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Beat Boho V3? For real this time?
Old 06-24-2018, 10:14 AM   #1
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Beat Boho V3? For real this time?

Would anyone be interested in a new little trading game, for fun and maybe profit, using accounts at RobinHood? I have not tried them but evidently they have commission free trades and free rides (not having to wait 3 days for settlement).

The problem (several) I had with the Boho contests are several:

1) It wasn't real money, so I made trades I would not make IRL, like shorting KITE on margin

2) It wasn't real money so I was not willing to dedicate any real time to it and lost interest fairly quickly (mostly because KITE got bought out though)

3) I did not like some of the rules of the contest...seemed contrived. At least with RobinHood the rules will be realistic because...well, it is real money, profit and loss.

In my rollover IRA from a tiny 401K with a previous employer, I had $1700 stuck at Etrade in 2001. Today I have $93,000 in that account. This is with paying Etrade's rather hefty commissions (used to be $9.95 per stock trade). So I guess I am saying I have some experience with messing around with small accounts.

I would be willing to set up any amount up to about $5,000 at RobinHood, although something in the $100 to $1000 range would probably be best. Anything less than $100 is going to be fairly boring as you will barely be able to buy more than a couple of stock shares.

Anyone up for it? It would not be an official contest but rather we could post screenshots in a thread of our balances and trades and perhaps a consolidated leader board post every once in awhile.

If nobody is interested I might do it anyway just for kicks.
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Old 06-24-2018, 10:27 AM   #2
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I'm tempted enough that I looked at Robinhood, but they don't offer Roth IRAs and I don't want to day trade in a taxable account, even if it's just $5K. I could see opening a new Roth (I already have my "gambling" account of $50K at TDA) and just posting results, although it would have to be the honor system since nobody else could see it. You'd be paying trading costs that way, but not taxes.
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Old 06-24-2018, 10:41 AM   #3
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Ok, that is a valid concern. Nobody wants to be filling out a schedule D by hand with things like "bought 1 share XOM $81.28, sold $82.18, short term gain $0.90" and having to do that 100 to 200 times.

Stupid IRS, spoiling our fun!

I will check and see if RobinHood has the ability to download trades in some format that tax software can import.

I also have a gambling account. It was about $50k but dumb luck (looking at you Endocyte) turned it into $250k. I would love to replicate something like that in real time at Robinhood.
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Old 06-24-2018, 10:44 AM   #4
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I have a small amount at TD to dabble in penny stocks. Thatís enough for me.
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Old 06-24-2018, 11:18 AM   #5
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Too risky. Boho has zoomed back up and is now showing a paper profit.

OK, it's only a fraction of nun's paper profit, but I'm sure it will continue zooming. Well, kind of a gradual zoom. Actually, a very gradual zoom. But the contest is less than half over. Or is that nearly half over? Hmm ...
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Old 06-24-2018, 08:48 PM   #6
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Ok, well I went ahead and signed up for a RobinHood account to try it out. I used a sign up link from a forum member on MMM so I guess they and I will get a random free stock share in the account (maybe Berk-A lol!)

I funded it with $2500 because I read something about being able to go margin you have to have $2000. I don't want to go margin but I do want to have a margin account instead of a cash account to take advantage of instant settlement of trades instead of waiting 3 days to settle. I think the $2000 is a SEC thing not a RobinHood thing.

I am excited about the free options trading. There have been times where I would have sold weeklies against stock but the commissions were just too large of a percentage compared to the profit. We will see if I can eek out some gains that way.

If nobody else is interested in competing with me in this, I will just post my trades and results occasionally, perhaps every week or two. If others join in I will do so more frequently.

My goal is to turn the $2500 into about $250,000 in a few years.
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Old 06-24-2018, 09:11 PM   #7
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My goal is to turn the $2500 into about $250,000 in a few years.
For that kind of trading success, many of us will be glad to follow your lead!

Would you start another thread here to kick this off?
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Old 06-24-2018, 09:20 PM   #8
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For that kind of trading success, many of us will be glad to follow your lead!

Would you start another thread here to kick this off?

