Tag Archives: trading

Where Have I Been?! Updates And Three (3) Apps I’ve Been Using: Circle Invest App, Square Cash App, Robinhood Gold

Sorry for the lack of blog posts. Again!

I’ve spent this entire Spring and beginning of the Summer working, studying, learning, making mistakes, and evolving. Sounds like a lot, I know. I’ve kept investing in various stocks including a few of my favorites that I’ve mentioned on this blog a few times already, such as Facebook and Amazon.

I’ve also continued to save towards a larger cash position, but that is beginning to get even more serious beginning now. I hope to be buying a house and am looking into a few other opportunities within the end of this year and beginning of next. My favorite place to grow my cash right now, as I’ve mentioned, is Marcus by Goldman Sachs. When I originally wrote about them they were offering less, but are now offering 1.8% interest on all savings accounts. On top of that, interest rates are only looking like they will continue to go up right now.

So here’s to some new adventures in life. I’ll be sure to try and keep you updated more! For today I wanted to share a few apps & products that I’ve been using recently, and share my thoughts. So let’s just get into this:

  1. Circle Invest App:  I have really enjoyed using this service. It’s an app in which you can purchase various cryptocurrencies. If you are familiar with crypto, it’s pretty much like Coinbase, but better right now. There are low fees, more of a variety of cryptocurrency, they make it easy to add money and withdrawal, and they have several other interesting features. One of my favorites is the “Buy The Market” feature where with one purchase you buy a fraction of every crypto they currently offer on the app.
  2. Cash App/Square: I really dig Square’s Cash App. Much like Circle, they make it very easy and quick to add money. You can then buy Bitcoin (only Bitcoin at the moment, no other cryptos). You can also use the cash to send to others with the app, or even get the personalized debit card which I did. They have “Boosts” you can load on them where you can get certain discounts when you use the card. A few examples are $1-off each Subway visit, 5%-off each visit at Whole Foods, and 10% off each visit to Chick-fil-A. Not bad at all! It’s overall just a real slick, simple app which I why I like it. You can use the debit card just like any other debit card you’ve used once you load it with money.
  3. Robinhood Gold: I am still a huge supporter of the Robinhood app. Recently I decided to test their Robinhood Gold service. With it you get access to extended trading hours, the option of using margin, and a few other benefits. The cost varies based on how much margin you take on, or as Robinhood calls it, “Gold.” I enjoyed using the platform and testing all of the features. As is always the case with margin, you have to be very careful. It’s easy to make bigger bets than you normally would knowing you have the access to margin. Besides Robinhood Gold, just overall I am very impressed with the Robinhood app. I’ve been trading options (mostly calls) here and there, and am still just learning, but that has become one of my bigger interests in investing. They’re risky, but can lead to big rewards if you’re willing to learn. Biggest thing Robinhood offers… the ZERO commissions for trading stocks, options, AND cryptocurrency. Yes, you can purchase crypto on Robinhood as well and recently they’ve been adding more coins. It’s still only available in certain states, but more and more of those are being added often as well.

I’m going to leave it with those three for now, but I’ve got a lot more that I want to share with you all hopefully soon. Just a few of the things I’ll be blogging about before not too long (hopefully) include the following:

  • Three of my favorite current stocks: Netflix, Nvidia & Tesla, as well as updates on previous mentioned stocks.
  • PayPal Working Capital
  • Adyen
  • GoDaddy Bookkeeping & Quickbooks
  • Vistaprint Promobox
  • Aldi
  • Shift card (Boo!)
  • Amazon Prime
  • the next recession
  • I.R.S. & taxes
  • budgeting
  • WHAT is happening to eBay?

As you see, lots of ideas and plans written down, very little time, but ultimately the passion and determination to eventually get these blogs out! If you have any thoughts, ideas, other suggestions, ANYTHING, just let me know. Have an amazing day!

Brent

Robinhood Trading App: Great For Beginners and Pros. Slow Start, But Now I’m Loving It. Watch Out Stockpile

I had originally planned on writing a blog post on Robinhood very early in 2017. I downloaded the app, attempted to set up my bank account for automatic transfers, and that is pretty much where the idea stopped. I figured that I would get some sort of notification that my account was setup, but that never happened. Right off the bat, I began to think that Robinhood wasn’t going to be very good.

