Self Defense: Robinhood Penny Stocks

Here’s a stock tip. Whenever you don’t know what’s happening collect as much data as possible. I don’t know what’s going on with Robinhood and it’s random erratic graphs so I decided to do some test. How? I decided to start off with some scout trades. What’s a scout trade? Basically it’s buying 1 stock and observing it.

Here’s a stock that flat-lined. Even though it has flat-lined I can’t buy it at it’s said price. It makes no sense but now I know and I recommend before buying any stock in bulk on Robinhood scout trade first.

If the scout trade gives you a bad look leave the stock alone. Save your day trade. Sell the scout trade stock the next day. It doesn’t matter if it’s for a loss because it 1 penny stock. You might lost two cents. Woo, man that’s so much money.

Unfortunately there’s no way to scout sell. Exiting is a problem with this app, but at least this method will allow traders to enter trades on their terms. Some of you may be asking yourself why not limit buy instead? If you set the price to low you will miss the rally. Plus scout trades actually show you real time data. This is a method that allows me to more quickly react in real time. Limit buy works extremely well but if an only if the price is met.