Mobile trading experiences and the endogenous trading signal system

An important topic of financial and investment service provider is how to offer clients more attractive services to increase their psychological switching costs. Mobile trading services bring investors freedom from site restrictions, which may have impact on their trading behaviors and judgment patterns. This study employs expert knowledge analysis to explore whether there is any difference between investors with experience using MTS (mobile trading systems) (Type I) and investors without such experience (Type II) in terms of individual trading signal systems when buying/selling stocks. The research findings suggest that the two types of investors differ significantly in trading signal judgment patterns. Type I investors attach greater importance to information integration and performance of individual stocks relative to the general market; whereas, Type II investors are in favor of analysis of insider share holdings and the general performance of the industry for the composition method of decision-making. With regards to factorial relationships that affect the overall decision-making judgment of the two types of investors, the trading judgments of Type I investors are centered on the cross-analysis of information with share hold changes as the key factor of investment signals. The trading judgments of Type II investors are mainly centered on the cross-analysis of share ownership changes, taking advantage of share hold changes as the overall judgment basis, which is a rather simple method of forming a trading signal judgment system. Financial and investment service providers may use the findings of this study to adjust the content of mobile trading programs in order to create better benefits.