Day Traders?

[Major von Tempsky]

Where are our vaunted Day Traders? Nearly every day lately Spark sinks significantly at the open then near and at the close of trading it rises significantly.
I'm not into DT for tax reasons but I'm sure others could discern similar patters with other NZX shares that aren't being taken advantage of...

[Xerof]

If the prime brokers are nett buyers they'll sell in the morning to flush out the 'flies', opposite if they are nett sellers.

not worth it IMO

[couta1]

Where are our vaunted Day Traders? Nearly every day lately Spark sinks significantly at the open then near and at the close of trading it rises significantly.
I'm not into DT for tax reasons but I'm sure others could discern similar patters with other NZX shares that aren't being taken advantage of... Spark doesn't always follow this pattern, sometimes it operates in the reverse manner. Highly liquid stocks like SPK get driven up and down by big players at will, the rest of us are just reef fish amongst the Sharks. I doubt many day traders would trade the stock at the current lofty prices anyway, good chance of getting skunked, besides it's more of a swing trading kinda stock IMO.

[hardt]

Day trading on the NZX is not worth the effort, Nasdaq has the volatility to make it work... a well placed investment is still the best way to make money in the market, day trading is gambling. anyone who tells you they can read and predict an intraday pattern is either delusional after having a good run or just straight up lying.

[Snow Leopard]

Day trading on the NZX is not worth the effort, Nasdaq has the volatility to make it work... a well placed investment is still the best way to make money in the market, day trading is gambling. anyone who tells you they can read and predict an intraday pattern is either delusional after having a good run or just straight up lying.

Day trading, like any other form or investing, can be profitable provided you have a reliable system, with good set-up identification & exit rules, plus the discipline to follow it.
Experienced traders/investors improve their skills with time and know when to keep out.

Most of your statement is merely you expressing your own particular bias.

Best Wishes
Paper Tiger

[percy]

I met a man who trades for just an hour, every night trading currency,Euro againt the Greenback,at the open.
Been doing it for a couple of years.
He enjoyed it,making a big change from his day job.
As PT pointed out he had reliable systems,and discipline.I did note he said he closes out his positions at the end of the hour.

[stoploss]

I met a man who trades for just an hour, every night trading currency,Euro againt the Greenback,at the open.
Been doing it for a couple of years.
He enjoyed it,making a big change from his day job.
As PT pointed out he had reliable systems,and discipline.I did note he said he closes out his positions at the end of the hour.

Wonder what he means at the open ...basically a 24 hr market ....

[percy]

Wonder what he means at the open ...basically a 24 hr market ....

Did not ask him.

[Snow Leopard]

For those of you who have not yet read any of the volumes of my book series:
"The Tiger Traders Tome of Tumultuous Timely Trades, Tabulated by Type"
here is an excerpt from Volume 3 - "Turning Terrible Trades to Triumph":

"One lunch time after having consumed a meager offering of capsicum spread sandwiches I glanced at the list of NZX announcements and noticed that the most recent announcement not only contained the words 'takeover offer' in the title but that the clock on the office wall and the announcement time were the same.

Quickly I logged into my trading account and put in a bid for all the shares in the company I could afford, this amounted to 18,000 at $0.20 each.

Enjoying the adrenaline rush that came with hitting the Confirm button, I then looked beyond the headline and to my horror discovered that the 'takeover' was merely a procedural necessity and not an actual real somebody wants to buy the company at a premium.

My horror was compounded by the fact that my order had completely traded. Adrenaline rushes were nothing compared to the grip of fear round by heart!

But then this turned to absolute delight when on checking the depth I discovered that a sufficient number of slow reading people had got through the headline but not so far into the body of the announcement and I was able to quickly sell them the lot at a nice profit.

http://assets.amuniversal.com/48539550f6fd01347d7e005056a9545d

In the space of about 3 minutes I had made a gross profit of $440.50 on an initial $3,629.95.


There was going to be fresh tuna on the table that night."

Best Wishes
Paper Tiger

[cyclist]

For those of you who have not yet read any of the volumes of my book series:
"The Tiger Traders Tome of Tumultuous Timely Trades, Tabulated by Type"
here is an excerpt from Volume 3 - "Turning Terrible Trades to Triumph":

.... (snipped)

There was going to be fresh tuna on the table that night."


