L$ Traders?!

300 is clearly the Support level and not likely to be broken unless another "announcement" from LL.

I am however not bothered to trade L$. My skills as trader would be disprportionately underpaid in this market. If I have to trade, I d do DOW or S&P, why L$. I come on SL to play and enjoy....yes, PLAY, PLAY, PLAY.
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Jamie, you have some kinda compulsive need to keep rattling your panic slogans, don't you? Wrong place sweetie, this thread would attract professionals who would laugh at you. Better stick to generals and keep them making panic, as it seems your agenda.

Alrdy have money in place.

I have a lot of fun trading L$, actually. When I'm bored, I hop over to the SL Exchange currency market, deposit some L$, enter some orders and watch the action develop. On my best day, when I'm paying lots of attention, I may make like L$1,000. Typically, L$250 - L$500. The upside is I only have to play with $300 - $500 USD.

So yes, this is pennies, and would be a stupid way to spend time that one wants to convert into money. I'll give you that. But, it's challenging, mentally stimulating, and provides a VALUABLE service (liquidity) to the Second Life community. The interesting thing about the prospect of trading on LindeX though, is that there's a lot more volume than SLEx.

Will you find people to trade BILLIONS of dollars worth of assets with every day like you will in RL financial markets? OF COURSE not. BUT, you will find people to trade around $30,000 worth of assets (and climbing steadily) with every day!

If you could get in on half of those trades, and earn say, a 3.5% margin (same as LL takes, pulling a number out of the sky here) on every trade, that would net you around $190,000 per year. Not a bad hobby, as far as hobbies go. I have another hobby that can COST $190,000 per year if you let it (no, I don't let it ). Additionally, (if LindeX proves to be anything like SLEx for traders) there won't be a whole lot of risk involved.

So, overall, I'm looking very much forward to doing some L$ trading on LindeX! When I'm not "working" in SL, I'll most likely be found on LindeX having a good time and (hopefully) making a few L$ while I chat in IMs.

Cool

I think new range would be 300-350 roughly, as long as 300 support is intact (which I would like to see broken cos it is in best interest of everyone). However that level apparently seems formidable support as it acted as strong resistance for quite some time previously. So what do you think? 300-350 is new range? But we cant forget the trend is still up (meaning decline in L$ value).

Come on everyone, share your views.

I no longer share my specific L$ analysis publicly. It doesn't matter if I hit it right on the mark, or am way off. There is a (sometimes different) group of people to jump on me for each occasion. So, I figure, why feed the trolls?

Use to trade on GOM and now on the SL Exchange system. Whilst the Lindex introduction of the rquired trading features are great I think the fees involved makes trading unviable since as you say Shaun a 10% margin is potentially needed to handle the risk.

Like you I've been wondering about the 3.5% fee for each transaction. After all it would make better sense to charge 3.5% to deposit into your US$ account and then if necessary charge a flat fee. Or go with the approach at SL Exchange.

Still if the market is volatile enough then there will be opportunities to trade.

I'll be giving trading a go - mostly for fun and hopefully to learn something. As such my goals will be rather modest... so 6-10% seems fine to me. I'll be dealing with a lot less volume than many of you, so as long as it comes out on the plus side at the other end, any gain will be fine, I won't be risking that much. Trading is not something I have the finances to do RL, so this strikes me as a cheap way of having some economic fun.

This is a key issue for me. I have no interest in becoming an active trader unless tiered discounts for large volume trades are enacted. A flat 3.5% transaction fee irrespective of lot value does not encourage market makers.

I agree that LindeX would be much better if sellers did not have to pay a buyer's USD deposit fee, when a buyer deposits money in order to make an L$ trade. It has never made any sense to me why I have to pay someone else's transaction fee. I really feel like I'm being forced to offer a charity to USD depositers if I want to sell L$. Can I write this 3.5% off on my taxes?

I don't know... do you declare the profits you make in L$ on your taxes? I kinda doubt anyone out there does. Frankly, the tax implications of L$, which cold possibly be considered an international (rather not of this nation) currency are quite intriguing to me. It's at least a hell of a tax shelter.

The USD gained from L$ sales is income. Income is taxable. I was actually joking about delcaring the charity to USD depositers on the behalf of L$ sellers on taxes though. I was just trying to illustrate my point more clearly.

I was actually being serious. Technically, the interest you pay to Linden is financial service fees, which, up to a point, can be deducted. It's money that you did not make. Erf. um, yeah. t's also money that you do not receive when you trade L$ for US$, so the point is kinda moot.

Actually, what I'm wondering is, which would be better, leaving the %3.5 fee for selling to discourage sellers, or getting rid of the fee to encourage trading? Former would supposedly slow down the decline, and the later would make the market a bit more volatile, but I guess bsed on how things are going, the former isn't really working too well.