Robinhood Vs Acorns Vs
What You Will Learn In Today’s Blog
- What are the trading apps: Robinhood, Acorns, and Metatrader 4
- What are the differences between these apps
- Which one you should use based on your goals
- How I make so much money in the markets
Answers To Last Week’s Questions
Hey guys, if you are new to the blog, my name is Trav and I invest in stocks, gold, and cryptocurrency. I started this blog because I have been able to make anywhere from 5%-40% a day in profit. To put this in lame terms, I am making what the professionals make a year, every single week. I love helping people so I figured creating a financial blog and YouTube channel would help me to spread my knowledge to others in a super simple way. Sidenote: I write how I talk rather than writing grammatically correct in every instance so I can add more character to my posts and because writing and english are by far my weakest subjects…
Anyways… So last blog I talked about the questions you guys most likely have, which were: What in the world am I investing in that is allowing me to get these 40% returns in a day, am I rich, is this a scam, and how long have I been learning how to trade. So I am going to answer these but I am also going to tell you guys what App or Platform I use to invest or trade. There are a lot of platforms these days and some are for sure better than others. Today I will talk about Robinhood, Acorns, and MetaTrader 4. So let me answer your questions and then we will hop into the trading apps.
I am investing in commodities such as silver and Gold, Stocks like Facebook and Amazon, and crypto currencies such as XRP and Bitcoin. Now I have made probably 95% of my major profits from Gold and I have had about 95% of my significant losses come from cryptocurrencies as of September 6th. I will not stop investing in cryptocurrencies however, as we are in an abusive relationship right now because I know that once I tame that beast like I have tamed Gold and blue chip stocks I am going to be unstoppable. I digress… Now I would like to let you know that I do not simply buy and sell these. That would take me years to make the profits I am looking for. Instead I trade using leverage, meaning every one dollar I invest gets matched by a broker with 100 dollars. This means I reap the rewards of 100 dollars invested but I also can lose as if I had 100 dollars invested. If you are confused. That’s normal… I learned the financial industry takes pride in confusing people so the average person does not learn how to do what I am doing. So do yourself a favor and just look up “what is leveraged trading,” after you finish today’s blog and read until you understand it. Or just check out this youtube video https://www.youtube.com/watch?v=-PeJoJKGNP4 . You may also be wondering if I am rich.
If you are wondering if I am rich I will let you know now, I am far from it. I have been trading stocks and commodities for some time but I just discovered this 100 to 1 leverage a few months ago so I have been slowly refining my skills as a trader over that time. Will I be well off a year from now? Most likely considering right now I am making enough to cover my rent, my car note, and all extracurricular activities without asking my parents for any type of assistance and I just started trading a few months ago. Let’s now answer your next main question, ‘Is it a scam?’
Obviously if I am creating a blog, instagram, and youtube channel with my face all over all of them, I am not interested in running a scam. Well either that, or I am really bad at concealing my identity. What I am doing is simply leveraging my money to make large amounts of profit. The income you make from trading is taxed as if it you had you own small business. I do want to put a message out here though. I am not a part of ANY trading group that does MLM. These companies typically charge you $100-$200/month to teach you how to trade and be a part of their group chats. A popular one is iMarketsLive which is frequently called a pyramid scheme. I would consider myself financially literate, however, I have done little to no research on that company so I can not say whether they are or they are not running a pyramid scheme. If you want me to dig and find out I can but that’s that on that. Lastly, all the tools I use to trade are free and cost $0 per month to use and $0 to set up.
These are some of the main questions I feel as though people would have. If you have anymore questions send me a DM on instagram. I will be posting every Monday, Wednesday, and Friday. Also in case you are confused about what this blog is. It’s a blog about getting started as a trader. I am still just starting to experience all the beautiful benefits of being a day trader, but it’s changing my life already so I plan on sharing what I have learned so hopefully other people can experience this lifestyle as well, or pursue their passions without having to worry about where their next meal is coming from. I see this as a place where a family is built. A place where everyone belongs no matter what your background is or what you look life. Follow me on instagram @TheeDailyTrader to join the family and see extra visuals that go with every blog post. Ok now let’s get to the part a lot of you guys have been waiting for… what app or platform should you use to trade?
Trading Apps and Which One is For You
I am not just a college student who makes money trading. I have also interned with big financial companies like Fidelity Investments, who control over 7 trillion dollars in assets, and PNC Bank, who control 380 billion dollars worth of assets. So I did research on different investment apps. What I learned is that when considering which app to use you have to ask yourself these three questions.
- Do you want to have a passive investment app or active investment app. (Passive is where you put money into an account and it slowly grows over the year with you doing little to nothing. Active is where you buy and sell on a frequent basis, which is what I do.)
