilize. The broker y'all choose is your business. I'm just hither to help yous sympathise how to make amend choices for yourself.

If you've come to me for guidance on the best platform for penny stocks, you're partially in luck. This Robinhood review volition tell you lot why I think it's better to look elsewhere.

Table of Contents

1 Are There Penny Stocks on Robinhood?
two Is Robinhood Adept for Penny Stocks?
3 What Are the Downsides of Trading Penny Stocks on Robinhood?
4 What's the Truth About Complimentary Penny Stocks on Robinhood?
5 How to Find Penny Stocks on Robinhood
6 Are In that location Whatever Penny Stocks You Should Watch on Robinhood?
vii Why I Don't Trade Penny Stocks on Robinhood
- 7.1 Tin You Short Sell on Robinhood?
8 Frequently Asked Questions Most Robinhood Penny Stocks
- 8.1 Can You lot Actually Make Money Trading Penny Stocks?
- 8.2 Is the Robinhood App Legit?
- 8.3 Is Robinhood Expert for Beginners?
- viii.four How Do I Go My Coin out of Robinhood?
nine Trading Claiming

Are There Penny Stocks on Robinhood?

Robinhood is an online broker that'south been around since 2013. They branded themselves as a commission-complimentary banker and brought in waves of traders. 2020 has been especially expert to them.

A lot of these new users on Robinhood are the penny stock newbies you'll find all over Reddit. These Robinhood fans hype penny stocks all day in Discord conversation rooms…

But they clearly don't go why penny stocks are attractive.

So let'southward clear the air on what penny stocks are. These are stocks that merchandise for $5 per share or less. This includes OTC pinkish sheets trading at a fraction of a penny and Nasdaq stocks trading at $4.99.

But Robinhood users miss out on a big part of penny stocking. They can't buy penny stocks that list on the OTC markets. These are the stocks I've fabricated millions on.*

When it comes to using Robinhood for penny stocks, I gauge that many newbies on the platforms don't know what OTC stocks are. If they did — and understand the potential in this niche — they'd probably look for another broker.

But I'd bet the Robinhood penny stock fans on Reddit would argue anyway.

At present, permit's get this nagging question out of the way…

(*These results are not typical. Private results volition vary. Most traders lose money. My top students take the benefit of many years of hard work and dedication. Trading is inherently risky. Always practice your due diligence and never take chances more than you tin can afford to lose.)

Is Robinhood Practiced for Penny Stocks?

tim sykes grand canyon — © Millionaire Media, LLC

I trade and teach people to trade penny stocks. Although they tin can be risky, they can potentially assist grow small accounts chop-chop … As long as you ignore the hype, focus on the process, and aim for singles every merchandise.

I get that Robinhood's committee-free platform sounds great for traders with minor accounts. Merely don't be fooled past commission-costless brokers. They gotta become coin somewhere…

Robinhood allegedly saves money by selling their order menstruum. And from what I hear, its execution speed doesn't stack up to the competition. To me, that's two big counts against trading penny stocks on Robinhood.

When you're dealing with penny stock volatility, ho-hum executions can price you lot big.

(If you don't know why volatility can be a practiced thing, bank check out my NO-COST "Volatility Survival Guide." Information technology's essential for unpredictable markets like 2020.)

Simply the main reason I wouldn't recommend Robinhood for penny stocks is because you lot can't access the OTC markets. That's where you'll find some of the biggest gainers in the penny stock world.

To all those using #Robinhood and #webull missing out on the absolutely amazing runups on $ALYI $AABB $BBRW $BRTXQ $IGEN $AXXA $SITS $ZICX $WKSP wake the hell upwardly & realize you're missing out on the plays that can truly abound your account EXPONENTIALLY! Read https://t.co/Ens8xBEzdW

— Timothy Sykes (@timothysykes) August 31, 2020

What Are the Downsides of Trading Penny Stocks on Robinhood?

Permit'south get to the meat.

Robinhood stock trading is popular among newbies … until they learn amend.

So what's less than ideal on Robinhood, in my opinion?

Premarket and after-hours trading is very express. I don't necessarily trade much at those times either. It'south not very liquid, and I similar to be able to get in and out of a position rapidly. I never recommend information technology for newer traders. But I similar to accept the option.

But here'south the kicker: OTCs have been hot this twelvemonth. And if you've been trading stocks on Robinhood, you're missing these opportunities. You tin can't trade OTC stocks on Robinhood. That'south an entire group of volatile penny stocks y'all tin can't touch with this banker.

If you follow any of my patterns or my Profit.ly contour, this is a massive limitation. Why limit your opportunities from some of the hottest patterns and trades?

And I hear horror stories from students about bad executions. This tin can pb to massive losses in the long run. I just don't think it's worth it.

If you want to be in this game for the long haul, care for information technology like a business. Making random trades from a limited pool of penny stocks on your phone? I know y'all tin practice better.

Starting time building a better foundation for approaching the markets with my 30-Solar day Bootcamp. You go from nuts to patterns and beyond in just thirty days. Go in my Bootcamp at present!

What'southward the Truth Almost Free Penny Stocks on Robinhood?

the truth about robinhood free penny stocks — © Millionaire Media, LLC

Robinhood free stocks are the budget broker equivalent of a free lunch. And as those of us with old-schoolhouse parents know, in that location's no such thing every bit a free dejeuner.

Again, it'due south crucial to read the small fine print. Robinhood claims y'all can get a gratuitous stock with a value of up to $200. What are the actual chances of that? Permit'south check out Robinhood's free stock distribution under its terms and conditions:

There'south a 98% chance of the stock bonus having a value of $ii.50–$10
Approximately a i% chance of the stock bonus having a value of $10–$50
And approximately a 1% chance of the stock bonus having a value of $50–$200

WOW!

