Suppose I do a cash advance on my credit card for $4,000. ($200 fee for doing it).
Then, I use Robinhood Gold and instantly deposit it.
Next, I use margin to buy $8,000 total of DWAC (about 140 shares).
This would make a hell of a day trade, right? Any thoughts? Maybe swing trade for a week, pay back, and keep profits?
Edit: I would have a stop-loss in place to hedge losing bigly, of course.
Update: Still watching, researching, and waiting for the right time to pounce. Focused on daily RSI and volume to gauge price action. Will post any results from a trade if it happens.
I'd say after all we learned from GME, using Robin Hood is foolish.
Besides, this is more than a week play. This is long term success.
Also, if you don't have the extra money for the casino don't play.
Purple crayons are best.
Thanks for the advice. No doubt it's good long term, but I plan on using the volume for intraday scalping. A $4 swing would net 560 bucks intraday. $5 rise would be $700.