- So in this video today,
we're going to be covering how to buy and sell stocks
on the commission free trading app, known as Robinhood.
Now, I'm going to show you guys
how to do this both on mobile as well as on desktop
so if you wanna skip ahead to any point in the video,
there's going to be timestamps
down in the description below.
Now, for those who are not familiar,
Robinhood is a commission free trading app
that allows you to trade different ETFs, stocks, options,
as well as cryptocurrency and specifically today,
we're going to look at how to buy and sell stocks and ETFs.
Down the road I might do a separate video
on how to purchase options on Robinhood,
but that's above and beyond the scope of this video here.
Now, the very first thing you may be wondering
is what stocks and ETFs you can purchase
through the Robinhood app.
So currently, there are over
5,000 different individual stocks
that you can purchase on Robinhood
and around 500 different ETFs.
If you want to learn more about the ETFs
or index funds on Robinhood,
I'll put a card up in the corner
for a video I've done on that topic
but as far as those stocks go,
this includes stocks listed on both
the New York Stock Exchange and the NASDAQ
as well as over 250 ADRs,
which are essentially foreign companies
that trade on a US exchange.
Now that being said, the do not offer OTC
or over the counter stocks, pink sheets or mutual funds
so you're not going to find mutual funds
or a wide variety of penny stocks on Robinhood
but for most people, that's not a problem because
those are both pretty lousy investments.
So essentially, your very first step
before you buy or sell an asset on Robinhood
is to determine what it is that you are looking to buy
then, we'll get into how to purchase that asset.
Now real quick guys,
if you don't already have a Robinhood account,
if you sign up using the link down in the description below,
you will get a completely free stock when you sign up.
The value is anywhere between two dollars and 50 cents
and up to $250 and full transparency here guys,
I am affiliated with Robinhood,
so I may earn small commission in the process
if you decide to use that link,
but it is a way to support my channel and give back to me
for putting this video together.
All right guys, so what we're going to do now
is actually open up the Robinhood app on my phone
and I'm going to walk you through step by step,
how to purchase your first stock using Robinhood
then, we're going to turn around and sell it.
All right guys so here we are
inside of my Robinhood portfolio.
Right now, I am almost fully invested
and as you can see, I have about dollars of buying power
so, that's not really going to buy me much of a stock.
There's not too many out there trading for that price
so I'm gonna first of all,
fund my account with a little bit of money
and show you one of the first cool features of Robinhood.
So what I just did is transferred $100 from my bank account
to the Robinhood investing app
and as you can see here it says, it may take up to five days
to be deducted from your account.
However, once you click continue
you will see that you have instant access to that money
and this is a really cool feature known as instant deposit.
So all Robinhood users out there
get up to $1,000 available instantly
as soon as they transfer that money
so you don't have to wait up to five days
to invest that money.
So when I go ahead and click done,
you're going to see that I now have $107 and 97 cents
worth of buying power.
So after you've opened your account
and of course deposited some money
and likely took advantage of the instant deposit,
the next thing we're going to do
is go to the search bar at the bottom
and this is where you're going to type in
the name of the company or the name of the fund
that you are looking to purchase.
Now, since I'm going to sell this stock
immediately after I purchase it,
it really doesn't matter what I buy
so I'm going to purchase just one share of
Bank of America Stock.
Now I have two options here.
I can either type in Bank of America,
or if I know the symbol this stock trades under,
I could type that in as well.
So, there we have Bank of America,
it trades under the symbol BAC,
I've typed that in and now I click on the asset
and here we are on the research screen.
Now this is where I can actually purchase a share
or many shares if I want to
or I can conduct some research on the company
and look at some different statistics.
So, I want to purchase one share.
The very next step here is to click the green trade button
or it might be red if that stock is down on that given day.
Now I have options enabled on my Robinhood account.
You may not see that trade options button there
so we're gonna ignore that for now
and we're going to click on buy.
Now on this screen here,
you're going to indicate how many shares
you are looking to purchase and I'm going to buy just one.
Now, before I buy that share,
I just want to show you in the top right corner,
there are a couple of different order types
that you can use if you're looking to do something
that is maybe more complicated.
By default, it's going on to be a market order,
and that's going to be filled at the best available price
right now
and that's the order type that I almost always use.
However, if you're looking for some different order types,
you also have the limit order, trailing stop order,
stop order, and stop limit order that do different things.
We're not going to cover that in this video.
I might do a dedicated one on the Robinhood order types
down the road, but just understand that option is available,
but by default it's going to be a market order
and it's going to fill
at the best available price right now.
So I want to buy just one share of Bank of America,
I go ahead and click review,
and then when I'm ready to place that order,
I simply swipe up with my finger and the order is received,
and just like that,
I have purchased one share of Bank of America stock
on Robinhood.
