Tìm kiếm tài liệu miễn phí

Insider S Guide To Trading The World S Stock Markets_1

Bạn có thể có tất cả các nguồn lực, công cụ, kiến thức và kinh nghiệm xử lý của bạn, nhưng nếu bạn không thể có được một va li về cảm xúc của bạn, rất có thể bạn sẽ không làm rất tốt trong thị trường chứng khoán

Đánh giá tài liệu

4.6 Bạn chưa đánh giá, hãy đánh giá cho tài liệu này

Insider S Guide To Trading The World S Stock Markets_1 Insider S Guide To Trading The World S Stock Markets_1 tài liệu tài chính, báo cáo tài chính, đầu tư tài chính, quản trị tài chính, tài chính doanh nghiệp
4.6 5 2150
  • 5 - Rất hữu ích 1.296

  • 4 - Tốt 854

  • 3 - Trung bình 0

  • 2 - Tạm chấp nhận 0

  • 1 - Không hữu ích 0

Mô tả

  1. 11 they represent, even if it means risking their own capital to bridge what they hope are temporary gaps in the market. There are three ways in which you can place a market order. • You could place an order through your broker on the Internet or by phone. Your broker then sends your order to the NYSE floor where a floor broker who represents your broker approaches the specialist with your order. The price of your order will be confirmed through your broker. • Once your broker receives your order, he/she could submit your order through a SuperDot machine, which is a computerized system that sends your order directly to the specialist. From there your order is fulfilled at the exact price and number of shares and sent back to your broker, who then informs you of the news. • Skip the broker and place the order yourself on a level II order entry software system that contains a superDOT button for order execution. Send the order directly to the specialist and wait a minute or two for a response. www.clickevents.co.uk
  2. 12 NASDAQ The ownership of stock is traded very differently in the NASDAQ market than in the NYSE. First of all, the NASDAQ is a negotiated market where buyers and sellers fiercely compete for the best prices. Second, there are no specialists on the floor maintaining orders and acting as auctioneers. Therefore, all the transactions are based on a system where bids and offers are extended or posted on an electronic system. Third, most of the participating companies are newly formed businesses and evolving technology companies that lack a long history as proof of sustained business practices. This widely known fact is what makes the NASDAQ market so volatile and speculative. The NASDAQ is comprised of levels one and two. The first level is considered the basic inside market. This area has the best current buying and selling prices and is used by stockbrokers and online investors who are committed to longer-term stocks. Level two is where the daily action happens, and where professional day traders at the NASDAQ spend most of their time. Since level two is most important to the day trader, the next section is completely devoted to the NASDAQ Level Two System. NASDAQ Level II Trading in the NASDAQ market is definitely more complicated than in the NYSE, especially at level two. The Specialists and SuperDOT machine make ordering systems seem very simple compared to the various order routing systems of the NASDAQ, such as SOES, SelectNet, and ECNs, which will be explained in greater detail later. Part of this complication comes from the many changes and upgrades over the last three decades since its creation. For instance, until October 30, 1998 the NASDAQ Stock Market and the American www.clickevents.co.uk
  3. 13 Exchange Stock Market were two separate markets. Now that they have been combined as one market – the Amex Market Group, although they still operate very differently. Think of the NYSE as a socialist system and the NASDAQ as more of a democracy. That doesn’t mean you are better off trading at the NASDAQ. In fact, if just starting out, you would be better off getting your feet wet at the NYSE first. Your losses are likely to be less, giving you time to adjust and learn as you gain experience. The NASDAQ is too much of a roller coaster for beginners and even some intermediates. At least when you’re riding a roller coaster you can see where the track is leading. NASDAQ doesn’t even give you the courtesy of that advantage. Where the NYSE has specialists maintaining a certain amount of control over the stocks they represent, the NASDAQ has what are known as market makers. Again, the difference between the two is very significant. For example, several market makers are allowed to participate in NASDAQ stocks at any given time and they generally represent stocks to the public. Market makers are also referred to as dealers. They actively compete with one another to provide the best possible prices to the public. Therefore, the act of representation brings a certain vulnerability to the public in regard to pricing and lack of personal access to certain information. The National Association of Securities Dealers (NASD) operates the computer-based stock exchange and all electronic transactions from Trumbull, Connecticut. Because of the power market makers have over the public, the NASD goes to great lengths in the prevention of price fixing, and imposes heavy fines for any such known or discovered violations. According to NASD rules, market makers must provide the following: www.clickevents.co.uk
