/biz/ - Business & Finance

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

>>17886175
>trusted his money to literal robin hood

>>17886175
Who would have thought that would happen on an app marketed towards reddit baristas who can't afford real brokerages or crypto exchanges

What the fuck is this retarded shit? Why have I been stuck like this for days while I could’ve already made money moves?

>>17886175
it's a free app, you get what you pay for idiot.
learn to read candles and paper trade before you throw some money in the game.

>>17886251

>>17886175
You dumb fucking ape. Your account gets locked for 5 days if you daytrade 3 times in a week period.

>>17886175
You need to wait a few days before you can withdraw money.

>>17886273
LMAO WHAT KIND OF KEKED POLICY IS THAT?

>>17886273
lol what the fuck glad i never gave two fucks about some goytrap

>>17886273
God fucking dammit, sometimes I think the universe just doesn’t want me to make money. Built a fortune in crypto, almost lost it all while 16 year olds on reddit are printing $100k from $500.

Pattern Day Trading is a federal law fucking brainlets holy shit this board has taken a nosedive in IQ

>>17886329
those 16 year olds are gonna get raped by the IRS so take comfort in that sirs

>>17886273
>>17886312
>>17886329
CORRECTION, you are locked for 90 fucking days.
JFC

>>17886353
This is unironically the most gay goy bullshit. And it’s been longer than a week, it’s been 9 FUCKING DAYS. I cancelled a fucking CCL $20 put for april why the fuck are my funds still locked, I’ve made so many mistakes

>>17886273
holy fucking shit, what a blatant ponzi scheme of an app

>>17886273
>>17886301
>>17886312
>>17886329
>>17886392
>>17886423
YOUR ACCOUNT IS LOCKED FOR
90 FUCKING DAYS

>>17886353
You seem to forget that majority of this board are literal neets who are waiting for their shitcoin to "moon" with no understanding of the actual stock market

Forgot the picture but

90
0

D A Y S

>>17886441
I already contacted support, these retarded fucking goys better return my money, unironically making interest on it for 90 days. What a meme scam what the actual fuck

Literally just opened a Robin Hood account 2 days ago in it aloud me to throw 1k into the market before it even withrdrew from my bank.. I think does just hate you, sorry anon

>>17886438
That's every brokerage dumb fuck. It's an SEC rule.

>>17886273
>>17886301
>>17886312
>>17886329
>>17886392
>>17886438
>>17886441
I'm convinced this is either a troll or actual retardation. The rule is called the Pattern Day Daytrader rule, and it's set by NYSE, not RH. It doesn't let you make more than a handful of trades over 5 days IF your account is less than 25k.

>>17886539
Pattern Day Trader*

>>17886539
Yeah I know man, I'm just telling him what's going on

>>17886539
What is the reasoning for this though?? So poor fags don’t make themselves more poor and fuck themselves??

Why are you joining Robinhood after all the bullshit they've done lately. Enjoy having active trades that you can't access while they crash.

>>17886596
Yes. Imagine if someone as stupid as OP started gambling on stocks like he does crypto. This is for his own protection

>>17886441
>90 FUCKING DAYS
>in a prelude of a recession of all times

I can't stop laughing, I just can't for fuck sake....

>>17886596
The SEC mostly exists to give white knights and nanny staters an erection. You will lose brain cells trying to make sense of most of their rules.

what platform does /biz/ recommend for trading ?

Bro, use webull. All the same features, but more market data, not run by pajeets, and full after hours trading. It's great. https://act.webull.com/i/Q7r61HVDk7aP/rew/ shameless plug

>>17886659
Just open an account with a different broker dumbass lol

>>17886438
Literally fucking anything that’s been remotely successful the past five years

>>17886539
why?
do they not want people to get rich?
WHAT THE FUCK FUCKING JEWSSSSSSSSSSS

>>17886687
Doesn't work. You personally are not allowed to trade for 90 days

>>17886681
If just want to buy and sell stocks and etfs commission free with no account minimums open an account with Ally Bank. And unlike Robinhood you can do instant business hours transfers from your interest bearing savings account to your investment account so your not losing money having it sit.

