Robinhood just acted like Robinhood

Toz

Toz

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From 8:30 AM to 8:32 AM, this morning (US Central Standard Time), I could have made enough money to meet my weekly goals. However, the Robinhood system robbed me and would not allow me to sell my options contracts for a certain stock at a certain strike price, UNTIL AFTER things went the other way and my profit became a loss. Now they will allow me to sell (but at a loss). Robinhood living up to its name, though I'm not exactly rich.
 
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Toz said:
From 8:30 AM to 8:32 AM, this morning (US Central Standard Time), I could have made enough money to meet my weekly goals. However, the Robinhood system robbed me and would not allow me to sell my options contracts for a certain stock at a certain strike price, UNTIL AFTER things went the other way and my profit became a loss. Now they will allow me to sell (but at a loss). Robinhood living up to its name, though I'm not exactly rich.
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The stock exchanges was closed?
 
Move to a serious broker like TD Ameritrade/Thinkorswim, if you are trading options this is your best bet.
 
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There is a lot of money to be made in Options. One of the reason why i stopped trading it's because of the brokers.. always with their problems. It seem they are starting to work like casinos , when you start to win a lot they will ban you for sure . So in trading , they try their best to not let you make money ( if you are using leverage or buying option).. of course since they are going to pay from their own pockets if you win.
 
Razen666 said:
There is a lot of money to be made in Options. One of the reason why i stopped trading it's because of the brokers.. always with their problems. It seem they are starting to work like casinos , when you start to win a lot they will ban you for sure . So in trading , they try their best to not let you make money ( if you are using leverage or buying option).. of course since they are going to pay from their own pockets if you win.
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This is only true if you are trading binary options which are not actual options and no different than an online casino, the brokers in this case are not really brokers but "the house", you are playing against them, however, if you are trading real options in the exchanges the brokers only makes money off of their commission and the spreads, so they do not care if you win or lose.
 
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Razen666 said:
There is a lot of money to be made in Options. One of the reason why i stopped trading it's because of the brokers.. always with their problems. It seem they are starting to work like casinos , when you start to win a lot they will ban you for sure . So in trading , they try their best to not let you make money ( if you are using leverage or buying option).. of course since they are going to pay from their own pockets if you win.
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Brokers don't have to pay you out of their own pocket if you win with derivative products like options they make the money by the spread they offer on both bid and ask, or the commission if they charge any..
The person paying for your win, is the sucker on the other side of the trade
 
Online013 said:
Brokers don't have to pay you out of their own pocket if you win with derivative products like options they make the money by the spread they offer on both bid and ask, or the commission if they charge any..
The person paying for your win, is the sucker on the other side of the trade
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Oh , thanks for the information. Diden't know that
 
Online013 said:
Brokers don't have to pay you out of their own pocket if you win with derivative products like options they make the money by the spread they offer on both bid and ask
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This is how Robinhood works, as well, which is why I use them. There is no commission charge. Today was the only time this has happened, and I honestly believe it happened because of what happened over the weekend, to be honest. The options contracts I was trying to sell were for some ITM Puts on Tesla, as I knew they were about to split, and I had a hunch that it would skyrocket this morning, but only after first taking a bit of a drop (so I allowed my Put to carry over from Friday). I was right and there was an initial drop, and that's when I tried to sell because I knew what would happen next, which is exactly what happened. The problem was that during this time, I was unable to sell my contracts so got screwed over a bit on this. That being said, I still love Robinhood. They were just being difficult, today.
 
But what was the reason "Robinhood didn't allow you to sell"? Some delay and/or technical error, or a real obstruction to sell your assets?

Or there was no one on the other side of the trade to buy your sell order?
 
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Online013 said:
But what was the reason "Robinhood didn't allow you to sell"? Some delay and/or technical error, or a real obstruction to sell your assets?

Or there was no one on the other side of the trade to buy your sell order?
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It was a "technical error".
 
Dude TD Ameritrade was down for me this morning at market open. Couldn't even get into my account/past login screen. Wouldn't ever load anything.
 
itstricky85 said:
Dude TD Ameritrade was down for me this morning at market open. Couldn't even get into my account/past login screen. Wouldn't ever load anything.
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Yeah, I think it may have been something happening across the board, because of these major company doing their splits. Nobody really knew what was going to happen.
 
Buddy, discount brokerage firms are actually like that.
Server crash and downtime is really common with them.
Just move to a full time brokerage firm.
 
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