Meet NZ’s high-octane day traders

Meet NZ’s high-octane day traders
Day traders like Shammy Singh buy shares, then sell them again within hours or days. (Image: Supplied)
Dan Brunskill
One night in 2015, 22-year-old Shammy Singh got out of bed at 3am to trade stocks on the US markets from his home in Hamilton. Before the sun had risen, he had lost $20,000.“My emotions kicked in, I opened up a really large position and made a $20,000 loss in one hour, between 4am and 5am, sitting by myself in the dark,” he told BusinessDesk.“It was a huge blow, and I thought to myself: ‘Shit, trading is not for me’.”But Singh, now 28, didn’t quit. He says day trading was like learning an extreme sport:...

More Markets

NZ sharemarket celebrates a near 1% Easter rise
Markets Market close

NZ sharemarket celebrates a near 1% Easter rise

The S&P/NZX 50 Index closed at 12,105.29, up 94.62 points or 0.79%.

Graham Skellern 28 Mar 2024
F&P Healthcare facing $12m bill for product recall
Markets

F&P Healthcare facing $12m bill for product recall

The company will provision the cost in its next full year results.

Staff reporters 28 Mar 2024
Synlait seeking help from major shareholder for $130m debt
Markets

Synlait seeking help from major shareholder for $130m debt

Synlait enters trading halt as it needs more time to come up with cash.