I sold a couple of different stocks today to make room for new and returning stocks. I sold off two different stocks and ending up buying four stocks. I'm happy with my purchases, and these purchases move me closer to getting paid (on average) every other day of the year in dividends.
If I had purchased and sold these stocks on a traditional broker, this could have cost me upwards of $60 in commissions! That's the great thing about the Robinhood App, you don't have to pay commission fees to buy stocks. There is no way I would have been able to build the diversified portfolio I have now if I was on another brokerage.
I started trading stocks back in 2013. I put in $500 into TDAmeritrade. I bought 10 shares of Intel and 3 shares of Pepsi. This cost me the price of the stocks along with $19.98 in commissions. I didn't do much with my portfolio, and it was pretty boring. I couldn't diversify much due to the high cost of commissions. I've said this before, that some might argue "If you can't afford the commissions fees, you shouldn't be trading", and I disagree with that statement.
The best way to learn something is to do it. The best way to learn something is to get experience with it. If we just leave stocks and investing to "Guys in Suits", how are we going to learn?
So I'm giving a shoutout to Robinhood! Thanks for the great app and great service.
I'm looking forward to the continued updates and great app.