How do I, a 22 year old Australian male, get into trading and

>>1546616
>robinhood is coming to Aus, does anyone know when it's due to hit?
Round about when Diablo 4 comes out mate.

>>1546712
Not to sure if this is a joke or serious answer.

>>1546616
Lesson #1: Going to a casino gives you better odds than robinhood.

>>1546729
>a rigged game where you frequently lose 100% has better odds than investing

>>1546729
I went to a casino and lost $600. Thankfully it wasn't actually my money.

What's wrong with robinhood?

I'm looking into other brokers in Aus but not too sure what it is that I should be looking for when comparing them.

>>1546748
Look for broker fees. What kind of research/charts they supply you with. If their prices are in real time or how much they lag. How big their bid/ask spreads are.

>>1546748
>What's wrong with robinhood?
The fact that no one other than poor kids uses them should tell you something.
Do you really think that if they were a better deal every trading firm in the world wouldn't be using them?
But none of them are.
Shocker.

>>1546748
>What's wrong with robinhood?
Literally nothing if you're broke. Just be careful you don't get cucked by the monthly server crash.
If you have a few tens of thousands of dollars you should use a real broker, though. At that point the fees don't matter.

>>1546758
>nothing if you're broke
So, do you believe penny stocks are a good idea if you can't afford listed ones?
Because that sounds like where you're going with this logic.

>>1546770
The odds of a stock you buy going down don't increase just because you bought it on Robinhood.
If you are swing trading, you don't need real-time intraday candlesticks.

>>1546776
So you're attempting to trade, but using an app that doesn't have any of the tools traders rely on?
What about shorting, leverage, after hours, even real-time quotes, etc?
All of these are massive advantages that you have no access to.
Are you really unwilling to admit "free commissions" comes with a high cost in other areas?

I've done ok with Robinhood using limit orders and using Google finance to track my watch list stock movements. However this is a small account just for fun. I haven't used it enough to decide whether to invest with larger positions. Seems good for new investors though.

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So judging from what's being said, I might avoid robinhood, well it's not even out in Aus yet anyway so easy done.

Using ASX to look for brokers and things. CommSec it the one that stands out most for me but I could really use pointers.

>>1546786
>leverage, after hours
These are offered now actually, and they've implied shorting is coming in the future.

I've never claimed Robinhood is superior in any way to real brokers, but if you are trading with $5000 you will lose a lot of money to $10 commissions.

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>>1546837
or... maybe not?

>>1546841
>you will lose a lot of money to $10 commissions
You will lose a lot more to other factors.
Slippage, because your quotes are not accurate.
Opportunity, because you can only trade long.
Their own site says "Leveraged margin trading is not yet available to the public", so anyone trading with a real brokerage is profiting 2-4x what you are.
After hours is only available with rh gold, which requires a monthly fee. Otherwise, you risk plummeting stock in the after market.
Also, frequent server crashes on robinhood make this a serious risk regardless.

Any one of these factors is worth paying commission to avoid.

>>1546797
Robinhood isn't in Australia.

>>1546880
>Slippage, because your quotes are not accurate.
Limit sells.

>Opportunity, because you can only trade long.
Again, they've implied shorts are coming.

>Their own site says "Leveraged margin trading is not yet available to the public", so anyone trading with a real brokerage is profiting 2-4x what you are.
I have $2000 leverage on my $4,000 account.

>After hours is only available with rh gold, which requires a monthly fee. Otherwise, you risk plummeting stock in the after market.
The fee is a fixed $10/mo for the package with the most ($2000) leverage. If you only want the AH access you can pay $6/mo and you'll still get $1k leverage.

>Also, frequent server crashes on robinhood make this a serious risk regardless.
"Frequent" in my experience means once a month for about half an hour at the opening bell. It's certainly a problem, but you're still going to come out ahead compared to commissions if you're trading with a small principle.

>>1546888
>they've implied shorts are coming
You're arguing based on what "might be coming"?
Seriously?

>I have $2000 leverage on my $4,000 account
Even if I took your word over your broker's website, anyone using a real brokerage still has at least $12,000 on the same amount.

>the fee is fixed
Doesn't disprove anything I said. You're paying for access now.

>once a month for half an hour
It's hard to believe you're risking money knowing they have that poor of a track record. You even admit it's a problem.

You honestly believe these problems are worth ducking commissions?
I pay $3 a trade. Even if I only had $5,000, there's no way I would use a service like this.

You don't get something for nothing. They're simply hiding the real costs from you.

>>1546901
>>1546901
>Even if I took your word over your broker's website
http://blog.robinhood.com/news/2016/9/28/robinhood-gold

>You're arguing based on what "might be coming"?
I'm just saying that it's coming in the future.

>anyone using a real brokerage still has at least $12,000 on the same amount.
And I never said RH was superior in this respect, but it DOES offer leverage and I am definitely profiting from it.

>You're paying for access now.
Paying much less than I would otherwise, yeah.

>It's hard to believe you're risking money knowing they have that poor of a track record.
I try not to take any position that needs to be sold at open anyway. This has definitely fucked people, but for me, personally, it's not a very big risk at all.

>You honestly believe these problems are worth ducking commissions?
If you are playing with less than $1000, absolutely 100% worth it. Most of /rgt/ has under $2000 and many have under $500. A lot of people use RH just to gain experience trading.

I plan to switch to a big boy broker when I've got more capital, but at $4-5k I really don't mind being unable to short.

>>1546923
Ok.
Have fun.

I have to agree. For small time new traders the commission free trades are good way to make small trades and learn the basics. Limit orders and stop loss combined with a realistic strategy will get you results over time then graduate up to a more broad platform. There are plenty of other resources to get real time info or research from free online that can be used to make up for some features rh lacks. 1

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Which state and how much do you want to put in dude ?

>>1547045
I'm in South Australia. Currently have about $2,000-$3,000 to start with.

>>1546863
>>1546837
Are you able to short with Australian brokers?
I know you cant with comsec, though you might be able to do it with their paid CommSecIRESS

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>>1547122
Also, I thought the 20$ brokerage commsec had was reasonable?
What do other Aussie sites charge?

>>1546837
>CommSec it the one that stands out most for me but I could really use pointers.
Don't do it their international share trades are $60 minimum fee.

>>1547319
Then who do you recommend?

>>1547321
NAB's minimum fees are $15 for both ASX and international shares, so that's who I went with. There might be better but, eh.

>>1547324
Thanks for the tip, I'll be sure to check NAB out.
I'll probably stick to ASX for the beginning.

This is the closest thing to an ASX thread we've had in ages.
Pls dont die

>>1546616

Do you want to trade, or do you want to sustainably create wealth?

Just started trading the other day, went with Ameritrade

Did I goofed?