Sure. I am also sort of going to track this on MMM since RobinHood is more widely used there but I will make sure I keep e-r.org updated too.
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Old 06-24-2018, 09:23 PM   #9
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Sure. I am also sort of going to track this on MMM since RobinHood is more widely used there but I will make sure I keep e-r.org updated too.
I just joined RH. Since I am not a member of MMM, I guess I'll need to sign on there to see what is going on.
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Old 06-24-2018, 09:29 PM   #10
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I just joined RH. Since I am not a member of MMM, I guess I'll need to sign on there to see what is going on.
If you use a link from a current RH member, both you and they get a free share of a random stock. I just picked the link in the sig of a random MMM user
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Old 06-24-2018, 10:40 PM   #11
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Saw this one after the other.... I am also not willing to do it in a taxable account...
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Old 06-24-2018, 11:43 PM   #12
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But what about Boho? You need him to join provide color play with.
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Old 06-25-2018, 08:40 AM   #13
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Of course, even with real money, nothing stopping Boho, when down in the standings to say something like the money is just his play money, not how he'd invest with serious money .
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Old 06-25-2018, 08:55 AM   #14
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But what about Boho? You need him to join provide color play with.
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Originally Posted by easysurfer View Post
Of course, even with real money, nothing stopping Boho, when down in the standings to say something like the money is just his play money, not how he'd invest with serious money .
Does a new contest come with a new set of excuses? There does seem to be an endless supply.

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Old 06-28-2018, 11:42 PM   #15
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Just noticed this now. I wouldn't do it with real money. Or if I did the trading would be kind of boring because I wouldn't be able to get a margin account and the last real-life no-margin system I tried quickly failed and I quit trading. I'll probably get back to it at some undetermined point in the future.
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Old 06-29-2018, 06:24 AM   #16
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Just noticed this now. I wouldn't do it with real money. ...
I think that's the smartest thing I've ever seen you post! Maybe there is hope for you.

Take your real money, pick an AA and put it in broad-based index funds.

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Old 06-29-2018, 09:00 AM   #17
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Just noticed this now. I wouldn't do it with real money. Or if I did the trading would be kind of boring because I wouldn't be able to get a margin account and the last real-life no-margin system I tried quickly failed and I quit trading. I'll probably get back to it at some undetermined point in the future.

Why would you not be able to get a margin account? I don't go on margin but I like that robinhood allows you a margin account for use of unsettled funds.

You only need $2,000 for a margin account ($25,000 if you want to be a pattern day trader per SEC rules).

I am totally impressed right now with the speed of execution of robinhood and the fact that everything is free.
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Old 06-29-2018, 09:37 AM   #18
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Why would you not be able to get a margin account? I don't go on margin but I like that robinhood allows you a margin account for use of unsettled funds.

You only need $2,000 for a margin account ($25,000 if you want to be a pattern day trader per SEC rules).

I am totally impressed right now with the speed of execution of robinhood and the fact that everything is free.
Fidelity turned me down. I forgot all the factors but they don't give you the specific reason. I think it's similar to a credit check. The rules are probably set up to help people like me but they ended up ending my winning streak and making me experiment with my second choice of trading which failed too soon so I quit.
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Old 07-01-2018, 01:56 AM   #19
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Would anyone be interested in a new little trading game, for fun and maybe profit, using accounts at RobinHood? I have not tried them but evidently they have commission free trades and free rides (not having to wait 3 days for settlement).

The problem (several) I had with the Boho contests are several:

1) It wasn't real money, so I made trades I would not make IRL, like shorting KITE on margin

2) It wasn't real money so I was not willing to dedicate any real time to it and lost interest fairly quickly (mostly because KITE got bought out though)

3) I did not like some of the rules of the contest...seemed contrived. At least with RobinHood the rules will be realistic because...well, it is real money, profit and loss.

In my rollover IRA from a tiny 401K with a previous employer, I had $1700 stuck at Etrade in 2001. Today I have $93,000 in that account. This is with paying Etrade's rather hefty commissions (used to be $9.95 per stock trade). So I guess I am saying I have some experience with messing around with small accounts.

I would be willing to set up any amount up to about $5,000 at RobinHood, although something in the $100 to $1000 range would probably be best. Anything less than $100 is going to be fairly boring as you will barely be able to buy more than a couple of stock shares.

Anyone up for it? It would not be an official contest but rather we could post screenshots in a thread of our balances and trades and perhaps a consolidated leader board post every once in awhile.

If nobody is interested I might do it anyway just for kicks.
no thank you , but thanks for offering

apart from international legislation complexities

i have played similar 'paper trading ' games ( no actual cash involved )

and i didn't do very well in them ( most of the time )

what i did find good with the paper trading games was they were VERY GOOD at finding major flaws in my strategies , but also often rewarded unexpected events ( like take-over offers )


good luck , i hope you and the other players make a bundle
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