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Written by Cho Evelína on March 30, 2023
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Can You Make Money Daily On Robinhood?

Robinhood is a commission-free trading app that allows users to trade stocks, options, and cryptocurrencies.

While it is possible to make daily profits with Robinhood trading, it is not an easy feat, and the odds are against you.

Limited Time: Robinhood 1% Transfer Bonus

If you transfer an existing brokerage account to Robinhood through January 31st 2024, you can get an Unlimited 1% Transfer Bonus.

Robinhood Transfer Bonus

For example, if you transferred a brokerage account worth $50,000 - that would be a bonus of $500.

In addition, Robinhood offers a free stock for new users as well as a 1% IRA match for retirement accounts.

Day Trading

Day trading, which is the strategy of buying and selling stocks on the same day, is one way some traders attempt to make daily profits.

However, day trading is a high-risk strategy that requires a lot of skill, knowledge, and experience.

According to popular estimates, about 90% of day traders lose money, 9% break even, and only 1% of day traders are predictably profitable.

Given these statistics, it's clear that day trading is not a reliable way to make daily profits with Robinhood trading.

Long Term Investing

Instead, it's better to focus on building long-term wealth with proven long-term investing strategies.

Investing for the long term means buying and holding assets for a period of several years or more.

Dollar Cost Averaging

One popular long-term investing strategy is dollar-cost averaging, where you invest a fixed amount of money at regular intervals, regardless of the price.

This strategy helps reduce the risk of investing a large sum of money all at once, and it can help you avoid the temptation to buy and sell frequently, which can lead to losses.

However, dollar cost averaging into the wrong assets could result in significant losses if you don't know what you're doing. You should consult with a financial advisor first.

Index Funds

Another strategy is to invest in index funds or exchange-traded funds (ETFs), which provide a diversified portfolio of stocks and bonds.

This strategy helps reduce the risk of individual stocks performing poorly and can provide stable, long-term returns.

Final Thoughts

In conclusion, while it is possible to make daily profits with Robinhood trading, it is a risky strategy that most fail at.

Instead, it's better to focus on proven long-term investing strategies, such as dollar-cost averaging or investing in index funds or ETFs, to build wealth over time.

Remember, investing always carries risk, and there is no guarantee of returns.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Cho Evelína

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Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
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M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
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Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
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Get 1 Free Stock Worth Up To $200 From Robinhood!

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