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RobinHood Options Trading: Why You Will LOSE Money with RobinHood - YouTube
Channel: BestStockStrategy
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RobinHood is bad and why the RobinHood
app is very bad for all of its all the
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people who use it. So my gut feeling and
I don't have no idea about the statistic
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that I'm about to throw out but my gut
feeling is that the majority of the
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people who use RobinHood actually LOSE
money and the reason is when you go into
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the RobinHood groups on Facebook you
see that all of these people who are
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using RobinHood to trade are buying options. That's like, well it's not the dumbest
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thing possible they don't seem possible
that you could do is like day trading or
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following Tim Sykes and trying to
trade penny stocks.
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So I definitely think that buying
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options is a better strategy than buying
one of those other people's programs but
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I definitely also believe that RobinHood is very bad for you because it
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encourages you because you can't sell
naked options but you can buy naked
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options it encourages all these people
to display the 20% or 30% of their trades
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that are winners and they are not
displaying the 70% to 80% of their trades
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that are losers because they all want to
feel social validation that they're
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actually legitimate profitable traders
and they have a good strategy. So instead
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what they do is they go on Facebook and
they show their winners some of them
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they win like you know 100%-200% on a trade and then they
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don't show all the losing trades the 70%
to 80% of their trades that lose
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money and all of them who buy options
end up losing money it's just a question
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of when they're gonna lose money so with
enough occurrences the more you trade if
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you trade something if you flip a coin
and it only has a 30 or you know 20 or
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30 percent probability of profit you
might win the first two times that you
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flipped the coin but if you flip that
coin ten thousand times
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you're making bets on every single coin
flip eventually you're gonna run out of
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money because the probability is against
you so what options what on Robinhood
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does is it encourages these people to
post their winning trades and make it
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look like buying options is actually a
sustainable and viable strategy which we
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all know that it's not and then other
people get roped in because they think
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that it's an easy way to make money and
then these people have a continuation
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and they persist in this fake strategy
of buying options and then they
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eventually all end up losing all their
money. So forget like the other stuff
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about you know even Robin Hood not
allowing you to sell naked options or
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the fact that they sell out their people
and they get like worse fills. I mean to
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me that is secondary to the fact that
you have limited flexibility and you are
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encouraged to purchase options and RobinHood does not, RobinHood actually
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discourages people from selling naked
options when selling naked options is
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the best strategy that any individual
retail investor can possibly have to be
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consistently and predictably profitable
in the stock market. So this is David
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Jaffee with BestStockStrategy.com I
would definitely stay away from using
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the RobinHood trading app because it encourages
you to establish very bad and negative
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habits that you're then going to have to
spend time to break them when you
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transition to a real broker so most of
the people on RobinHood they have
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less than $10,000.
I guess using Robin Hood when you have
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like $2,000 - $3,000 dollars so
you can make commission free trades is
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fine but once you really once you want
to get serious about making money and
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you want to stop you know just caring
about posting your bullshit trades to a
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Facebook group so that other people can
tell you how awesome you are when we all
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know that you're not really making money
once you really want to get serious
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about upping your game and learning a
verifiable skill and making consistent
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money you really have to get off RobinHood because it's a bullshit platform
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