我的選擇權賣方絕學線上課程,八月底前訂購再送2小時免費諮詢及面授機宜。

Optionshare 選擇幫

 找回密碼
 立即註冊
查看: 251|回復: 0

研究顯示: 尾盤買,開盤賣的策略大勝

[複製鏈接]
發表於 2019-2-12 22:17:07 | 顯示全部樓層 |閱讀模式

馬上註冊,結交更多好友,享用更多功能,讓你輕鬆玩轉社區。

您需要 登錄 才可以下載或查看,沒有帳號?立即註冊

x
https://www.nytimes.com/2018/02/ ... -hours-trading.html



One possibility, he said, is that frequent traders laboring under the “illusion of control” believe that they can respond easily to information and events during the day but can’t do so as easily after hours, when there are far fewer market participants and less money, or “liquidity,” involved in trading. “People may be inclined to sell at the market close so they can feel in control of their money overnight,” he said.

There is some evidence that smaller traders are prey to this tendency and tend to sell late in the day — and that some big institutional traders, who are well aware of the day-night gap, tend instead to buy at the close and sell at the open.


Because relatively few people actually trade after the market closes, orders tend to build up overnight, and in a rising market, that will produce an upward price surge when the market opens. But during extended declines, overnight sell orders may cause prices to plummet when the market opens.


If there were no trading costs — possible in a thought experiment but not in the real world — an excellent strategy over the last few decades would have been buying shares at the last possible moment during regular trading hours and selling them methodically at the opening bell every day, Professor Gulen of Purdue said.


While transaction costs make that strategy uneconomical, he said, the concept may still have a certain value. “If you do know that you are going to make a trade on a given day, and you have the ability to choose when you do it, you might be able to take advantage of this pattern — buying late in the day and selling early.” Of course, the pattern doesn’t hold every single day, and you could easily be disappointed.


Part of the gap in returns can probably be explained by the human tendency to panic at bad news, Professor Kelly said. “That panic seems to happen during the day,” he said. “One advantage of nottrading during the day is that you aren’t as likely to participate in panicky selling.”





回復

使用道具 舉報

您需要登錄後才可以回帖 登錄 | 立即註冊

本版積分規則

站長信箱|Archiver|手機版|小黑屋|Optionshare 選擇幫.  

GMT+8, 2019-7-19 07:24 , Processed in 0.085859 second(s), 23 queries .

Powered by Discuz! X3.2

© 2001-2013 Comsenz Inc.

快速回復 返回頂部 返回列表