One thing you can do is transfer money during the week, and not spend it. Then spend it on the weekend. There's no problem on your side. And there's still a good amount of people trading on the weekend. So I don't see any problem. And there's not much affect on the next week either.
This is an open currency. Making rules like this is restricting it.
Topic: Should trading be closed on weekends?! (Read 3045 times)
Weekends are the best tradding times.
Saturday here = Friday in US
Monday here = Sunday there
So sell on Saturday which always seems to be a high.
Buy on Monday which always seems to be a low.
Saturday here = Friday in US
Monday here = Sunday there
So sell on Saturday which always seems to be a high.
Buy on Monday which always seems to be a low.
I <3 all you free marketers out there!!!! You can see some people's thinking so limited by current paradigms. One day we will all be free thanks to bitcoin!
@joelkatz
speculators also provide an addidiontal critical function, they provide liquidity.
currently i see no top notch exchanges (offering margin, futures, options, shorts) with top level profsionalism. I think when we see the trading market mature we will see even more stability, thanks to speculators and investors alike.
@joelkatz
speculators also provide an addidiontal critical function, they provide liquidity.
currently i see no top notch exchanges (offering margin, futures, options, shorts) with top level profsionalism. I think when we see the trading market mature we will see even more stability, thanks to speculators and investors alike.
It's more complex when it comes to marginal trading. Imagine that you bought a position with say 1:10 leverage for all your depo size. Now, during weekend the market depth is very low and someone significantly pushes the price down by selling a big lot. This leads to a margin call situation and your position forcibly gets closed by selling at market price.
And if it would be closed over weekend, there would be no such situation, the exchange would open smoothly next working day, or open with a gap if something serious happened.
But, I'm not proposing to limit exchanges time at all, just stating an example, especially that such exchange doesn't exist yet I (marginal futures trading). Well, except the one (ICBIT) I am creating
And if it would be closed over weekend, there would be no such situation, the exchange would open smoothly next working day, or open with a gap if something serious happened.
But, I'm not proposing to limit exchanges time at all, just stating an example, especially that such exchange doesn't exist yet I (marginal futures trading). Well, except the one (ICBIT) I am creating
maybe someone could build an exchange for you and similar people that is only open from 9:30 am to 4pm EST time M-F, closed on USA Fed Holidays, and throttle it at noon for lunch.
With the advent of the internet, there's no need to limit trade time.
"lunch is for wimps"
You see, just as soon as the human is removed completely from trading, other than the consumer, we will have 24/7, 365 days (364 on leap years) trading. Things like currency and stock market trading are still limited, but even they will change.
"lunch is for wimps"
You see, just as soon as the human is removed completely from trading, other than the consumer, we will have 24/7, 365 days (364 on leap years) trading. Things like currency and stock market trading are still limited, but even they will change.
Considering the obvious that you can not transfer cash funds to your account on weekends (due to banks being closed) why not close the markets on weekends.
Just wondering what people think.
Just wondering what people think.
When it is the weekend for you it is not the weekend for me
Why don't we get the entire worlds population to just come hang out at your place in the weekends so we can all be in the same time zone.
I'll bring some chips and dip.
Why impose limitations for the sake of imposing limitations? If some people want to trade on the weekend, they should be able to trade on the weekend. No one is forcing you to trade on the weekend.
Well the idea is so that the market is not so volatile due to outside forces. Also people wont FREAK OUT cause they ordered to withdraw their money on Sat and its Monday morning and "WTF ITS NOT HERE!" In my opinion less volatility I think is better for the market.
I like when people are freaking out.
definitely not, the reason trading is closed on weekends for currencies is due to open hours etc of major business that is kinda backing the currency (see banking) since we dont have these limits and are a word wide currency closing trading on the weekends seems ridicules.. and even if you were to close on the weekends.. what timezone weekends would they be ?
Just so I can be clear I do not want to stop trading on weekends. I just brought up an argument for discussion and one idea why I thought it would be useful. I just wanted to see what people had to input into the discussion.
Considering the obvious that you can not transfer cash funds to your account on weekends (due to banks being closed) why not close the markets on weekends.
Just wondering what people think.
Just wondering what people think.
What I think is that there is no obvious cause and effect in your premise. One doesn't have to trade the instant there is fresh cash in one's trading account. Why can't someone deposit cash that is credited on Thursday and then they wait until Saturday or Sunday before trading with it?
Quote
Should trading be closed on weekends?!
...Why?!
I think if it wasn't for automated traders, not trading weekends would make a lot of sense. As it is, though, they're out there and should be capable of stopping the market going insane over the weekend. Also, if Mt. Gox announced they weren't going to trade at weekends, how long before weekend traders move to another exchange?
I agree if you tell me that speculators help to reduce the spread in the market.
They do.Quote
I disagree if you say we need more speculators, or if you say that speculators stabilize the market. Dont you remember the 33$ price spike?
I agree that speculators can destabilize a market when they speculate badly. However, these are not really speculators -- they are gamblers. Speculators, in the sense of rational speculators, stabilize the market.Speculators become rich by stabilizing prices across varying supply and demand bursts. One of the biggest things Bitcoin needs to be seriously useful as a currency is a more stable value and better resistance to supply and demand bursts. Right now, the more speculators, the better for bitcoin.
I agree if you tell me that speculators help to reduce the spread in the market.
I disagree if you say we need more speculators, or if you say that speculators stabilize the market. Dont you remember the 33$ price spike?
no
Speculators become rich by sucking money out of the system.
Umm, no.Quote
Instead the effect of a speculator is just the opposite.
No.Speculators become rich by stabilizing prices across varying supply and demand bursts. One of the biggest things Bitcoin needs to be seriously useful as a currency is a more stable value and better resistance to supply and demand bursts. Right now, the more speculators, the better for bitcoin.
The market depth is much thinner on the weekends.
Official exchanges are closed on the weekend not because they are lazy, but to make speculator's job more difficult.
[/quote]
Speculators become rich by sucking money out of the system.
We all work hard ( I guess ) to make bitcoin more widespread, and thus increasing its value.
Instead the effect of a speculator is just the opposite.
It's obvious what the disadvantage would be -- people who wanted to trade on the weekends could not do so. I'm still trying to figure out what the advantage would be. Care to help me out?
The market depth is much thinner on the weekends.
Official exchanges are closed on the weekend not because they are lazy, but to make speculator's job more difficult.
It's obvious what the disadvantage would be -- people who wanted to trade on the weekends could not do so. I'm still trying to figure out what the advantage would be. Care to help me out?
The market depth is much thinner on the weekends.
Official exchanges are closed on the weekend not because they are lazy, but to make speculator's job more difficult.
Jump to: