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Old 09-25-2018, 09:26 AM
Fermion Fermion is online now
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Broke $4000 today! ($4039 actually)

So I have reached my first mark of 60% gain for the year (in about 3 months). Nine more times of 60% gain and the account has $250,000 in it. Easy, right?


Next stop, $6400.
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Old 10-01-2018, 01:56 PM
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Bobcat In The Woods Bobcat In The Woods is offline
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So here's a question.

How do taxes work through RobinHood? Do they keep a record of your profits for you, or do you just have to keep a running tally?
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Old 10-01-2018, 05:01 PM
Fermion Fermion is online now
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Quote:
Originally Posted by Bobcat In The Woods View Post
So here's a question.

How do taxes work through RobinHood? Do they keep a record of your profits for you, or do you just have to keep a running tally?
They are supposed to have a way to download all of your transactions into a tax program (Turbo Tax I think) and then it is just simply let the program sort all that out. I will know overall how much gain I have though because I will be all cash for like the last two weeks of December. If I have $5000 in the account at the end of this year I will know I better be reporting $2500 in short term capital gains.

Currently at $4160 and climbing.
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Old 10-01-2018, 08:56 PM
rriley rriley is offline
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Quote:
Originally Posted by Bobcat In The Woods View Post
So here's a question.

How do taxes work through RobinHood? Do they keep a record of your profits for you, or do you just have to keep a running tally?


All brokerage houses send you a 1099 at the end of the year.
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Old 10-18-2018, 10:42 AM
Fermion Fermion is online now
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I had 200 shares of Endocyte in my RH account purchased at $17 (they did a offering at $18.50 that got filled so I felt good with the price). Today it got bought out for $24 so now my RH is over $5,000 (all cash except for the free stocks which I don't plan to sell).

That is over 2 ounces of gold made in 4 months by clicking some buttons.
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Old 11-09-2018, 11:56 AM
Fermion Fermion is online now
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Did a little bit of buying and selling during the past few days of market volatility and now the little $2500 RobinHood account is over $6,000!

$3500 gain on $2500 is a 140% return, so I have slaughtered the needed 60% return for 2018 to keep on track for turning $2500 into $250,000 in 10 years.

Currently the account is all cash except for the bonus stocks which I never plan to sell or trade (most of them are stocks I would have never bought anyway).

It is still a fun experiment and I don't spend more than a couple minutes a week on it....I actually spend twice as much time typing these updates.
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Old 12-09-2018, 08:57 AM
jaferwaleed jaferwaleed is offline
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Is your experience with the robinhood still going great as in the start? I didn't see any updates from you so curious that how did it go? I too am looking for a cheap platform.
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Old 12-09-2018, 11:16 AM
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Fermion, well, done! (just hope you're not a shill for Robinhood)

Now put all your cash in that acct into IAG. You can thank me later.
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Old 12-09-2018, 12:18 PM
Cat wrangler Cat wrangler is online now
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Is there a minimum to start? Not rolling in dough here so it would be small potatoes to start.
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Old 12-09-2018, 05:22 PM
rriley rriley is offline
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Quote:
Originally Posted by jaferwaleed View Post
Is your experience with the robinhood still going great as in the start? I didn't see any updates from you so curious that how did it go? I too am looking for a cheap platform.
Fermion started posting on this subject on July 1 at which time the S&P Index was 2704.

His most recent post was on November 9 when the S&P Index was 2781 so the S&P rose by 77 points during that time. 77 Points in the S&P is a pretty good increase.

Friday, December 7, the S&P closed at 2633, a loss of 148 points from November 9, the date of Fermion's last post. 148 points in the S&P is a huge move.

It is possible that Fermion did well during the rally from 2704 to 2781, the period from his first post to his last post. Anyone would do well during that market move. It is likely that the break from 2781 down to 2633 was painful.

When you are trading you need all the information that you can get; Robinhood provides very little analytical info compared to some of the other alternatives. Sometimes saving a few dollars on commissions is not really a savings. Most traders rely on up to date, good quality information in order to manage their trading accounts. Cheap platforms are not worth it.

And one more thing. Markets trending upward are great when you are long stocks but you need to have a plan for when the market turns.
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Old 12-09-2018, 06:55 PM
PalmettoTree PalmettoTree is offline
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I never could tell much. Most of the balance was always in cash. I could not tell if he was just holding a few shares and adding cash to his account. I never saw the point except to hawk RobinHood.
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Old 12-12-2018, 09:08 PM
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Guys, I am still here lol. Sorry for the lack of updates, wasn't really sure anyone was reading the thread and got lazy. A couple of points:

1) I started the account with $2500 and that is all of the money that will ever go into the account. Either it goes to $250,000 or it goes bust. I am going to have to pay taxes on it but I am going to do that from outside funds. The reason for this is that people have different tax rates and if I took money out for a 33% bracket or a 10% bracket it would skew the results. Robinhood doesn't have IRA accounts otherwise that would have been best.

2) The account is usually in cash because I am not really interested in holding things long term in it. Lets face it, with $2500 start, you could only buy a few shares. If you held them for a year and the market went up 7%, you would have $2675, which is nice and all (and safer!) but who is going to find that really interesting?