  4. 14 1) A liquid market in which there is a constant buying or bid price, and overtly a selling or asking price. 2) Execute customer orders of both large and small investors. 3) Trades for their own accounts in utilizing their experience to keep the market rolling. Many day traders think of market makers as their professional enemy when caught up in the whirlwind of things. In reality, market makers are a huge part of the over all scheme of things. They are a great resource in the business if you are open-minded enough to observe their actions and gauge the weaknesses and strengths of their strategies. As a trader on the NASDAQ, you can buy and sell stocks in one of two ways: • Place an order with your broker via phone or Internet. Your broker will send your order to the market maker to fulfill the order. Your broker then informs you of the completed order. • Bypass the broker all together and place your order through a sophisticated online system where you can click the Buy button. No waiting for confirmation is necessary. Either you see your order fulfilled immediately or it slips in line as an ECN order along with all the others, including the market maker orders. At this point it might be helpful to know more about an ECN order, or otherwise known as Electronic Communication Networks. The development of ECNs in the NASDAQ trading system practically revolutionized the system from its earlier days. It has enabled individual investors and small institutions the ability to manually post bids and offers directly into the market. This has greatly improved the overall liquidity of stocks, increased competition, and effectively www.clickevents.co.uk
  5. 15 lowered prices. Since then it has become apparent that most prices posted by ECNs are generally more competitive than those posted by market makers. Although, ECNs are becoming increasingly popular with each year, they still do not provide the responsibility of liquidating stock as market makers do. Therefore, fewer orders are processed through ECNs than through market makers. The value of the ECN is the fact that it is convenient for people to communicate buying and selling agreements through an electronic system that doesn’t require them to leave their office, is fast in processing transactions, and easy to perform. NASDAQ Level II Definitions When you first look at a NASDAQ Level II online screen or other reports, you might feel you need a decoder reference or at least a translator. There are several symbols and abbreviations that mean different things. The colorful image to the right is an actual screenshot NASDAQ Level II Screenshot www.clickevents.co.uk
  6. 16 of Level II. The list of definitions below, are intended as a quick cross-reference to help you decipher the meaning of some of the listed abbreviations. Please realize that this table only includes the necessary basics and not all abbreviations are included. www.clickevents.co.uk
  7. 17 Abbreviation Definition C Yesterday’s closing price O Today’s opening price H Today’s highest price traded L Today’s lowest price traded Status (+ or -) since the last trade compared to S yesterday’s close Number of market makers or ECNs at the inside bid vs. R inside ask V Number of shares traded since opening BID List of buyers with ID, price posted, and size ASK or OFFER List of sellers with ID, price posted, and size INSIDE BID Best current buying price INSIDE ASK Best current selling price Actual transactions report. Even though all trades are TIME & SALES immediately reported, this column sometimes reflects delays MM/ECN ID Abbreviations representing market maker or ECN Price posting, in which prices are generally rounded up. PRICE Some software may reflect non-rounded numbers. SIZE Order size, usually quoted in 100 share multiples. Market makers or Dealers representing NASDAQ firms, holding inventory, executing orders for customers, trades, MM and even their own accounts. Also, consists of brokerage houses & wholesale brokerages. Electronic Communication Networks that are privately ECN operating to facilitate market bids & offers directly into the NASDAQ, and are not required to create markets. www.clickevents.co.uk
