Here is the full documentation. Here is a slightly more dynamic documentation. Since robin stocks is on PyPI, you can download and install the library with just one simple action in the command line:. Finally, before interacting with our account through the Robinhood API we will need to import robin stocks:. This function effectively logs you into Robinhood by getting an authentication token and saving it the the session header.

Certainly anything interacting with your account like placing orders does require you to do so, so it is good practice in general to log in to Robinhood at the beginning of your script. Finally if you wish to improve security during login you might want to consider setting your username and password as environment variables so that they are never plainly displayed in your code. Here are some mostly free data sources and guides:.

A market buy is simply a buy that is executed immediately- starting at the current market price and eating the sell book upwards until it is completed. Note that timeInForce is not hugely relevant for market orders since they are executed immediately - using good until cancelled should generally be fine. There is a basic order function to buy integer quantities of shares, but since the fractional variant handles both integer and fractional requests, we recommend simply sticking to that!

Robinhood Has Lured Young Traders, Sometimes With Devastating Results

Of course remember make sure you have enough funds in your account to execute any quantity orders! A limit order is a type of order that does not execute immediately, rather it executes when the price of an asset hits a certain price. Note that unfortunately you can only place limit stock orders in integer quantities, and you might want to consider the timeInForce setting more carefully, since unlike a market order a limit order is not necessarily executed immediately or even any time soon….

Briefly, options are contracts giving a trader the right, but not the obligation , to buy call or sell put the underlying asset they represent at a specific price on or before a certain date. Achieving this will require some trading logic to constantly monitor the price of Mastercard. Of course, we could interchange Visa and Mastercard with any other two stocks if we wanted- the logic would remain entirely the same. And it returns a list of prices as strings- a list of length 1 if we only input a single ticker as we will here.

Here is the code for that:. The loop will first check the latest price of Mastercard. Now for each iteration within the loop, we will append to the dataframe both the time date and the price at that time. Notice we use the existing length of the data frame to inform which index value to pass to. Next we determine the time one hour ago by subtracting 60 minutes from the most recent time in the dataframe using Pandas Timedelta. We created a mock simulation to show what the output of this script might look like adding an extra line to print the data frame , with a 0.

A pair trade is a trading strategy where you identify two stocks that move with high correlation- and long the under-performing stock and short the over-performing stock if they begin to move unusually far apart as a mean reversion strategy- where you assume this is an unusual blip and they will shortly move closer together again. We will show you how to create a trading script that longs Box and shorts Dropbox if they began to move unusually far apart in a trading day compared to the last trading day.

The idea is that we buy Box when it falls unusually low relative to Dropbox and sell Dropbox with the expectation that the two move closer together again in the future. Firstly, lets grab the daily historical data for the last week for Box and Dropbox and convert the response into a pandas data frame:. Now lets work out what the price difference between the stocks was at the daily close yesterday.

Note we use. Now in a loop, we will query the Robinhood API for the most update to date Box and Dropbox prices and compute the difference:. If they have, we will long Box , short Dropbox and break the loop. Note that another limitation of Robinhood is that it does not allow you to market buy options contracts. The reasoning goes inline with the rest of their ethos- protect novice traders from harming themselves too much. The potential slippage on market options orders is far greater than on the spot market so they simply do not allow it in the name of investor safety.

One option could be to just go in with a limit order with a pre-determined price. Right before we place our limit order, we will use the following code to find the highest existing bid price for the contract type we want to buy, and create a bid just over it 0. So for instance if we wanted to get the Delta value for a Tesla call option with expiry date and strike price of , we could do the following:.

Remember the float list[0] part is to convert the response to numerical from a list of length 1 containing a string. A covered call is an options strategy constructed by holding a long position in a stock and then selling writing call options for the same stock, representing the same size as the stock position. An option contract gives the right to buy or sell shares of the underlying stock, so shares covers a single option contract. A covered call is a good strategy if you are mildly but not overwhelmingly bullish on the underlying stock- you will benefit from any price increase up to the call strike price and also get the premium from selling the call option, and so hence slight effective downside protection also.