3) Robinhood lets you trade small changes in stock value with no real penalty. I can buy 100 shares of XYZ corp for $50 and sell it 30 min later for $50.25, booking a $25 profit. No commission fee. If I did this in E-trade at $6.95 each way, I would pay $13.90 in commission on my $25 gain, which is a fee of over 55%! Anyone want to pay 55% advisor fees?

4) I don't work for Robinhood. I was/am excited about them and I do get happy when I get a free stock but so far the few free stocks I have gotten have added up to a grand total of like $40 (I haven't sold any of them, they are still listed in the screenshots I post).

Anyway, I am currently at $6532, having sidestepped the recent decline handily. I actually made quite a tidy profit on each of the down days by buying the dip and selling the recovery. I did this on Celgene and Gilead as they followed the market but had a greater move each direction. It wasn't perfect though. I missed the bottoms and tops but got some of the juicy middle. If I could figure out a easy way to post my trades real time I would, but I am not dedicating more than a few minutes a week to this activity. Maybe when the account gets to $100,000 I will give it more time
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Old 12-12-2018, 09:25 PM
Fermion Fermion is online now
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Ok, I went back to the history tab and took a screenshot of some recent trades to show what I have been doing during this market decline (I like to think of it as volatility opportunity )

As you can see in the screenshot, I was doing small trades in Gilead and Celgene. 90 shares a pop as that is all I can afford in the account. Even though the stocks were falling, by having a set price where I was willing to buy them, I was able to still buy and sell for a profit, even on a day when the market dropped 600 points.

Now you will also see that Celgene and Gilead moved quite a bit higher after I sold. I try to not beat myself up on that as I feel it is like asking to see the river card after you have folded your hand and the winner is claiming the pot. I am happy with my little gains because they add up. I also try not to chase a stock and am willing to either let it come to me or just let it go. This keeps me from buying Gilead when it is at $80 and holding it as it drops back to $66.

I mean this all takes a lot of luck you realize. One day Gilead could announce that five of their main drugs are being black labeled and the CEO has fled to Uzbekibekistanstan with the secretary and $20 billion of company money. It is much more likely though that people keep getting sick and the drug companies keep raking in the money.

Anyway, here are some of the trades I did in the past week:
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Old 12-12-2018, 10:39 PM
rriley rriley is offline
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Quote:
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Guys, I am still here lol. Sorry for the lack of updates, wasn't really sure anyone was reading the thread and got lazy.
Glad you survived that market collapse, there are some folks around who didn't make it.

Keep up the good work!
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Old 12-13-2018, 04:58 AM
PalmettoTree PalmettoTree is offline
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Glad you survived that market collapse, there are some folks around who didn't make it.

Keep up the good work!
Hats off to him but let's make no mistake about it. That was all his doing and nothing to do with RobinHood.
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Old 01-27-2019, 03:38 PM
Fermion Fermion is online now
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Update:

Well, funny story here. I was going to update this to post that I haven't done much with Robinhood while we have been out of cell reception range doing snowmobile rides deep in the mountains but it looks like one time I was on top of a mountain I was actually able to get a trade out! I didn't think it had gone through, so imagine my surprise today to find it had and my Robinhood account is up $400! This does make it look a bit too easy to make money...I mean if you can trade while carving the side of a mountain in 3 feet of fresh powder...


Currently just below $6900. It has now been about six months since I started the account with $2500.

Below is where I think I placed the trade...while my wife in front of me is considering the slope of the mountain in front of her :-)
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Old 01-28-2019, 03:04 PM
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I guess I don't see that as a lot of money. About what my younger daughter made working part time over the summer. So your other career must be paying for the lift tickets.

Good luck with it.
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Old 01-28-2019, 05:17 PM
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I guess I don't see that as a lot of money. About what my younger daughter made working part time over the summer. So your other career must be paying for the lift tickets.

Good luck with it.
He was on snow machine, not skiing.
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Old 01-28-2019, 06:04 PM
rriley rriley is offline
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Quote:
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I guess I don't see that as a lot of money. About what my younger daughter made working part time over the summer. So your other career must be paying for the lift tickets.

Trading stock is not the same as your daughter working part time.

If you think in percentages, his annualized ROI is good, especially during a time period when many people lost money in stocks.

And...little traders who make a little money can turn into big traders who make a lot of money.
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Old 01-29-2019, 10:11 AM
InOmaha InOmaha is online now
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This sort of thing has gotten cheaper, more mobile, and with less middlemen over time. So that's a good thing in my book. I may look into this tool even though I don't invest in a manner that needs it much; but every bit helps. I would have saved $15-20 last year. If it works, is stable, and isn't sold to a big bank soon, I'll try it and maybe recommend it to others.

I don't use other people's analysis tools or insights as I've developed my own over the years reading corporate financial statements. Most of the day trading type of stocks wouldn't make it past my initial screening algorithms just due to my personal style. Neither are necessarily bad; just different. I'm the slow boring type who won't even bother to look at things when I'm doing stuff with my family. I don't answer the phone either.

I'm limited in my investments due to government rules based on my line of work (unlike congress). So day trading would be a compliance paperwork nightmare for me. That's likely shifted my investment thought process significantly over the decades.
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