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Robinhood Question
#13916619
03/09/21 07:14 PM
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Joined: Apr 2017
Posts: 12,193
BCBassCat
OP
TFF Guru
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OP
TFF Guru
Joined: Apr 2017
Posts: 12,193 |
Definitely new to the day trading game. I had a couple of stocks preform really well and decided to sell yesterday. I got notification of the sell being completed this morning. My buying power shows the new amount but the amount transferable is the same for last couple of months. Is there a built in delay that I’m unaware of?
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Re: Robinhood Question
[Re: BCBassCat]
#13916623
03/09/21 07:17 PM
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Joined: Oct 2012
Posts: 9,446
SgtDag
TFF Celebrity
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TFF Celebrity
Joined: Oct 2012
Posts: 9,446 |
From my experience it takes a few days for the “final” notification, however, it stay at the same sell/buy price.
"If you're going through hell keep going." Winston Churchill I open mouth kiss my sisters
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Re: Robinhood Question
[Re: BCBassCat]
#13916665
03/09/21 07:56 PM
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Joined: Mar 2010
Posts: 27,880
T Bird
TFF Guru
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TFF Guru
Joined: Mar 2010
Posts: 27,880 |
Takes 2 days from trade execution until settlement per SEC. Commonly referred to as T2.
Okie by birth, Texan by choice. USAF "Thunderbirds" Alumni 1985-1989
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Re: Robinhood Question
[Re: BCBassCat]
#13916862
03/09/21 11:28 PM
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Joined: Nov 2004
Posts: 38,184
RickS.
TFF Guru
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TFF Guru
Joined: Nov 2004
Posts: 38,184 |
Yep, two days to settle the funds. You can still trade with those funds. But can only transfer settled funds. Also I recommend learning the difference in day trading and other trading. Don't get marked as a pattern day trader with less than 25k in your account. You will find your account locked for 90 days.
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Re: Robinhood Question
[Re: BCBassCat]
#13916961
03/10/21 01:03 AM
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Joined: Aug 2015
Posts: 3,976
Pintail711
TFF Team Angler
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TFF Team Angler
Joined: Aug 2015
Posts: 3,976 |
Open an account with a real broker and not a fischer price broker.
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Re: Robinhood Question
[Re: BCBassCat]
#13917139
03/10/21 03:37 AM
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Joined: Apr 2008
Posts: 12,345
PaulGrapevine
TFF Guru
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TFF Guru
Joined: Apr 2008
Posts: 12,345 |
The standard settlement for an equity trade is T (trade date) plus 2 (days). This means the trade settles 2 days after the trade date. It was T plus 3 until a few years ago. You can probably buy something else that would settle on or after the current settlement. It won’t let you get the cash out until after the trade settles.
If you really want your head to spin, look up how Robin Hood gets paid for order flow. Trades are not “free” there.
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Re: Robinhood Question
[Re: BCBassCat]
#13917474
03/10/21 02:34 PM
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Joined: Apr 2017
Posts: 12,193
BCBassCat
OP
TFF Guru
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OP
TFF Guru
Joined: Apr 2017
Posts: 12,193 |
Is it merely a coincidence that the day the sell is final, every time I try to log in I get "something went wrong"?
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Re: Robinhood Question
[Re: Pintail711]
#13917551
03/10/21 03:28 PM
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Joined: Nov 2004
Posts: 38,184
RickS.
TFF Guru
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TFF Guru
Joined: Nov 2004
Posts: 38,184 |
Open an account with a real broker and not a fischer price broker. Robinhood is one of my four accounts. It serves its purpose that I use it for. But there are definitely better ones out there. After their last couple of stunts. I keep my funds fairly low in that account. I use it mainly for quick swing trades and if I want to burn a day trade.
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Re: Robinhood Question
[Re: BCBassCat]
#13917552
03/10/21 03:29 PM
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Joined: Sep 2018
Posts: 2,645
Flyfisherman
Mama's Boy
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Mama's Boy
Joined: Sep 2018
Posts: 2,645 |
Robinhood is a complete joke of a platform.
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Re: Robinhood Question
[Re: BCBassCat]
#13917553
03/10/21 03:30 PM
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Joined: Nov 2004
Posts: 38,184
RickS.
TFF Guru
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TFF Guru
Joined: Nov 2004
Posts: 38,184 |
Is it merely a coincidence that the day the sell is final, every time I try to log in I get "something went wrong"? The coincidence isn't because you have settled funds. Its because both Gamestop and AMC are doing their thing again.
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Re: Robinhood Question
[Re: RickS.]
#13917628
03/10/21 04:33 PM
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Joined: Apr 2017
Posts: 12,193
BCBassCat
OP
TFF Guru
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OP
TFF Guru
Joined: Apr 2017
Posts: 12,193 |
Is it merely a coincidence that the day the sell is final, every time I try to log in I get "something went wrong"? The coincidence isn't because you have settled funds. Its because both Gamestop and AMC are doing their thing again. Thanks for clarification Rick. I guess I sold my AMC too soon....
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Re: Robinhood Question
[Re: BCBassCat]
#13917629
03/10/21 04:36 PM
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Joined: Nov 2004
Posts: 38,184
RickS.
TFF Guru
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TFF Guru
Joined: Nov 2004
Posts: 38,184 |
Is it merely a coincidence that the day the sell is final, every time I try to log in I get "something went wrong"? The coincidence isn't because you have settled funds. Its because both Gamestop and AMC are doing their thing again. Thanks for clarification Rick. I guess I sold my AMC too soon.... Still time the squeeze hasn't squoze yet.
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Re: Robinhood Question
[Re: BCBassCat]
#13917798
03/10/21 06:51 PM
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Joined: Sep 2016
Posts: 10,267
Floon Swenson
TFF Guru
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TFF Guru
Joined: Sep 2016
Posts: 10,267 |
T+1 is on the immediate horizon...which will make life a little cushier.
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Re: Robinhood Question
[Re: Floon Swenson]
#13917804
03/10/21 06:54 PM
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Joined: Nov 2004
Posts: 38,184
RickS.
TFF Guru
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TFF Guru
Joined: Nov 2004
Posts: 38,184 |
T+1 is on the immediate horizon...which will make life a little cushier. I wonder if that will change the PDT rules
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Re: Robinhood Question
[Re: BCBassCat]
#13917812
03/10/21 07:02 PM
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Joined: Apr 2010
Posts: 27,155
patriot07
TFF Guru
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TFF Guru
Joined: Apr 2010
Posts: 27,155 |
The settlement timeline is fairly common to all brokers, but you should get with Fidelity or TD Ameritrade. Robin Hood pulled some shady stunts last month and needs to be bankrupted - they're awful.
Life can only be understood backwards; but it must be lived forwards. - Soren Kierkegaard
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