Day Traders: The new land barons?

Now that we have limit buys, it occured to me it's created a new type of resident tailor-made for pariah status. The day trader. Now we have a new class of person to blame all our woes on. The Lindex goes up, as it always does, it's gonna be the fault of the day traders. It's starting already, and it's only been a few days. There's already talk of the need for fees on cancellation of orders to prevent 'manipulation' - and any movement in price and people cry 'manipulation'. They're so sure it's happening too. We no longer have just the land barons to despise.

What do you think of day traders: are they the new scourge of SL, siphoning off cash at the expense of everyone else? Will they be the source of much urban myth and responsible for the spawning of a thousand threads, like the barons? Will they send the Lindex into an uncontrolled nosedive? Are they a good thing?

What do you think?

(And yes, I've had a lot of free time on my hands today, they borked OSX 3.9 compatibility, so I can't get in for a day or two!)

I look forward to mingling with this newly created moneychanger class.

Shusshhh... You'll turn the SLers like Jonas and Ranma into
raving lunatics that we Day Traders are manipulation the market.
Even though its the free market that is determining the best price.
Not some trading guru who is twisting his mustache and thinking of
how to screw everybody.

Hey, check out my generous donation of offering to buy over $100k L for just 355, as opposed to $362. (please don't kill me whoever I undercut). That's about $18 worth of lost opportunity there. See? Not ALL day traders are evil.

I don't have enought money in the game i can only make a 500 L's per trade.

I have no idea what you all are talking about. Buy limits? Day traders?

Do a little math and you'll see how to sell and buy.
ps you need about 225 USD to play it.

Are you from Portland, OR or what? lol...

Newest numbers are sell 331....buy at 355...if ya do it with 225 USD you can make about 2789 L's

Heh heh... that would be me for one... I knew that was you!! I've been reading your posts!

Go for it, I sure don't care, my orders are still getting filled at the price I want often enough.

Errr.... what about Canada ?

Blame Canada \o/

I'm sure you won't care, and shouldn't. Buy orders FLY through every morning, so whatever little I have there will be gone by tonight, and yours and then some will be gone by tomorrow morning

Too late for that!

Yup, it's all good

... well yes, am I missing something?

Make a little spread sheet and you can see the best sell and buy offers. and what it cost and what you'll make per trade.

Holy crap! Mine is all gone already, and the one above and below me as well. Nice $.$

Personally I wouldshoot them all on sight inworld if it didnt get me banned I dont want to learn BS money games I just want to make the world a better looking place and maybe pay my tier - Day traders are making ot so that I'll end up having to leave because I'm unemployed and cant afford to continue

Then day trade too. It does pay. VERY tiny ammounts, but it does pay

Day traders? Are you kidding. That's old news. How about hour trading or minute trading!

Lovely, your tiny profits fuck everyone else in the ear.

Yes, and you buying the cheap plots just to resell them at a higher price isn't.

Currency speculation of this type has traditionally been, and should, IMHO, once again be, illegal in RL. I'm saddened to see it sprout up as a profession here. The NeoLiberal, fastest man to the data, get in and get out on a currency market, mentality is nothing but STEALING FROM AN ECONOMY... however "small amounts" the theft might be.

Loaning an economy money and then snatching it back out in this fashion is usury on a grand scale. You fat cats who chuckle together on the Economic forums *coughs*, while taking in "interest" on other peoples REAL creativity, should be ashamed. Next you'll be creating an SL IMF and World Bank complex and loaning Sims money if they promise to do economic "restructuring", remaking portions of their sims, as interest, in whatever image you feel will be most profitable. Just what we need, more islands full of slot machines, escorts, pay for play porn, and crappy malls...

It seems to me like the bloody rich man fantasy all over again. You won't be happy till we're all employed by you and spending our paychecks renting land on your sims, in prefab houses you built, and paying for entertainment that you so graciously provide. This is sick.

Criminals, the model of thinking which allows this type of speculation to go on is as untenable in SL as RL, I just hope the world figures out what you're up to in time.

This universe we live in and create offers so much potential, especially right now. If you want to turn a profit playing this game, do it consciensciously. Provide a service, create art, host a market, do research, gather data for RL, even take corporate sponsorship....but don't be a LEACH. You are providing no goods, and no service, so stop sucking profits off the top.

I hope LL wises up on this one, I, for one, will make it my quest to see that this type of naked speculation is removed from the list of ways one can make money in SL.

It's on your heads....

Molten Magpie

ps what can I say, this thread was all a little too cheery and "yay us" for me. Now at least the casual observer will have SOMETHING of substance to digest.

GREAT idea!

Neoliberals as well as neocons are currency traders in SL as in RL.


I understand your frustration. You may think SL currency traders are criminal but they are using the system that is put in place in a legal way. The saying caveat emptor applies in any financial transaction. Directly playing in any market (be it SL or RL) is very risky--especially if you do not know how the market works.

There are a few currency traders that have tried to educate the masses so as they would not be taken by surprise. For instance, Svar posted a very helpful warning today to make sure sellers didn't get taken for a ride: /130/23/109183/1.html This is not the sign of a "criminal."

I for one, have no interest in currency trading on the Lindex. The profits are negligible and the market is not mature--meaning the liquidity is not sufficient and the players (both buyers and sellers) are not yet sufficiently educated.