How to Get Access to Pre Market Trading on Robinhood
Are you looking to get a head start on your trades by accessing the pre-market trading hours on Robinhood? This article will guide you through the process of gaining access to this exclusive feature on the popular trading platform.
What is Pre-Market Trading?
Pre-market trading refers to the period before the official opening of the stock market, where investors can trade securities outside of regular trading hours. This extended trading session allows traders to react to news and events that may impact market prices before the market officially opens.
Benefits of Pre-Market Trading
One of the main benefits of pre-market trading is the opportunity to take advantage of price movements based on overnight or early morning news. This can be particularly advantageous for active traders looking to capitalize on market volatility.
Steps to Access Pre-Market Trading on Robinhood
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Upgrade to Robinhood Gold: To access pre-market trading on Robinhood, you will need to upgrade to the Robinhood Gold premium service. This service comes with a monthly fee but offers additional features such as extended trading hours.
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Enable Extended Hours Trading: Once you have upgraded to Robinhood Gold, you can enable extended hours trading in the app settings. This will allow you to trade during pre-market and after-hours sessions.
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Place Pre-Market Orders: After enabling extended hours trading, you can place pre-market orders before the market opens. Keep in mind that pre-market trading hours are limited, typically starting at 4:00 am EST and ending at 9:30 am EST.
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Monitor Your Trades: As with any trading activity, it is essential to monitor your pre-market trades closely. Price movements can be more volatile during extended trading hours, so be prepared to react quickly to any changes in the market.
Tips for Pre-Market Trading Success
- Do your research: Before placing any pre-market trades, make sure you are well-informed about the stock or security you are trading.
- Set a plan: Have a clear trading plan in place, including entry and exit points, to minimize risk.
- Be disciplined: Stick to your trading plan and avoid making impulsive decisions based on emotions.
- Stay informed: Keep up-to-date with market news and events that could impact your trades during pre-market hours.
By following these steps and tips, you can gain access to pre-market trading on Robinhood and take advantage of extended trading hours to enhance your trading strategy. Happy trading!
Accessing pre-market trading on Robinhood can be a valuable tool for active traders looking to stay ahead of the market. By upgrading to Robinhood Gold and enabling extended hours trading, you can take advantage of early morning price movements and react to news before the market officially opens. Remember to do your research, set a plan, and stay disciplined to maximize your success in pre-market trading.