After waiting a few months (strange, I know), I finally just decided to email customer support. I let them know that my account was never able to connect to my bank account. They quickly replied that there was some sort of error, and I resubmitted my bank info. I actually submitted two bank accounts this time, just to be safe. Finally, after a few days, both accounts were this time set up and ready to begin funding my Robinhood account!

Don’t let this first part scare you off from Robinhood, as honestly, this is my only negative experience with them so far. It really was never that much of a big deal anyway. Fast forward to today, and I am absolutely loving using the Robinhood app. I blogged before about how much I love using Stockpile, which is a brokerage that offers stock for only 99 cents per trade, and you can even purchase fractional shares. I still use them, but have mostly just made that account be my “long” portfolio. I purchase companies I believe in long-term, and utilize Stockpile’s Divident Reinvestment Program (DRIP) to compound my gains over the long haul.

As of this writing, Robinhood doesn’t offer a DRIP, or the ability to purchase fractional shares. They do, however, have one absolutely AMAZING feature. ZERO fees. Yes, you read that right. Nothing whatsoever for the basic version. Stockpile also has a drawback where any shares you purchase on any given day post to your account at the end of the day, at the closing price of that particular stock. Robinhood is nothing like that, and is just like any “regular” brokerage where you can buy shares at any time during the day. Because of this, I use Robinhood as a swing trading account. Buy low, sell high, rinse and repeat. I don’t expect to accumulate dividends in my Robinhood account, but on a few positions I have actually already done just that. It all depends on how long I end up holding a position, as not all of my original plans always stay the same due to market ups and downs, etc…

Robinhood does offer a Robinhood Gold upgrade, which has a cost, but I have yet to begin using that. It offers a few extra features such as Pre-Market and After-Hours trading, the ability to trade on margin, and instant access to funds once you sell a position. I may eventually look into this, but for now I am more than happy with the original version.

One thing I really like about Robinhood is how you are able to access your funds instantly after funding your account. You initiate a bank transfer, and just like that, those funds are available for trading. With Stockpile, you have to wait days before you can do any trading with deposited funds. This really helps when you see an opportunity in the market, and are able to instantly capitalize on it. Honestly, this may be the best feature Robinhood has to offer, in my opinion anyway. Factor in that there are zero buying and selling commissions, and it makes Robinhood a must-have app for any stock market beginner or advanced trader or investor, even if just only as a “side account.”

One more thing I really like is signing into the app. With Stockpile, every time you sign in you have to put in your email address and password. If you log out even for a minute, you have to put that info back in. It can be annoying in a hurry. With the Robinhood app, you choose a four-digit pin number and only have to use that every time you go to use the app. How convenient! I also really enjoy the push notifications that Robinhood offers that are customized based on your positions and watchlist. The Robinhood app, in my opinion, absolutely destroys the Stockpile app.

If you are looking into Robinhood and wondering if it’s worth a try, it absolutely is. If you’ve never heard of Robinhood, I hope I was able to convince you that it may be worth trying out. I’m more impressed than I ever thought I would be. A year or so from now, who knows, I may actually end up ONLY using Robinhood when it comes to the choice between them and Stockpile. One thing is for sure though, when it comes to commission alone, both apps give TD Ameritrade (which I also have an account with) and others a real run for their money. As time goes on, I can see Robinhood and Stockpile (and others who we don’t even know about yet) really disrupting these companies unless they really try and adapt to the times. If you’re a full-time day trader, etc.. I get it, you may NEVER stop using your regular brokerage or software for these apps. But never say never. Give it some time and you just don’t know what innovation and disruption may bring.

Have you tried Robinhood? Or have you tried Stockpile? Let me know your thoughts in the comments below.

Update (10/6/2017): After writing this post, I realized that my Stockpile app had been out of date for quite some time. They have added a ton of features including push notifications, better ways to track your profit/loss, a cleaner/smoother overview, a better way to sign in, and a bunch more. I was actually very impressed with the updates, so I wanted to give them my props. The updates have made my chances of fully leaving Stockpile for Robinhood, at least in the very near term, much more slim. Awesome job, guys!