Robinhood's 24-Hour Stock Trading Announcement: Game Changer or Investor Trap?

[@shawnhazel4110]

Great content on topic and informative; thank you 🏆📈🏆

[@littleninjai222]

More of Preet. Always good to have your level headed opinions shared to the Canadian investors. Thanks for a another great one.

[@PreetBanerjee]

You’re welcome! My schedule has opened up so I’ve got time to make videos again 😊

[@iamdaddy962]

Glad to see you back!! (: Seems like Shitadel and friends pulled Robinhood in to make more on those juicy spreads

[@PreetBanerjee]

The market makers could make out like bandits!

[@DonTheOne4]

What app is better than robinhood and is this actually a thing? Or just select stocks

[@neolithic3]

All these apps treat investing like its a video game. Free random stock for signing up, encouraging people to trade more and more with "free" trades, FOMO for the latest meme stock etc Investing shouldn't really be fun like a video game or a trip to a casino. More people need to invest rather than simply trade. I'm not sure that many people understand the difference. I imagine the 24 hour trading will just exacerbate these issues.

[@PreetBanerjee]

Very well said!

[@neolithic3]

@@PreetBanerjee thanks! I really enjoy your videos, they are always well presented and informative.

[@PreetBanerjee]

@@neolithic3 Thank you! I know it’s been a while since my last video but I had some big projects and life events (all good ones!) but those are all wrapped up so I’ll be putting out more videos again. Thanks for sticking around!

[@MegaKiri11]

It can be both. I have all my savings in boring ETFs and a separate account with $2000 that I trade for fun!

[@neolithic3]

@@MegaKiri11 That's great but I don't think that is probably true for most of the people on sites like Robinhood. They market it heavily to young people, that are more often than not, fairly clueless about investing. Then they gamify the interface and encourage making lots of trades.

[@barbaras630]

Are you adding more videos?

[@kindwealth3743]

Great video as always Preet! Thanks for shedding light on this for retail investors!

[@PreetBanerjee]

You are welcome, good sir!

[@cherylhurst]

Another great video preet 😊

[@jdavid1707]

Yea Preet is back!! great to see the new backdrop.

[@PreetBanerjee]

Thanks, David! That’s just a temporary backdrop (maybe?) Still have to sort out the new digs. Fun fact: the building in the background is Credit Suisse! (For now)

[@cherylhurst]

This might be a stupid question but can anyone from any country trade on any stock exchange? How does that work..?

[@PreetBanerjee]

It varies by country and the brokerage you use. Almost everyone will want access to US stocks and if your brokerage has/allows you to access those markets then you could (and you would normally place trades during regular trading hours for the US - so as a Brit, you’d place trades between 2:30pm and 9pm BT). But someone in Canada might have an account with a brokerage that just doesn’t offer direct trading access on the stock market of a small, foreign country like Lichtenstein, as an extreme example. But you could buy a locally listed fund like an ETF that has exposure to many markets that you can’t access directly. So while you wouldn’t be able to necessarily pick individual stocks from those countries, you could get exposure to a basket of stocks from those countries.

[@bryanbroacosta]

Until they get rid of the pattern day trading rule this wont do much

[@PreetBanerjee]

That’s an interesting point, but PDT only applies to margin accounts and I think there are plenty of investors with cash accounts who won’t face PDT restrictions. But at the same time I don’t know how attractive trading overnight will be for them either.

[@petef15]

Why would anyone still use this company?

[@IronOak64]

To trade stocks 24/7

[@PreetBanerjee]

I think most people who sign up and find it easy to place trades will likely stay put unless they see a compelling reason to leave, and it may be the case that they think they are resistant to the gamification techniques used. Or they just don't care/know.

[@petef15]

@@PreetBanerjee 🤣

[@blinddog4288]

24 hr trading, absolutely not!