  8. 18 European NASDAQ The European NASDAQ is a European Trading System (ETS) that operates around a market maker system as in the U.S., but it is further customized to European practices to accommodate the international market. ETS is a sophisticated state-of-the-art trading platform on a fully automated technology system with the ability to support nearly 2.5 million daily trades. One of the intended roles of ETS is to drive down the large costs of cross-border trading. The range of securities that are available through the European NASDAQ includes the Listed Financial Instruments and the Traded Financial Instruments. The market makers are required to maintain quotes in registered securities for the trading day. The following rules must apply for each quotation: • The quotation should be entered in the currency of the security • Offer the Minimum Quotation Size (MQS) for that security on both the buy and sell sides of the quote • Entered in a principal capacity • Represent trading prices for standard agreements LSE The LSE is the UK’s main stock market as well as the world’s leading exchange for international businesses worldwide. The LSE is a historical market dating back over 200 years to its initiation. Traditionally, it operated as a floor- based exchange system until it became the first major exchange to implement screen-based trading. Innovation and flexibility eventually propelled the market www.clickevents.co.uk
  9. 19 from face-to-face trading to a quote-based system of trade on an electronic bulletin board known as the Stock Exchange Automated Quotations (SEAQ). In 1997, the LSE leaped forward again when it instituted a new fully electronic, automated trading system that significantly changed the market’s functionality. In addition to simply providing a composite for price distribution and other necessary information for trade reporting, it now provided execution processes by matching up buy and sell orders. The new system reduced transaction costs and helped to narrow the spread between buy and sell prices, including attracting new businesses and greatly increased cross-border stock trading. The LSE is made up of two market segments known as AIM and techMARK. The AIM market was instituted in 1995 for the specially tailored needs of growing businesses worldwide. This market provides a medium for investors who believe in the potential growth of new companies. It has proven as a significant vehicle for growth and realized potential as the total combined capitalization of AIM companies was up to £13.3 billion in April 2001. The market’s flexibility has made it a marketable, attractive listing investment for a wide range of companies around the world from young to financially backed businesses even with long-term operating practices. Companies of all industries are involved in the AIM market from innovative technology based firms to distribution and leisure FTSE AIM Chart from the LSE Web site. businesses. www.clickevents.co.uk
  10. 20 The techMARK market was launched in 1999 to meet the needs of innovative technology businesses as they embark on the routes of new challenges and untried technologies. All the member companies of techMARK have similar goals and a common commitment to the technical industry. Even though many of the techMARK member companies range from various industries, the predominant industry of this market are businesses in software development and computer services, including biotechnology, Internet, semiconductors and fiber optics. Information for techMARK includes statistics on daily trading, index values, business sectors, and market capitalization through numerous charts, and FTSE approved indices. It would be interesting to note as of July 2001, techMARK had a market capitalization at £453.3. The LSE also provides a landMARK service that highlights the potential of quoted companies in all areas of the UK. Access is given to detailed information regarding the local landmarked areas of England in the North West, South East, South West, North East, London, and Yorkshire, including East Anglia, Midlands, Wales, Ireland and Scotland. The extraMARK services provided by the LSE were designed for investment firms to provide unique business opportunities. The focus is on attractive portfolios for investors of varying sizes with innovative development and trading capabilities. The first product launched from FTSE techMARK Chart from the LSE Web site. extraMARK were Exchange Traded Funds (ETF), which integrate the www.clickevents.co.uk

