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Ok, here's the list of infrequently traded shares (thanks Aragorn), I've sorted it by trade frequency. Now all we need to do is draw the line.

I want at least 16 trades a day (2 an hour) but if we want to keep up with the updates we need every 15 minutes ie 32 a day.

Comments?

Patrick this probably a stupid question, but do we buy at the last transaction price or at the offer price?
and do we sell at the last transaction price or at the bid price?

do you get the bid and offer prices?
That would be closest to reality IMO

fair enough

Quote from: Bundu on January 09, 2014, 11:58:16 am

do you get the bid and offer prices?
That would be closest to reality IMO

I don't know that the bid and offer prices are closer to reality than the real transaction prices. In some cases the highest bid/offer price would be a few cents off the transaction figure. By the same token in a choppy market the bid and offer could be quite substantial. The fundamentals of the exchange are that at a point the bidder and offeror agree a price at which they are prepared to buy/sell and the transaction is concluded. So my view is that we need to stick with the last transaction price

Last transaction price is always the reported price. The bid (for sellers) and offer (for buyers) is the realistic transaction price at any point in time. However, with many electronic systems there is often very little volume on the leading bid and / or offer. The price you end up trading at (assuming a best price order) would be the weighted average of the price and volume available. One really needs to see the "stack" i.e. list of all bids and offers and the associated volumes to see where traders are actually interested in trading at.

Often in fast markets you will see electronic systems picking off the bid and offer in small amounts, trying to lead volume into the trade. However, volume can often be hidden as part of an "iceberg" order e.g. you think you are hitting the bid in 1,000 lots and driving the price down but the bid keeps coming back at the same price because the trader has placed an iceberg for 10,000 lots. These are where the real games are played in trading. 

My thoughts on the infrequently traded shares...

While they make it easy for someone to exploit the system on this site by keeping a watchful eye on live data I think there is no need to also eliminate infrequently traded shares.  Perhaps bring the "live" trading back and instead disable the selling feature for 24 hours after buying?  Some of those shares eliminated are still attractive long term despite being "infrequent". 

The problem is most of the beginners AFAIK also use other free online resources that are also delayed.  So my trade would in effect be 30 minutes late here which means if I read a breaking story I can't capitalize on it and at the end of the year I could potentially be 4% down.  (I lost 4% yesterday on Advtech because of the pending rule, I was 14th place on leaderboard before it took me back)

I haven't bought shares before so I don't know if there is any delay in real terms.  If so then you can still leave the pending feature enabled to simulate this...in which case I'm not too heart sore about my 4% loss

But in any event maybe a 24 hour selling disable after purchase is the way to go? 

Bring back the shares people already have...level the playing field. I also have a share that is not available anymore and is doing well...