Also known as the Wiener Borse AG, this exchange is located in Vienna, Austria. It is one of the most established stock exchanges in all of southeastern Europe. The Vienna Stock Exchange facilitates about 60% of all stocks traded in Austria. Founded in 1771, the Vienna Stock Exchange is one of the oldest in the world. It was originally founded to provide a market for bonds issued by the state. This market crashed in 1873 along with several other exchanges around the world during the worldwide depression.
A defunct stock exchange formerly located in Vancouver, British Columbia. A large number of small cap and exploration companies' stocks were traded on this exchange. The Vancouver Stock Exchange finally merged into the Canadian Venture Exchange in 1999. At one point the VSE listed about 2,300 stocks, a great many of which apparently were not very successful. The exchange provides a textbook example of how errors in floating point calculations can lead to enormous discrepancies in the correctness of the index reading. Ultimately, the VSE is an example of one of the world's less successful stock exchanges.
A type of limit order that can be modified by a floor broker according to his or her own judgment, allowing him or her to buy or sell to a set point beyond the bounds of the original order. This trading modifier used along with limit and stop orders allows greater customization and flexibility. An order placed with discretion is often beneficial to the investor because it allows brokers to take into account the momentum and mood of the trading floor and act on it as they see fit. For example, say an investor places an order for 500 shares of ABC with a limit order of $15 and a with discretion modifier. If ABC has fallen to around $15 several times during the day but it seemingly won't get to $15, the broker may use discretion and go ahead buy the shares at $15.05, which is a minimal difference to the investor.
A ratio of the total number of winning trades to the number of losing trades. It does not take into account how much was won or lost simply if they were winners or losers.Win/Loss Ratio = Winning Trades : Losing TradesThe win/loss ratio is also known as the "success ratio". For example, if you made 30 trades and of them 12 were winners 18 were losers, your win/loss ratio would be 2:3. Your probability of success would be 40%. The win/loss ratio is used in calculating the risk/reward ratio. It is not very useful on its own because it does not take into account the monetary value won or lost in each trade. For example, a win/loss ratio of 2:1, means the trader has twice as many winning trades than losing. Sounds good, but if the losing trades have dollar losses three-times as large as the dollar gains of the winning trades, the trader has a losing strategy.
A description of the price range of a stock on a particularly volatile day of trading. Wide-ranging days occur when the high and low prices of a stock are much farther apart than they were the day before. Some technical analysts identify these days by using the volatility ratio. Wide-ranging days mean the most to traders after a strong day of trading. One of these days after a sharp up- or downtrend can indicate that the trend will reverse. Extreme wide-ranging days generally portend a major reversal.
A group of investments which, when combined, create a zero net value. Zero-investment portfolios can be achieved by simultaneously purchasing securities and selling equivalent securities. This will achieve lower risk/gains compared to only purchasing or selling the same securities. Zero-investment portfolios have many uses, including:1. Reducing taxes, because they generate little or no interest income.2. Reducing risk by protecting against unexpected shifts in the value of the held securities. 3. Protecting the overall value of the portfolio so that investment can be made at a later date.4. Determining if the average portfolio returns are statistically different from zero.For example, if John bought (that is, took a long position) one share of XYZ Corp., he would be fully exposed to the change in value of that stock. If, however, John sold the same stock (that is, took a short position), then any movement up or down would be canceled out. The combination of these two positions creates a zero-investment portfolio.
A security trade that is executed at the same price as the preceding trade but at a higher price than the last trade of a different price. For more than 70 years there was an "uptick rule" as established by the U.S. Securities and Exchange Commission (SEC); the rule stated that stocks could be shorted only on an uptick or a zero plus tick, not on a downtick. This rule was lifted in 2007. For example, if a succession of trades occurs at $10, $10.25 and $10.25 again, the latter trade would be considered a zero plus tick, or "zero uptick", trade. It was thought that short selling on downticks may have led to the stock market crash of 1929, but the uptick rule was lifted in 2007 after the SEC concluded that markets were advanced and orderly enough to not need the restriction. It is also believed that the advent of decimalization on the major stock exchanges helped to make the rule unnecessary.
A securities trade executed on an exchange at the same price as the preceding trade, but at a lower price than the last trade of a different price. For example, if a succession of trades occur in the following order - $10.25, $10.00, and $10.00 - the last trade would be considered a zero minus tick or zero downtick trade. Until 2007, Securities And Exchange Commission (SEC) regulations prohibited against selling a stock short on a down tick or a zero minus tick. As a result potential short sales would have to pass a tick test to make sure that the stock was trading up or flat before the short sale could go through. The restriction was eliminated after the SEC concluded that U.S. markets functioned orderly enough that excessive short sales would not artificially drive down prices. The advent of decimalization also helped the rule get lifted because it reduced the average size of a tick move from fractions to pennies.
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