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Trading platforms that reward do-it-yourself investors through “gamification” strategies are increasing the risk of losses in online portfolios, a new study says. In a research report scheduled to be released on Thursday, the Ontario Securities Commission in collaboration with British-based Behavioural Insights Team found that investors who received rewards from trading platforms – such as digital points or online badges for buying or selling stocks – made almost 40 per cent more trades than those who were not exposed to the same gamification rewards. Gamification is the practice of incentivizing users to trade more frequently or in larger amounts by adding game-like features to trading platforms. Competitive features such as leaderboards, which display the names of users who do the most trades per day, or images of badges or bursts of confetti that reward a first trade in a margin account or a family referral, are encouraging investors to trade more often. Investing apps 101: What a...

The Canadian dollar CADUSD moved slightly higher against its U.S. counterpart on Wednesday as oil prices rose and investors grappled with more hawkish than expected projections by the Federal Reserve. The loonie was up 0.1% at 1.3530 to the greenback, or 73.91 U.S. cents, in volatile trading as equity markets swung in and out of negative territory after a Fed rate decision. The U.S. central bank raised interest rates by half a percentage point, as expected, and projected that the policy rate would rise to 5.1% in 2023, slightly higher than investors expected. “The Fed has downshifted the pace of tightening, but they’re not done yet,” Robert Kavcic, a senior economist at BMO Capital Markets, said in a note. “In addition to how much further they have to go, the major question is how long rates will have to stay at peak levels to ensure inflation pressure is sufficiently quashed.” On Tuesday, the loonie touched its strongest level since Dec. 5 at 1.3519 as U.S. data showed an easing of ...

Tesla CEO Elon Musk attends an opening ceremony for the car maker's China-made Model Y program, in Shanghai, on Jan. 7, 2020. Aly Song/Reuters Tesla Inc TSLA-Q shares touched a fresh two-year low in volatile trading on Friday as boss Elon Musk’s promise to not sell his shares for at least two years did little to reassure investors. Musk has offloaded shares worth $40-billion in the world’s most valuable carmaker since late last year, with $15-billion of that coming after he made similar pledges not to sell in April. That, along with concerns about his distraction with newly bought Twitter and a slowdown in China’s economy, have set the electric-car maker’s shares on course for their worst year since going public in 2010. The stock was last down 1.2 per cent on Friday, after falling as much as 3.5 per cent earlier to its lowest since September 2020. “I won’t sell stock until I don’t know probably two years from now. Definitely not next year under any circumstances and probably not...

A glitch at the New York Stock Exchange prevented the opening auctions for a slew of stocks on Tuesday, prompting widespread trading halts, confusion over whether orders were being filled at correct prices, and trades in more than 250 securities being busted. The NYSE, which is owned by Intercontinental Exchange Inc, said a “system issue” prevented the opening auctions in a subset of its listed securities. The stocks began trading without an opening print, causing erroneous prices that the exchange said will be declared null and void. A spreadsheet released by the exchange showed 251 affected securities. The glitch – the most recent in a series since the “flash crash” of 2010 – impacted stocks of major companies including ExxonMobil, 3M, Verizon, McDonald’s Corp, Wells Fargo and WalMart. The companies did not immediately respond to a request for comment. “What appears to have happened is a technical glitch where all of my opening orders on the NYSE autocancelled even though some of t...

Opinions expressed by Entrepreneur contributors are their own. Short-term trading can be a thrilling and potentially profitable endeavor, but it also requires a deep understanding of not only the markets and strategies but also of one's own trading psychology. The fast-paced nature of short-term trading (scalping, day trading, and to some extent, swing trading) can lead to significant stress and emotional turmoil, which can negatively impact a trader's performance if not properly managed. In this article, we will explore some key aspects of trading psychology and discuss strategies for managing emotions and achieving success in the trading arena: Related: 6 Important Tips for Improving Your Emotional Control 1. Detachment One of the most challenging things about trading is the ability to remain emotionally detached from our trades. This means that you should strive to separate your emotions from your trading decisions and focus on the facts and data. Thi...