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Robinhood Is Down Again?

status.robinhood.com

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Re: Robinhood Is Down Again?

#91

Post by josu »

bob1029 wrote: post #6

I've been defending Robinhood since the beginning but this is just too much. I will start looking at new brokers this afternoon. At this point for me its not so much about the lost opportunity as it is about what the hell actually exploded so hard that they need to be down for 2 consecutive days. From my perspective, it's looking less and less like some one-off technical or hardware screwup and more like a fundamenta…

Something similar occurs to crypto exchanges. They go down during days with extremely high volatility. During Q4 2017 most of the crypto exchanges were fighting hard to stay online, sometimes in precarious conditions, sometimes with execution delays of up to a few minutes.

Re: Robinhood Is Down Again?

#92

Post by saalweachter »

ndynan wrote: post #49
eden_hazard wrote: post #36

I'm a QA engineer and this is freaking infuriating. I just went on Linkedin and 0 QA engineers. Just some QA associates that have no tech backgrounds. And one QA Engineer opening. I wonder how long it's been open? How does a trading platform not have a big team of QA engineers? Some dev managers, devs are so freaking arrogant. They think since they aren't coding, they aren't smart and they aren't important. This isn'…

Often it's not dev managers, but a level above who don't prioritize QA engineering because they see it as a cost center and find it difficult to quantify the risk. If it's not leading to growth it is de-prioritized until fires are burning.

A lot of the trouble is that good QA -- and good engineering practices in general -- usually comes down to some equation like velocity x quality = $. If you want to increase your code quality, you either have to slow your velocity or jack up your $'s -- and usually you end up doing some combination of both, going a little bit slower and spending a little bit more money.

And if there's one thing people hate more than going slow it's spending more money.

Re: Robinhood Is Down Again?

#93

Post by mulcahey »

dmead wrote: post #65
jennyyang wrote: post #58

Is this due to their Kafka infrastructure being down? Their tweet last night alluded to it.

link to the tweet?

> The outage was not caused by a failure to code for the leap year. We had instability in a part of our infrastructure that allows our systems to communicate with each other.

https://twitter.com/askrobinhood/status/1234861941413351434?...

Sounds like Kafka / message bus to me

Re: Robinhood Is Down Again?

#94

Post by atombender »

Operyl wrote: post #53
tomashertus wrote: post #51

I already initiated transfer of all holdings from RH. For everyone interested you can do the same: https://robinhood.com/us/en/support/articles/360001226666/tr...

Which, hilariously, will cost you 75 dollars. Man, Robinhood is in for quite the lawsuit.

Note that brokerages such as Schwab will reimburse that ACATS fee if you ask and it's a new account.

Re: Robinhood Is Down Again?

#95

Post by atombender »

lsiunsuex wrote: post #41
JumpCrisscross wrote: post #25

Earlier quoted context omitted.

> Investing under $1000, especially with commission-free trades, is a good way to learn the basics mechanics of stock trading Individual investors are at a huge disadvantage when it comes to intraday trading. For everything other than a child's hobby account, intended to teach emotional stability through gains and losses, a <$1,000 stock-trading account is value destroying.

so again you want me to risk > $1000 when I don't know what I'm doing with a real brokerage that I don't know what their benefit is over something like Robinhood because.... ? I'm willing to loose a couple hundred to learn and understand something vs giving someone I don't know thousands and "trusting" their opinion. More so - testing the waters myself may not make me as good as someone who does this for a living - b…

Why would you play with real money to learn instead of doing simulated trades? You can set up a paper trading account with Interactive Brokers for free. If simulated trading doesn't feel "real enough" because there are no stakes, then I don't think it's about learning.

You can learn the ropes without wasting money.

Re: Robinhood Is Down Again?

#97

Post by paulgb »

013a wrote: post #64
paulgb wrote: post #21

Earlier quoted context omitted.

Investing under $1000, especially with commission-free trades, is a good way to learn the basics mechanics of stock trading.

"Investing" and "Stock Trading" are incompatible in the same sentence, unless combined with a phrase like "does not involve". You can buy and hold, or "Invest", on any platform which, in my opinion, has to meet three minimum requirements: It should offer commission-free trading on a variety of low-cost index funds, it should offer a variety of investment account types (at minimum, taxed accounts, Traditional IRAs, an…

Sure, I'm defending starting with less than $1,000, not doing so on Robinhood specifically. Your suggestions are good, I use Schwab and Vanguard myself.

I wouldn't advocate anyone trying to build wealth to pick individual stocks, but I do think if someone were investing $1,000 to get their feet wet I'd recommend they put a bit in individual stocks. The financial system is complex and I think it's worth stripping away one level of the complexity for educational purposes. (It's typically also a humbling experience.)

Re: Robinhood Is Down Again?

#98

Post by crystaldev »

ISL wrote: post #81
crystaldev wrote: post #66

Earlier quoted context omitted.

Unrelated but usually you should place a market order usually, not limit. Limit orders take longer to fill, your idea of limits is probably wrong and will lose money compared to a fair market match, it's not worth taking the risk that your order won't be filled, etc.

If an order isn't filled at a price at which I find reasonable, that is okay with me. A market order will fill at any price. I learned that lesson the day that a market order of mine filled at a price I deemed unreasonable. The key to avoiding faffing around with limit orders not filling when you want immediate execution is to place a reasonable limit that accounts for the day's volatility. At other times, I'll place…

Different strokes I guess. Getting into/out of the position is my top priority and I see more downside in failing to fill the order than in failing to shave a penny or two.

Re: Robinhood Is Down Again?

#99

Post by collinvandyck76 »

taytus wrote: post #84
kilroy123 wrote: post #55

As a fellow software engineer, I feel for the people who work there. As a customer who lost a decent chunk of money yesterday (and today) because their system was down, I'm angry. I hate to say this, but I do not think they're competent enough to continue to operate as a broker. I, for one, will move all my money off as soon as I can. I'm also going to file a complaint with finra[1]. [1] https://www.finra.org/investo…

>I feel for the people who work there. Why? Aren't they paid succulents sums of money for their work? What is going to happen to them? Overtime?

Because it makes the assumption that they are still well intentioned and want their product to succeed. Even well paid engineers feel stress. Additionally, overtime pay seems unlikely :)

Re: Robinhood Is Down Again?

#100

Post by opportune »

wk0 wrote: post #80

For the algotraders out there, figured their status page could be an interesting indicator: https://github.com/wk0/is-millennial-retail-trading

Those are usually updated manually by a human potentially hours after the outage started. It would probably be better to just probe their backend APIs directly
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