3 ms·
This is true at the level of basic buying and selling. However that isn't all that is happening with Robinhood. One of Robinhood's "innovations" was making it
by slg 5y ago
This is true at the level of basic buying and selling. However that isn't all that is happening with Robinhood. One of Robinhood's "innovations" was making it easier for novices to engage in more complicated trading including buying on margin, short selling, etc. This allows people to lose more money than they initially invested. A kid in the 90s wouldn't be buying Pokemon cards on credit with the potential to literally bankrupt themselves or their parents.
- mym1990 5y agoRobinhood has also gamified the trading experience. Once a day I get a push notification with something like "here are the day's biggest movers, hop on the train before it's too late!" and its essentially playing to that addictive quality that short term trading can have.
- LeapingPanda 5y agoExactly. A push notification like that is preying on the fear of missing out (FOMO), which is completely at odds with proper assessment and risk management.