Hacker News Reader

Comment by LaserToy | Hacker News Reader

It is not about scale, it is about the fact that people lost real money. If you can’t make it work you should not be in that business, and I don’t really care how hard they work.

I’m taking my account off their platform.

View on HN

Is this your first day of trading or something?

People lose money in trading all the time, for hundreds of reasons and some of those reasons are infrastructure downtime.

If your risk profile doesn't reflect that, maybe you should take your money out of trading altogether.

I will take it off this platform for sure.

And why -2 points??? Already moving money out.

What is annoying - only 50k per day is allowed.

Because complaining about RH being a low quality trading platform is like being angry at the burger quality at McDonald's. You get what you pay for.

Nearly every brokerage now has zero fee trades, just like RH. They weren't down Monday.

I carry reasonable investment balances - I’m not an active trader but in this space I expect availability. I’d never put my money on RH - and this has nothing to do w risk profile

I've been trading for years, would not keep a penny on that platform. They've effectively cut off all liquidity for their customers for at least 2 days during high market volatility. You are missing out on tax loss harvesting, buying dips etc.

Nearly every online brokerage has had an outage or outages in the past.

For a full day + morning and issued non apology? Also, I prefer to be with the group that is not in the “nearly all” one

Exactly. When markets are volatile I imagine they find it difficult to manage risk and so just shut everyone out and blame it on IT.

That would be extremely illegal, at a company killing, send them to jail level and would be impossible to hide.

Nothing was stopping the Robinhood customers from opening an eTrade or TD Ameritrade account or something and doing their trading out of that platform for the duration of the outage. Robinhood isn't really an institutional platform in my understanding anyway.

How can you do it if your equity is in Robinhood?

Reply on news.ycombinator.com