Classic. But surely a side of Buffalo or similar would be more in keeping :eek2:

[Snow Leopard]

Classic. But surely a side of Buffalo or similar would be more in keeping :eek2:

You start here (http://www.gocomics.com/calvinandhobbes/1985/11/18):
http://assets.amuniversal.com/cc713730deb701317193005056a9545d

Best Wishes
Paper Tiger

[RupertBear]

For those of you who have not yet read any of the volumes of my book series:
"The Tiger Traders Tome of Tumultuous Timely Trades, Tabulated by Type"
here is an excerpt from Volume 3 - "Turning Terrible Trades to Triumph":

"One lunch time after having consumed a meager offering of capsicum spread sandwiches I glanced at the list of NZX announcements and noticed that the most recent announcement not only contained the words 'takeover offer' in the title but that the clock on the office wall and the announcement time were the same.

Quickly I logged into my trading account and put in a bid for all the shares in the company I could afford, this amounted to 18,000 at $0.20 each.

Enjoying the adrenaline rush that came with hitting the Confirm button, I then looked beyond the headline and to my horror discovered that the 'takeover' was merely a procedural necessity and not an actual real somebody wants to buy the company at a premium.

My horror was compounded by the fact that my order had completely traded. Adrenaline rushes were nothing compared to the grip of fear round by heart!

But then this turned to absolute delight when on checking the depth I discovered that a sufficient number of slow reading people had got through the headline but not so far into the body of the announcement and I was able to quickly sell them the lot at a nice profit.

http://assets.amuniversal.com/48539550f6fd01347d7e005056a9545d

In the space of about 3 minutes I had made a gross profit of $440.50 on an initial $3,629.95.


There was going to be fresh tuna on the table that night."

Best Wishes
Paper Tiger

Cant seem to locate a copy of your book PT. Perhaps it has sold out? I wonder if it is on Kindle? Hope so as I would love to read it :p

[RupertBear]

You start here (http://www.gocomics.com/calvinandhobbes/1985/11/18):
http://assets.amuniversal.com/cc713730deb701317193005056a9545d

Best Wishes
Paper Tiger

No one should ever try and trap a tiger :scared: Thankfully Tigers are too clever to be caught! :)

[hardt]

Day trading, like any other form or investing, can be profitable provided you have a reliable system, with good set-up identification & exit rules, plus the discipline to follow it.
Experienced traders/investors improve their skills with time and know when to keep out.

Most of your statement is merely you expressing your own particular bias.

Best Wishes
Paper Tiger

Not saying it is impossible to do well day trading...

Quite often after a horrible announcement I will buy into an emotion fuelled sell off at the open and end up with a great return by the end of the day...

I personally expect far greater returns investing over the long run and better yet I will have time during the day to take care of myself, spend time with family & friends, sleep well, have a life and not spending it all day hunched over a computer screen scraping the market everyday for a few pips.

Needless to say, long term investment is why we have the markets in the first place.

Maybe if I didn't have a job, a lot of free time and $10m - I could make 100k a day on all of 1% return... actually no, I would still buy and hold, drive the porsche out to the harbour, take the yacht out, drink champagne and enjoy life.

Without bias, opinions don't exist.

[arc]

Personally I think day traders as a group have been the hardest hit by the High Frequency Trading algos./robots. I have been researching market trends for a couple of years. There was a big increase in robot trading here in 2016, and so far this year it is looking like an increase on last years numbers. These guys work in the seconds/fractions of a second between orders being placed and submission to actual trading system, approx 78% of human trades are being front run by these scalpers. Unless there is a very strong uptrend, (these are usually fueled by the robot systems), human trades are strongly disadvantaged. The robots also pop the bubbles they create when certain criteria are met, after all its not good to kill the cash cows, you.. me..

[000831]

I come with $200k+ investment, so cannot relay on the high frequency trading. I must follow the fundamental analysis and do the long term holdings.

[Traderwannabe]

HotCopper has a Day Traders forum which is very interesting to follow if you are keen on Day Trading, they also have a Short Term forum. It's Australian but worth a look. A lot of very knowledgable posters.

[bottomfeeder]

There is a day trader very active on AMP on the NZX, then sales to overseas ASX. I believe that is called arbtrage. Tried to follow in his footsteps, but everytime the price was down, and I placed an offer, he would come in just above me. So the saying goes, there is competition amongs day traders as well, which make it more difficult to get the shares at a price that makes it worthwhile.