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"Ryan Phillips has spent the last quarter of a century chasing and analysing the elusive creatures which drive daily volumes in financial markets.
The head of specialist trading platform Bell Direct Advantage, part of the listed Bell Financial Group, has devoted his career to uncovering the secret lives of day traders to deliver them the ultimate trading platform experience."
Photography by Biannca at BlueChip Communication
"Bell Direct Advantage
offers all the services a day trader may need. But arguably the most important is access to Phillips himself as a personalised trading manager.
Over his decades servicing high-value clients, he’s learned plenty about the investing rules day traders swear by.
Their greatest priority is speed.
“The most important thing is the priority of their orders. Placing an order as quickly as possible, to get to the front of the queue, is paramount,” he says.
Another successful rule of thumb is that clients who don’t hold positions overnight are generally the ones who don’t have big losses, because they avoid exposure to significant overseas market movements.
The most successful day traders also trade stocks based on momentum, using sophisticated stock-screening tools to identify the best bets before others.
One tool offered by Bell Direct lists stocks with unusual trading volumes, allowing a user to get a better understanding of the flow of trades in a particular stock.
“That provides a quick way to observe the market without you having to do your own research. So if you are a momentum trader, it shows you the unusual volume on the upside as well as the downside,” Phillips says."
Read the full article below:
The secret, lonely lives of our millionaire day traders- The Australian
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