지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
오류제보하기
Recent domestic securities market is experiencing a greatly changing period, due to the development of Internet and high-tech computers. The advance of technology over the past few years has leveled the playing field giving the individual investor access to information and the ability to quickly act on that information in a way that was previously available only to the large institutions.
Day traders are individuals who trade stocks throughout the day often at tiny profit margins. True day traders end each day "flat" or with zero investment in any stocks. Day traders sit in front of computer screens and look for a stock that is either moving up or down in value. They want to ride the momentum of the stock and get out of the stock before it changes course. They do not know for certain how the stock will move, they are hoping that it will move in one direction, either up or down in value. True day traders do not own any stocks overnight because of the extreme risk that prices will change radically from one day to the next, leading to large losses.
Day traders rapidly buy and sell stocks throughout the day in the hope that their stocks will continue climbing or falling in value for the seconds to minutes they own the stock, allowing them to lock in quick profits. Day traders usually buy on borrowed money, hoping that they will reap higher profits through leverage, but running the risk of higher losses too.
However, day trading is an extreme form of investing and many would argue that it is more akin to gambling than to investing. It is fraught with many risks not the least of which is the temperament and emotion of the individual.
As former SEC Chairman Levitt stated in his testimony before the U.S. Senate, "Day trading is neither illegal nor is it unethical. But it is highly risky.
I am concerned that some day traders don't fully understand the level of risk they are assuming. I am concerned that some people may be lured into the false belief that day trading is a surefire strategy to make them rich." Most individual investors do not have the wealth, the time, or the temperament to make money and to sustain the devastating losses that day trading can bring.
But, the federal securities laws do not actually define the term "day trading" or "day trader."
The National Association of Securities Dealers, Inc. has issued several press releases on day trading. The NASD's release of July 29, 1999, describes a NASD rule proposal that was approved by the SEC on July 10, 2000. The rule requires brokerage firms to tell a customer about the risks of day trading before an account is opened and to determine if day trading is appropriate for that customer.
In addition, on February 27, 2001, the SEC approved rule changes proposed by the New York Stock Exchange and NASD aimed at imposing more stringent margin requirements for day-trading customers. Under these rules, customers who are deemed "pattern day traders" must have at least $25,000 in their accounts and can only trade in margin accounts.
I hope that this study on the regulation of day trading in the U.S. Securities and Exchange Commission will help to establish an investment strategy and further study in Korea.
Day traders are individuals who trade stocks throughout the day often at tiny profit margins. True day traders end each day "flat" or with zero investment in any stocks. Day traders sit in front of computer screens and look for a stock that is either moving up or down in value. They want to ride the momentum of the stock and get out of the stock before it changes course. They do not know for certain how the stock will move, they are hoping that it will move in one direction, either up or down in value. True day traders do not own any stocks overnight because of the extreme risk that prices will change radically from one day to the next, leading to large losses.
Day traders rapidly buy and sell stocks throughout the day in the hope that their stocks will continue climbing or falling in value for the seconds to minutes they own the stock, allowing them to lock in quick profits. Day traders usually buy on borrowed money, hoping that they will reap higher profits through leverage, but running the risk of higher losses too.
However, day trading is an extreme form of investing and many would argue that it is more akin to gambling than to investing. It is fraught with many risks not the least of which is the temperament and emotion of the individual.
As former SEC Chairman Levitt stated in his testimony before the U.S. Senate, "Day trading is neither illegal nor is it unethical. But it is highly risky.
I am concerned that some day traders don't fully understand the level of risk they are assuming. I am concerned that some people may be lured into the false belief that day trading is a surefire strategy to make them rich." Most individual investors do not have the wealth, the time, or the temperament to make money and to sustain the devastating losses that day trading can bring.
But, the federal securities laws do not actually define the term "day trading" or "day trader."
The National Association of Securities Dealers, Inc. has issued several press releases on day trading. The NASD's release of July 29, 1999, describes a NASD rule proposal that was approved by the SEC on July 10, 2000. The rule requires brokerage firms to tell a customer about the risks of day trading before an account is opened and to determine if day trading is appropriate for that customer.
In addition, on February 27, 2001, the SEC approved rule changes proposed by the New York Stock Exchange and NASD aimed at imposing more stringent margin requirements for day-trading customers. Under these rules, customers who are deemed "pattern day traders" must have at least $25,000 in their accounts and can only trade in margin accounts.
I hope that this study on the regulation of day trading in the U.S. Securities and Exchange Commission will help to establish an investment strategy and further study in Korea.
목차
1. 머리에
2. 일중매매거래에 관한 위험(risk)의 개시
3. 일중매매거래 구좌의 승인
4. 사기적인 정보공시 및 광고활동(deceptive marketing)
5. 위법한 대여의 알선(unlawful arrangement of loans)
6. 결론
참고문헌
Abstract
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