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Big, Round, and Probable

In: STOCKS and FOREX TRADING HOW TO WIN

Author

Listed:
  • KAREN WONG
  • DARYL GUPPY

Abstract

Going once, going twice … SOLD at $1,450,000! During a live house auction, a leading bidder was reluctant to increase his bid by $1,000 to make it $1,451,000, resulting in the sold price of $1,450,000 to the nearest competitor. We just love round numbers; 50, 100, 120. Auction results of properties sold are more often than not the prices ending with nice round numbers. These are levels where buyers, sellers, and price seem to naturally agree and intersect. Much the same is seen in trading as it is similar to the continuous bidding at an auction. The big figure numbers and the round numbers can provide high probability areas to enter or exit a trade…

Suggested Citation

  • Karen Wong & Daryl Guppy, 2021. "Big, Round, and Probable," World Scientific Book Chapters, in: STOCKS and FOREX TRADING HOW TO WIN, chapter 7, pages 55-59, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811236877_0007
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    More about this item

    Keywords

    Trading; Stock Trading; FX trading; Currency Trading; Forex; CFD; Security Trading; Trading Games; Daryl Guppy;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G1 - Financial Economics - - General Financial Markets

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