Table 10 is my trading cost for this session, which shows that I had a negative trading cost, and beaten the VWAP. Furthermore, this is the first time that the total trading cost is negative value, which means my trading skills and strategy is becoming mature step by step.
During this session, my objective …show more content…
Although I have been misled by the price volatility at the end of the trading, I still sold most of my shares at a higher price than others. In addition, the informed traders had the biggest advantages, compared with other session, because the feature of this session is hidden ID, which means the informed trader can easily manipulate the share price by set up bid/ask order. Thirdly, this trading frequency is higher than last two weeks because when ID of traders are hidden, informed traders would trade more aggressively than last two weeks, which resulted in the trading price close to the true price more