>>17886539
It also surprised me how many anons literally believe its the app that makes such a decision and not the government.

>>17886744
i want options

>>17886175
Oh no, your net tendie money!

>>17886353
Based everyone here is literally full retard but mah day trade

>not knowing the day trader rule
Actually a fucking retard glad youre locked out

>>17886498
This fucking OP is literally an autist my sheckles boo I wan make money with 10 dollar but major SEC ree

>>17886175
>RH is a piece of fucking shit
Yep, I tried canceling a put yesterday night, but the order still went through today. Was losing 1k this morning but ended up selling the put at 22% profit two hours ago so I can’t complain.

>>17886634
>This is for his own protection
imagine believing this

>>17887020
It's a bad rule if you know what you're doing, but OP clearly doesn't

>>17887020
Imagine being this retarded

>>17886863
Robinhood is the only broker that doesn't charge a fee on options contracts. Ally charges 50 cents, most brokers charge 65 cents.

>>17886809
i dunno how folk forget laws exist

>>17887121
Their retarded consoomers who think the bottom has hit and want to spend all their life savings on a gamble

How do you enable options on Robinhood? Method offered by Google doesn't exist in the UI.

this thread omg
>biz doesn't know about ptd

https://www.youtube.com/watch?v=p08ChZVGBow

https://seekingalpha.com/pr/17808270-research-frontiers-reports-fourth-quarter-and-full-year-2019-financial-results

Accumulate REFR boyos

>>17887263
don't bother you'll fail since you're too stupid to look in the settings

>>17886539
holy shit. I've never invested -- does this also apply to index funds / mutual funds?

Well, I guess I found out about this rule the hard way. I’m guessing the money is locked until mid-July as well. Hopefully by then the economy is at ATL and I can place calls and make it on the way back up. I just potentially screwed myself out of so much money it’s depressing. Thanks for the answers frens, I’m retarded but this has been a learning experience

>>17887303
Good point. I found it though. Is it possible to fail the application? It already accepted and upgraded my account. Just curious.

>>17887360
Technically it applies to any security on the stock exchange, so it should. But you shouldn't be daytrading index funds/mutual funds anyway

>>17886175
that is jump up before deep dive

>day trader rule
I can't believe it. You need 25k to day trade?

>>17888830
Stocks yes. Futures and commodities no

>>17888877
So they want people to gamble away their cash on shorting and longing futures instead of buying safe stocks?
This is a huge ponzi to keep the poor people down.
Will I be locked out even if I live outside America?

>>17886539
Hahaha. Fuck stocks. There are so many stupid little rules like this, including "market hours"
Crypto is open 24/7 baby. The only rules are the ones on the exchange you decide to use.

>>17888982
Are you a US citizen? If so yes. If not, and you're trading US stocks somehow - idk

>>17889119
The only reason crypto doesn't have these rules is because it's so new. The stock market is over a century old and has had a lot of time to figure out nuances. The lawman will come for you too, pal

>>17889119
Your retarded
>>17888982
The economy is a ponzi scheme kid welcome to the real world just buy Disney and hold for a year you'll be fine

>>17889206
Damn that sucks

instant gratification zoomers

my god kys OP

>>17889286
Too true

>>17889286
>>17889476
Wrong. What if you wanna sell or buy? You have to wait till trading hours and be mindful of day trading rules written by boomers. This is exactly what crypto was invented to counter.

OP are you retarded?

I just used the Chase app, they let me set up an account and trade almost immediately. Am I being ponzied?

>>17886662
Also, none of their rules apply to rich people

WHAT FUCKING EXCHANGE SHOULD I USE

Robinhood doesnt have linkies

>>17889920
based and poorpilled

>>17888877
What about options?

>>17886539
Only applies to margin account. Haven't used robinhood but I'm positive that poo riddled shit app is margin

>>17891124
Options definitely fall under the PDT rule

>>17886175
yes, im going to sell soon and move it all over to E*Trade