Robinhood Review | Bankrate

The downside is limiting your upside by not benefiting from any movements past the call strike, since you will have to sell your shares at that price when the option is presumably exercised if in the money- so the optimal outcome for a covered call trade is the price of the stock moving up to the strike price but not beyond. Calls range in delta from 0 to 1, and puts range in delta from -1 to 0, so an option with a delta of 0.

One way to achieve this is to sell a call option whilst buying shares of the underlying stock. First, lets sell a Tesla call option, using the same method as before to fetch a sensible limit price:. Then find the current delta of that call option to know how many shares to buy to delta hedge with:. It can be very costly to constantly adjust for delta neutrality to the point of losing money from fees , so infrequent calibration is often best. You cannot place two sell orders of any types with the same shares.

The functions and parameters to do this for stocks and crypto are basically the same- with just a few alterations to the valid values for the parameters. And returns a list of dictionaries where each dictionary is for a different time with the following dictionary keys:. So if you wanted to get 10 minute data for Tesla over the last year during only standard trading hours, you would do:. But for investors who know what they want, the Robinhood platform is more than enough to quickly place trades. It supports market orders, limit orders, stop limit orders and stop orders.

Both the mobile and web platforms also include a feature called collections, which are stocks organized by sector or category. Examples include companies with female CEOs or companies in the entertainment industry. On web, collections are sortable and allow investors to compare stocks side by side. Robinhood also offers a tab bar at the bottom of the app, which offers quick access to portfolio values, watch lists, transaction history and account statements. Robinhood Gold: Robinhood Gold offers investors the ability to trade on margin, also known as borrowed money.

New investors should be aware that margin trading is risky.

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Here's more on how margin trading works. Improved research offerings: Though Robinhood's offerings still pale in comparison to other brokers, the company has made strides to increase the tools and research available for customers, offering analyst ratings, lists of top movers, earnings calendars and links to earnings calls.

Candlestick charts are available on mobile, and the service resurfaces information from other Robinhood customers to create its own universe of data. In December , Robinhood was charged by the Securities and Exchange Commission for misleading customers. Also in December , the Commonwealth of Massachusetts accused Robinhood of aggressively attracting inexperienced investors to its platform and using gamification techniques to manipulate customers.

The complaint also states that many Robinhood users were given access to advanced — and risky — options trading products, even when they identified as having no or limited investment experience. In August , Robinhood announced plans to hire hundreds of new customer support representatives.

In January , the app came under fire for its decision to restrict trading during the extreme market volatility surrounding GameStop and other heavily shorted stocks. Throughout the surge of new investors during and into , Robinhood — along with other brokers — experienced outages and other technical issues that disrupted service. Both the outages and the January restrictions led to class-action lawsuits.

Limited securities: Mutual funds and bonds — often included in well-diversified, long-term portfolios — aren't supported. One account option: For investing, Robinhood supports only individual taxable accounts often called brokerage accounts; you can learn more about these accounts here. Looking for a retirement account instead?

See our roundup of best IRA account providers.

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Customer support: Many brokerage customers understandably expect phone support, and they won't find it here — Robinhood's customer support is almost exclusively done through email. It does have a useful and well-organized help center online, and the website is easy to navigate and transparent.

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• Is Robinhood right for you?!

If a streamlined trading platform or the ability to trade cryptocurrency are important to you, Robinhood is a solid choice. But now that plenty of online brokers have joined Robinhood in offering commission-free trades, casual investors can afford to shop for the broker that suits them best. Interested in other brokers that work well for new investors? Andrea Coombes contributed to this review. Our Take 4. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities.

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Learn More. One free stock for new account owners. Streamlined interface. Cryptocurrency trading. Cons No retirement accounts. No mutual funds or bonds. Limited customer support.

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Compare to Similar Brokers. Promotion One free stock for new account owners. Promotion None no promotion available at this time. Sign up now. Full Review Robinhood is a free-trading app that lets investors trade stocks, options, exchange-traded funds and cryptocurrency without paying commissions or fees. Robinhood is best for:.