- Do you want to trade with leverage? (Do you want to speed up your results. This means you may win bigger but you can also lose bigger, either way you get your results faster.)
- Are you disciplined enough to invest more money every month without someone reminding you.
Acorns is best for someone who wants to have a passive investment app without leverage. This is also good for the person who does not want to think about putting money in investments. Acorns is an app that will automatically pick what your money goes into based on a short survey. They also round up all of your purchases so you can have money automatically getting invested throughout the month, which allows a person to invest without thinking about it. This may be an attractive option for someone just getting into investing but there are two main downsides to choosing Acorns. Number one is acorn charges anywhere from $1 to $3 depending on what features you want. If you want all the features they have to offer then you will pay $3 a month but you will also get a checking account with them and a debit card. The fees may not seem like a lot but if you are investing small amounts of money (Less than $250/month) then this is probably not the best option for you because the fees will eat up a significant amount of your profit (and add a significant amount to your loss if you lose money). This does not apply to college students however, as Acorns has a program that allows college students to use the $1/month option for free. The second problem is you are choosing to stay uninformed on how to maximize your money. This is convenient but it pushes you further away from taking the necessary steps to learn about stocks and commodities. So overall, this is not my personal favorite but if you think this is for you then more power to you.
Robinhood. Robinhood is an investing app that allows you to buy and sell stock without any fees. That fact that there are no fees warms my heart because I hate paying fees of all sorts. Robinhood is good for a person who wants a mixture between passive and active. With robinhood some people buy different stocks and let them sit and grow while others use robinhood to buy and sell stocks on a daily basis. Robinhood also allows you to choose if you want leverage via their program called ‘Robinhood Gold’ (the leverage trading on robinhood unfortunately comes with a fee). Robinhood also gives you the option of automatically investing money on a monthly basis, so you don’t have to remember to deposit money. Overall robinhood is in the middle ground of every question, making it a very hybrid app. I would consider robinhood easy to use and an overall good app. There are some cons for robinhood though of course. Number one is if you want to buy and sell stocks in the same day (which arguably allows you to make the most profit out of any other trading style) you can only make 3 day trades a week unless you have over $25,000 in your instant or gold account. A day trade is where you buy a stock and sell it the same day. Another flaw is even if you use their leverage it’s only for stocks that are not very volatile (stocks that fluctuate in price very sporadically). This meant that you can not use leverage when trying to buy weed stocks. My personal opinion is that robinhood is a great app if you want to make a little money here and there.
Lastly we have MetaTrader 4. This app is for the person who wants to have an active with the ability to trade with high leverage to maximize profits. The money that you make from this app should be significant enough to where you only have to make an investment if you want to start trading with a bigger amount of money. This app is for sure more confusing when getting started but once you get the hang of it you will understand that it’s set up in the most simple way possible while also allowing you to do so much. This app overall is my favorite (but I am bias considering I am making more money on this app then the other two combined). This app allows you to put in money and take out your profits every day/week/month while still having money to trade with. This app is just an app but to trade you need a broker. So after getting the app you have to find a broker online, using your computer. You then make an account on the brokers website and then you go back into the app, select your broker and input your login information into the app. Then you are ready to either trade with real money or practice with a demo account which is just fake money but real stock and commodities. Now I understand this seems confusing but this has the highest potential for profit out of all these apps in my opinion so the next blog post will be specifically on how to set up the metatrader app, what broker I use, and how to actually get started trading with fake money so you guys can practice. I will be including a youtube video with that blog because I know it may help to also get a video visual. Now let’s talk about the cons of this app. Number one is it’s harder to use in the beginning but as I said I will be walking you through that in two days. The other con is, because you are using leverage you have the possibility of losing money faster, but that comes from not knowing what you are doing and I will teach you how to know what you are doing. So overall I like this app because it gives people the opportunity to make as much as our hearts desire and skill sets let us acquire.
Reminder of What You Guys Learned
You guys now know more about me because of the questions I answered early in this blog. You guys now know that Acorns is an app that helps you automatically invests but charges a fee, that Robinhood is a user friendly, good place to make a little money trading stocks, and that metatrader 4 is what I use to trade and that it is a trading app that allows you to trade with high leverage. You guys are going to be gurus of the finance industry in no time.
If you guys have any questions or comments, send me a DM on instagram. I hope you guys enjoyed this blog post and will subscribe to get email reminders when I post. Please do me a favor, if you enjoyed this or appreciate me taking the time to educate the masses about finance then please share this blog with a friend. It would mean a lot to me. I will see you guys soon as I tell you what broker I use, answer questions about MetaTrader 4, show you how to set it up and tell you what website I use to see when I should buy and sell the stocks.