I am not by any means a "day trader" or "stock aficionado" or anything of the sort. My wife and I dabble in trading, and are trying to learn the stock market. I've made some money off of stocks, but only in industries I know or pay attention to. For example, I am a Tesla fan. I own a Tesla Model S, and it's one of my most prized possessions. I pay close attention to the company and what they are releasing/doing. Because I pay so much attention to all aspects of the company, I also have stocks in Tesla and I monitor how they are doing.
I also tend to buy stocks in Tech companies that have to do with what I know, or what I am interested in. I monitor the market and see what the industry standards are and how they are effecting different stocks and markets.
Back to the point of this post, Robinhood. Robinhood is an app that was launched a few years ago, back in 2015 I believe. Maybe even before that. It is an app that disrupted stock trading, at least in my mind. They allowed people to trade without any commission charges, and with a free account. No fees whatsoever.
Since it's initial start, they have grown to allow Cryptocurrencies, ETFs, and options. Personally, I only use it for individual stocks. In the beginning you would place an order, but it would take until the close of the market to actually execute, however now it is immediate. They also have different levels of membership, where one is a paid membership and the other is a free membership.
The app itself is very easy to navigate and use, and it's easy on the eyes. Everything seems very intuitive, minus the changing of order types. Much like other brokerages, and apps, you can place 4 types of sell or buy orders - Market, Limit, Stop Loss, Stop Limit. You can also sign up for the option to create "Trade Options", which gives you a little bit more granularity on what you want to do.
Choose Your Own Strategy
With options you can choose to go long on stocks you believe in and short on the ones you don’t.
Taken from https://about.robinhood.com/options/
Overall I love this app, and would recommend it to anyone that wants to get their feet wet on trading, or just wants to watch some stocks. The app is very intuitive and easy to use. It's a pretty app, and the system makes trading simple and easy to learn.