So now, on the exact same screen, if we scroll down,
you can see that my position here
is one share of Bank of America
at a market value of $24 and 79 cents,
but wait a second,
now I'm going to sell it
to show you guys what that looks like
making this officially
the shortest duration investment I have ever owned.
So what you're going to do is click the green trade button
and now, since you already own this stock,
you have the sell button available
and you're going to do the exact same thing.
Now again, you do have different orders
you can potentially use when selling this stock,
however, we're going to stick with the market order
which is going to sell this stock
at the best available price right now.
So I'll click the X in the corner,
I'm going to sell one share,
and then I'm going to click review and the same exact thing,
I'm just going to swipe up,
and I am officially now selling my share
of Bank of America stock and just like that it is sold
and if we take a look at the notification here guys,
you can see, I purchased one share of Bank of America
at $24 and 78 cents
and I actually made one penny on this trade.
It sold for 24,79
but that is how you buy and sell a stock
through the Robinhood mobile app.
What we're going to do now is jump into my computer
and I'm going to show you guys
how to do the exact same thing on desktop,
and also, before I forget to mention this guys,
one thing you may be wondering is
when are you able to trade stocks on Robinhood?
Well, another great feature of this brokerage
is that you have both extended hours trading
and regular trading hours.
So normally you can trade stocks from 9:30 am to 4:00 pm
Eastern standard time any day that the market is open,
but with Robinhood for free,
you can trade from 9:00 am to 6:00 pm
giving you pre-market and aftermarket trading hours
where you're able to continue trading stocks.
Another thing to mention is that
Robinhood is working on rolling out fractional shares,
which will allow you to invest in shares
in one dollar increments,
however, there is a massive waiting list right now,
and that feature is not yet available.
All right guys,
so here we are inside of the desktop Robinhood
trading platform,
and I'm going to walk you through quickly
how to buy and sell a stock on desktop.
So, essentially what we're going to do here
is the same thing as we did before
except we're going to type in the stock
we're looking to purchase at the very top.
So this time we're going to go with the stock AT&T
which trades under the symbol T.
So you can either type in the letter T
or you can type in AT&T.
We'll go ahead and click the T and it pops up right there.
Now from this page here,
it's a little bit different buy shares.
It's actually quite a bit easier
because all you would do here is put in
the number of shares you're looking to purchase.
So I'm going to go ahead and buy one share of AT&T
for demonstration purposes
and if you guys wanted to change the order type,
you'd just click the dropdown here
and select from these different orders.
So, we're going to go ahead and complete that order
to buy one share of AT&T.
So we click review order,
and then we just click the buy button.
So the one thing it did have me do
is enter my password to confirm before the purchase,
so I went ahead and did that,
and now I own one share of AT&T.
Now there's a couple of cool things that I can mention here.
First of all, since this is a dividend paying stock,
you do have this option here to enable dividend reinvestment
where any dividends earned will be reinvested
back into the issuing stock,
which is a great option for those looking to earn
compound interest.
Also, we know that Robinhood is a commission free brokerage
so we have exactly zero dollars
in commissions that were paid
so now, we own AT&T but guess what?
I changed my mind.
Let's go ahead and sell it.
So now up top, I have the option to click on sell T,
I would enter the fact that I have one share
and then I'm just going to click on review order
and then I'm going to click the sell button
and just like that, I zipped it off
and I sold my one share of AT&T.
So let's go to my messages here
and see if I made or lost money.
Well, I bought a sheriff for 29,44 and sold it for 29,43
so I lost my one penny profit from my Bank of America trade
earlier on.
And one of the things you might be interested in
if you're looking to research investments on Robinhood,
and you're not quite sure what you want to purchase, we are,
there's this popular collections tab here
where you can learn about different groups of companies
or there's the newsfeed here, which is great.
You also have top movers that tell you, you know,
what different companies are moving,
what are the top movers,
so, there's all kinds of different research tools here
that are very useful
and if you click on these different collections
like for example, upcoming earnings,
it's going to give you a list of companies
that have earnings coming
and you have all kinds of different research tools as well.
So, it's a decent platform for commission free trading,
but there's also a lot of different
screening and research tools, which can be helpful as well.
So anyways guys, there, you have it.
That is how to buy and sell stocks on Robinhood
using both the mobile app and the desktop platform.
If you guys enjoyed this video and found it to be helpful,
please drop a like and subscribe to my channel
for more investing related content.
Like I said, if you want to sign up for Robinhood
and support this channel,
there's an affiliate link down below
where you'll get yourself a completely free stock,
but thanks so much for watching guys.
I hope you enjoyed this video
and I will see you in the next one.