Welcome to this guide on how to buy and sell stocks using Robinhood. Robinhood is a popular commission-free stock trading platform that makes investing accessible to everyone. You can trade stocks directly from your smartphone or computer with just a few taps.
Before you can start trading, you need to set up your Robinhood account. First, download the Robinhood app from your app store. Then sign up using your email and phone number. You'll need to verify your identity with a government ID. Next, link your bank account for funding. Finally, transfer money into your Robinhood account to start trading.
Now let's learn how to buy stocks on Robinhood. First, use the search bar to find your desired stock by typing its ticker symbol, like AAPL for Apple. Tap on the stock to see its current price and chart. Then tap the Trade button and select Buy. Choose your order type - a market order buys at the current price, while a limit order lets you set a specific price. Enter the number of shares or dollar amount you want to invest, review your order details, and submit.
To sell stocks on Robinhood, start by going to your Portfolio tab where you can see all your current stock positions. Find the stock you want to sell and tap on it to view details. Then tap the Trade button and select Sell. Choose your order type - market order sells at the current price, or limit order lets you set a minimum selling price. Enter how many shares you want to sell, review the estimated proceeds, and submit your sell order.
Here are some important tips for successful trading on Robinhood. Always start with small amounts while you're learning. Research companies before investing and understand that markets are open from 9:30 AM to 4:00 PM Eastern Time. Consider setting stop-loss orders to limit potential losses. Diversify your portfolio across different stocks and sectors. Never invest money you can't afford to lose. Stay informed about market news and be patient with long-term investments. Remember, all investments carry risk, so trade responsibly.