Longer Trading Hours Pros and Cons for Day Traders

Well the inevitable is going to happen and thus one has to be ready as market is going to trade for extended hours wef 27th November 2009 i.e. from 9 a.m. to 5 p.m.The pros and cons for same are as appended below:

PROs

• A new challenge for traders and there will be lot of resistance initially as every change always meet resistance initially.
• Less time available for analysis.
• One can trade in 3 time frames namely 9-11.30 AM, 1-2:30 PM, and 4-5 PM
• Closing of more positions in intraday as longer trading hours and thus more day trading opportunities.
• More intraday brokerage for brokers.
• Alignment with Singapore Exchange Trading timings.
• Not to worry as commodity exchange functions till 11:30 PM.
• Turnover will also increase and in turn increasing revenue for the government by way of taxes.
• Alignment with global markets to an extent. 

Cons

• More stress level for traders.
• More time in front of trading time.
• Less time with analysts to analyze.

Verdict
Initially lot of hue and cry will be raised but later on will become the order of the day and will be accepted with pragmatism.


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