Tài liệu cùng danh mục Đầu tư Chứng khoán

The Intelligent Investor: The Definitive Book On Value part 63

The Intelligent Investor: The Definitive Book On Value part 63. The purpose of this book is to supply, in a form suitable for laymen, guidance in the adoption and execution of an investment policy. Comparatively little will be said here about the technique of analyzing securities; attention will be paid chiefly to investment principles and investors’ attitudes. We shall, however, provide a number of condensed comparisons of specific securities - chiefly in pairs appearing side by side in the New York Stock Exchange list in order to bring home in concrete fashion the important elements involved in specific choices of common stocks....

Getting Started in Currency Trading Winning in Today's Forex Market_5

Tham khảo tài liệu 'getting started in currency trading winning in today's forex market_5', tài chính - ngân hàng, đầu tư chứng khoán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả

Báo cáo phân tích của CTCK có đáng tin cậy?

Thời gian qua, khi thị trường “lình xình” và chưa rõ xu hướng, nhiều NĐT tìm đến các nhận định và báo cáo phân tích của CTCK để tham khảo cho quyết định đầu tư của mình. Họ càng hoang mang hơn với những khuyến nghị trái chiều hoàn toàn giữa các CTCK. Ngoài ra, sự tồn tại nghiệp vụ tự doanh trong CTCK đã khiến không ít nhà đầu tư lo lắng. Nhiều người còn cho rằng CTCK ra bản tin nhằm mục đính “đánh lên hay đánh xuống” thị trường để phục vụ cho hoạt động tự doanh...

Phân tích tài chính - Định giá cổ phiếu

Bài này vận dụng các khái niệm và mô hình DCF để định giá các loại cổ phiếu ưu đãi và cổ phiếu thường. Qua bài này học viên không chỉ được làm quen với mô hình định giá cổ phiếu mà còn biết cách sử dụng mô hình này trong một số tình huống định giá và phân tích tài chính khác. Tuy nhiên, trước khi bắt đầu định giá chứng khoán cần phân biệt một số cặp khái niệm sau đây về giá trị. ...

Kiến thức về môn chứng khoán

Thị trường chứng khoán là một thị trường mà ở nơi đó người ta mua bán, chuyển nhượng, trao đổi chứng khoán nhằm mục đích kiếm lời. Tuy nhiên, đó có thể là TTCK tập trung hoặc phi tập trung. Tính tập trung ở đây là muốn nói đến việc các giao dịch được tổ chức tập trung theo một địa điểm vật chất.

Giả mà không giả - thật mà không thật

Ai cũng biết đầu tư khác với khai thác. Nhà đầu tư khác với nhà đầu cơ kiếm lời. Vậy mà rất nhiều trường hợp, thậm chí hầu hết các “nhà đầu tư” đều cho là như nhau.

9 bí quyết để trở thành nhà đầu tư dài hạn thành công

Dưới đây chín nguyên tắc cơ bản nhất cho việc tiếp cận thị trường với cái nhìn dài hạn. Song hãy nhớ đó chỉ là những điều chung nhất bởi việc áp dụng chúng thế nào còn phụ thuộc vào hoàn cảnh cụ thể. Cùng tham khảo tài liệu "9 bí quyết để trở thành nhà đầu tư dài hạn thành công" nhé.


Nguyên tắc sóng Elliott là một trong những công cụ phân tích kỹ thuật mà một số nhà kinh doanh chứng khoán dùng để phân tích những xu hướng giá trong các thị trường tài chánh. 1) Lịch sử hình thành. Nguyên tắc sóng Elliott là một trong những công cụ phân tích kỹ thuật mà một số nhà kinh doanh chứng khoán dùng để phân tích những xu hướng giá trong các thị trường tài chánh. Nói cách khác đây là một cách biểu diễn các trạng thái tâm lý khác nhau của con người bằng đồ thị. “Cha đẻ” của nguyên...

Mẫu Harami

Mẫu Harami được xem hoặc là tăng giá hoặc là giảm giá theo những tiêu chuẩn cơ bản như sau: Harami tăng giá: 1 Harami tăng giá xảy ra khi có 1 nến giảm lớn màu đỏ ở ngày thứ 1, tiếp theo là 1 nến nhỏ giảm hoặc tăng ở ngày thứ 2.

Quy tắc đầu tư cổ phiếu (luôn lãi và không bao giờ lỗ)

Phần 1: Quy tắc vàng 3 x 7 = 21 Một đội bóng không để lọt lưới luôn luôn làm một đội chiến thắng, triết lý ngược đơn giản vậy nhưng có quá nhiều người lại coi thường và làm ngược lại, tại sao Asenal thành tích lại nghèo nàn như vậy ở cả hai đấu trường Ngoại hạng và Champion cup. Hãy xem các đội bóng của người Ý, họ mới nhiều thành tích làm sao ? Khi bạn đầu tư chứng khoán, trước khi nghĩ đến chuyện kiếm một khoản tiền mang về thi hãy nghĩ đến việc...

Tài liệu mới download

Từ khóa được quan tâm

Có thể bạn quan tâm

Bộ sưu tập

Danh mục tài liệu