so taking into account the figures that only 12% of day traders trade make any cash........who makes all the money ????.....its easy really.........each time we trade the brokers take their commission......they often make a bit extra on the side because they can see the orders on the book and trade in front of them (sorry for being cynical but it was my job :-) ).......thats why everyone wants to be a city broker.........its money for nothing !!
A study by the North American Securities Administrators Association suggested that only about 12 percent of day traders might trade profitably, and that some 70 percent “will almost certainly lose everything they invest.” (Note that trading “profitably” does not necessarily mean beating the performance of the S&P 500, available via inexpensive index funds.)
According to managers of day-trading firms cited in a Washington Post Magazine article, about 90 percent of day traders “are washed up within three months.” A principal of a day trading firm even admitted, “95 percent will fail in the first two years.”
I hope you're taking the p#ss. You asked the same question at 35p! Maybe they bought at 26p, maybe they want to put the funds in a share that will actually go up or maybe they think we will hit the 20's again. Anyway roll on Monday and news:)
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