The flaw in your plan is trading volume.
Let's say you have just now sold your $5k bundle for .012 and ordered your next lot at .011
Well there are 100 people in front of you waiting on 37 million shares to be sold at .011
Friday just gone only a total of 18.45 million shares were traded at .011 and. 012.
So you could be waiting days for your buy order to fill and even longer for your sell order.
You would be lucky to make 1 buy and 1 sell trade in 2-3 days. More likely would take a week each time. And that's based on the price constantly fluctuating between .011 and .012. Each time it dropped or lifted one pip you could be screwed.
MGT share price, page-148
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Last
32.5¢ |
Change
0.035(12.1%) |
Mkt cap ! $28.54M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 32.5¢ | 31.0¢ | $2.508K | 7.793K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 16576 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.0¢ | 2000 | 1 |
View Market Depth
| Last trade - 10.19am 08/05/2024 (20 minute delay) ? |
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Last
30.5¢ |
Change
0.035 ( 5.17 %) |
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| Open | High | Low | Volume | ||
| 30.5¢ | 30.5¢ | 30.5¢ | 1 | ||
| Last updated 10.08am 08/05/2024 ? | |||||
| MGT (ASX) Chart |