How To Consistently Grow Your Robinhood Account 2018 | Summary and Q&A

TL;DR

Learn how to consistently grow your trading account by focusing on quality stocks, understanding patterns, and having a structured trading plan.

Key Insights

• 🔨 Using a platform with advanced charting and tools can provide better insights and help make informed trading decisions.
• 🤘 Focusing on quality stocks showing signs of uptrend or horizontal patterns increases the chances of consistent growth.
• 🌱 Planning out trades and understanding risk are crucial for successful trading and overcoming the PDT rule.

Transcript

Read and summarize the transcript of this video on Glasp Reader (beta).

Questions & Answers

Q: What is the first recommendation for growing your trading account consistently?

The first recommendation is to use a platform with advanced charting and tools, such as TD Ameritrade's Thinkorswim, to have access to better indicators and a more detailed view of market activity.

Q: What kind of patterns should you focus on when trading?

It is recommended to focus on stocks showing signs of uptrend or horizontal patterns. Uptrend patterns indicate consistent growth, while horizontal patterns suggest stability.

Q: How can you ensure that an investment is worth the risk?

It is important to consider the margin of profit a stock or ETF offers and weigh it against the potential loss. The opportunity cost should be worth the risk, and focusing on quality stocks is crucial.

Q: How can you overcome the Pattern Day Trader (PDT) rule?

By planning out trades, setting weekly growth goals, and dedicating time to technical analysis, it is possible to overcome the PDT rule and consistently grow your account.

Summary & Key Takeaways

• The content focuses on three steps to continuously grow your trading account: using a platform with advanced charting and tools, focusing on stocks showing signs of uptrend or horizontal patterns, and planning out trades and understanding risk.

• The video emphasizes the importance of not investing based on other people's opinions, but instead focusing on patterns and understanding the stocks you invest in.

• It highlights the success of the speaker's little sister, who grew her account by almost 50% in one month using these steps.