And so maybe you save $10 in commissions and get a $10 'free' stock … Simply call back how speedily that could all be wiped out past one terrible execution.

Recall, yous get what y'all pay for…

How to Find Penny Stocks on Robinhood

It'southward essential to prepare and use the correct tools in trading. Doing both won't guarantee y'all annihilation … except understand the market amend and make smarter trading decisions.

On Robinhood'due south main page, there are 'Pop Lists' and 'Pinnacle Movers' with a number of stocks to fit those categories.

The trouble?

Too many new traders take no idea how to trade them. At that place are no scanners on Robinhood'south platform, then you can be tempted to trade stocks they select.

That's not how I trade or what I teach. I've made over $6 million trading penny stocks. I have six millionaire Trading Challenge students and many more than in the six figures.*

supernova placement

None of us got to where we are today past following someone else's stock picks. You have to be cocky-sufficient and acquire to think for yourself. Use the right tools for the job.

I utilize StocksToTrade. I helped blueprint this trading and scanning platform to accommodate my penny stock strategies. I utilise this tool every day to notice the hottest stocks to trade. It has 40+ built-in scanners, excellent charts, and then much more.

And the other part of trading? You demand a strategy that suits you. Start with my 30-Twenty-four hours Bootcamp so y'all tin learn the marketplace basics, and quit chasing random stocks.

Are There Any Penny Stocks Y'all Should Lookout man on Robinhood?

I constantly run scans looking for stocks that fit my patterns. I don't look for stocks that I can buy through my banker.

Your broker exists to assistance yous merchandise the stocks you lot want to merchandise. A practiced broker shouldn't get in the way of a good trade.

Why I Don't Trade Penny Stocks on Robinhood

Why don't I merchandise on Robinhood? I've found brokers that better suit my needs. You need to do the same. I can't tell you lot which broker to apply. That comes down to your strategy and needs. But solely picking a banker for no commissions? Dig deeper.

I think brokers similar Robinhood lures newbies in with gamified platforms. Trading is not a game. And it turns out, there's a cost for committee-free trading.

There are no shortcuts in the stock market. Anyone who says there is? They're full of BS. I'm hither to teach you what I've learned in over twenty years of trading. Information technology's one fashion you tin can set up for boxing in the markets.

Remember trading is a fucken battlefield, so many snowflakes the unethical promoters & Robinhood just use & throws out because they weren't prepared for the harsh realities of financial warfare. I'thousand Not hither to exist your friend, I teach to ensure your survival/to aid yous succeed!

— Timothy Sykes (@timothysykes) Oct xiv, 2020

Too many people evidence up on this battlefield with a butter knife. Learn this at present:

The marketplace doesn't care about you lot, what y'all think, or what you lot want. And it definitely doesn't owe you annihilation.

Go in with your optics open and have a well-conceived trading program. Be prepared for battle in an industry full of scammers!

Newbie traders beware. And if yous want to short on Robinhood, in that location'southward more than bad news…

Can Yous Short Sell on Robinhood?

Nope. To short, you sell borrowed shares from a broker. You then buy to cover to close your position and render the shares to your broker.

I don't recommend that new traders try to short sell. Information technology's highly risky, specially in unpredictable markets.

Likewise many newbies blindly brusk any penny stock that's upward. What they don't realize is that this hype-driven brusk book can lead to a short squeeze. If you don't cut losses quickly, you lot can actually lose more money than yous place on a merchandise.

I don't curt much these days. Only some of my students do, and it's not possible through Robinhood.

If you're serious about making trading work for your life, be serious almost the tools you utilize. That includes your brokers. Do the research to find the 1 that best fits your strategy. And I'll warn you now: there's no such thing equally a perfect broker.

I use Due east-Trade and Interactive Brokers. No, I'm non paid past them to tell you that. That'south only who I utilise. I call back they just suck the least.

In an industry full of scammers, I put my money where I feel it'southward the safest. I encourage you to do the aforementioned.

Frequently Asked Questions About Robinhood Penny Stocks

Can Yous Actually Brand Money Trading Penny Stocks?

The short answer: aye. A broker is your vehicle, but you're in the commuter's seat. No matter how good or bad your banker is, yous take to study, gear up, and know how to brand intelligent trades.

Is the Robinhood App Legit?

Robinhood's streamlined app is one of its main draws. I recollect it'southward one reason so many newbies are drawn to this broker. I think it makes trading seem similar a video game … But when you lot accident upwards your account, it's much tougher to come back.

Is Robinhood Good for Beginners?

Robinhood may be popular with newbie traders, but that doesn't mean I think it's practiced for them. Less than best executions, limited stock pick, and poor customer service are some of the reports I hear from traders. If you're serious most trading, do your inquiry before choosing a broker.

How Practise I Go My Money out of Robinhood?

It'southward just like any other broker. You only look for your funds to settle and transfer your money to your linked bank business relationship.

Trading Challenge

I started my Trading Claiming so I could shine a calorie-free on the dark globe of penny stocks.

I LOVE penny stocks. I've made millions trading them.* But I had to larn everything I now know on my own. It was harder than information technology should take been. I think everyone should have the opportunity to find financial liberty … as long equally they're willing to put in the piece of work.

It doesn't come piece of cake. But I tin help yous acquire this niche faster by sharing what I've learned in twenty+ years of trading and 10+ years of didactics.

Ready to have your trading to the next level? Join an crawly customs of dedicated traders who believe in sharing knowledge. Apply for my Trading Challenge.

Source: https://www.timothysykes.com/blog/robinhood-penny-stocks/

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