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What happen if you cannot pay your contra loss? Post Reply Rate topic
taybc1071 Senior	07-Aug-2007 14:08        taybc1071 About Contact  Quote this Post!
x 0   x 0  Alert Admin	hi bentan79, sorry to learn that this may be your last posting. Move forward, just put all these unpleasant events behind. Learned from these mistakes you made - 1) Overcome by greed 2) contra plays 3)not within your means. Good luck!
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vlazyguy Member	07-Aug-2007 00:02        vlazyguy About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi Bentan79, I am sure you gain much more than what you lost. Wish you all the best in your future endeavors.
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bentan79 Member	06-Aug-2007 22:46        bentan79 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dear all, Sorry I did not come to this forum for the past few days. I am working out with my parents how I could pay the loss. Finally the money is settled (less 15Lots starcruise which DBS said I shorted , and I did by mistake. Hope the force buyback price is not high......). I thank everyone for their support and reply and of course the recommended books I can read. I will pick them up for reading soon. Today , I paid every amount I have in my loss account. Now I had proceed to close 4 out of the 5 accounts I have. Sometime I wonder, should broker firm have something like Credit card company, an agency to monitor one's risk profile like mine. If I can't pay up and make a bankrupt, they are in the lossing end Almost 30k is lost overnight by my mistake and my parents have to loan them from relative and friends. I have a friend who always make money in stock market as he paid up all in cash and wait for them to grow. Even when the market correction is now, he is still having "paper profit". He told he that he is using this chace to buy in more of the stock he want. Initally i was learning from him but greed overcome me and I played contra . He is the type of investor who have the disclipline to do things. In a mere 7 months, I learnt the following: (1) IPO and private placement  (Note: most of shares are sold through private placement. They may be the one jacking up IPO price) (2)Shorting of share (selling them at higher price and buying back at lower price)....tried it once and was in a situation of FOrce buy back by SGX 3 days later (3)SGX "special" procurment market - market where force buy in of shares is done (1045hrs to 1115hrs share price as reference or 2 bid above last closing price) (4)How broker can help you in force buy in (broker help me sell my share which bought 1 day later in force sell market to minimise my loss, that of course depend on how good your relationship with your broker (5)Covering loss in contra - will never win back what you had lost. It will become a habit (6)How emotion come into play during a day's trading eg BB buy 1000 Lots at 1000hrs @0.15 then push the price down to 0.120 then push it up again to beyong 0.15 to earn return (I thought i was rite but this mtd also make me loss money in JADE) All the best to every forum person here. This may be my last posting as a member for this year. Good Luck!
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KiLrOy Master	02-Aug-2007 13:55        KiLrOy About Contact  Quote this Post!   Yells: "I buy only what I can see."
x 0   x 0  Alert Admin	Elf, In FX, I was trained with 4 types of stop losses.  For the recent AcendasIndiaReIT, I chose equity stop for this counter since chart stop is not applicable - just IPOed.  Margin is out since I use cash.  Volatility Stop can be considered but without a bollinger band to show me to top and bottom of the volatility with std dev of 2, its hard for me to make an educated guess.  So there you go and most of my stocks are on Equity Stop since I derived them from a single sum I allocated for the stock portfolio. Equity Stop Chart Stop Volatility Stop Margin Stop
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elfinchilde Elite	02-Aug-2007 13:47        elfinchilde About Contact  Quote this Post!
x 0   x 0  Alert Admin	kilroy, how abt a 10-15% loss (which is the std stop loss for techies)? markets very soft. >~< trust you had a good night last night with the GBP/USD pair? hehe.
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Centaur Veteran	02-Aug-2007 13:41        Centaur About Contact  Quote this Post!
x 0   x 0  Alert Admin	thats true Kilroy, thats why capital protection is very important. kinda like the no 1 rule for investors
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KiLrOy Master	02-Aug-2007 13:38        KiLrOy About Contact  Quote this Post!   Yells: "I buy only what I can see."
x 0   x 0  Alert Admin	Amount of Equity Lost Amount of Return Necessary to Restore to Original Equity Value         25%       33% 50% 100% 75% 400% 90% 1000% This table shows just how difficult it is to recover from a debilitating loss. A trader would have to earn 100% on his or her capital - a feat accomplished by less than 1% of traders worldwide - just to break even on an account with a 50% loss. At 75% drawdown, the trader must quadruple his or her account just to bring it back to its original equity - truly a Herculean task!
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ruanlai Master	02-Aug-2007 13:13        ruanlai About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Now Cash is King..... Do not contra nor use margin........ Got cash, hold it up till market stablise then proceed with margin to roll up...... No cash, margin also die........market go down fast......margin call will follow suit.......
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cashiertan Elite	02-Aug-2007 13:11        cashiertan About Contact  Quote this Post!
x 0   x 0  Alert Admin	anyway it is those contra player who push the px so low as they force sell at any px....
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cashiertan Elite	02-Aug-2007 13:07        cashiertan About Contact  Quote this Post!
x 0   x 0  Alert Admin	all i can say is if u lose money from stocks. better win it back at stocks. pick up urself from where u fall, it dun work for gambling thou...   still can trade stocks lah but this time either u trade with cash or margin. never contra..
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skeleton Member	02-Aug-2007 12:43        skeleton About Contact  Quote this Post!
x 0   x 0  Alert Admin	Every individual looks at different matters from different angles and perceptions. There are genuine kind souls within the same game/market who sympathises with the losers but there are bound to be some, who some how managed to keep their heads above the water during a flood, trying to gain attention by trying to show their 'superiorities' by boasting around......well......it's true that when there are winners, there are bound to be losers.....to me, the REAL losers are the whos whom can win for once and boast around but loses his bloody basic self respect. Face is what others give, respect is what you throw away. Good Luck all.
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Centaur Veteran	02-Aug-2007 12:06        Centaur About Contact  Quote this Post!
x 0   x 0  Alert Admin	why make the market sound so cruel and scary?? I'll rather treat it as a game that i can afford to play within my means..
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spurs88 Senior	02-Aug-2007 12:00        spurs88 About Contact  Quote this Post!
x 0   x 1  Alert Admin	Right synnexo, there's no kind soul in this game. Learn the hard way if you decide to play. Everyone is out to win.
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timewatch Senior	02-Aug-2007 09:26        timewatch About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thankyou Cleverzul.
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synnexo Veteran	02-Aug-2007 09:22        synnexo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just giving some encouragement & support but others just make unconstructive comments. In any game, there sure to be a winner & a loser. If u choose to play then u have to accept the consequences. So, why talk about kind soul in this game?
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cleverZul Member	02-Aug-2007 09:16        cleverZul About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dear timewatch, its like this: Your max buying limit per broker could be 20k (some evern more). You bought a stock for instance that cost 11cents. You will then be able to buy 180000 shares. You have to pay the broker 20k in T+3 but what if within this period the stock crashes to 8cents? It means your shares are now worth $14400. Thats a loss of $5600! You then have 2 options either pay 20k or sell the shares and pay the loss of $5600. (Buy you have no money for either thus you are in debt.) Imagine if you open more than one broker and bought the same shares - your loss would be quantifold. P/s: of course in a bull market, your profit is quantifold as well. Regards.
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timewatch Senior	02-Aug-2007 08:57        timewatch About Contact  Quote this Post!
x 0   x 0  Alert Admin	Confused lah, how do people like Ben get into a situation like this. Contra means what??1. Is it buy and sell on the same Day OR Buy today and sell within the next 3 days. HOpe somebody has the patience to answer to my questions. As for Ben, friend i do fell sad that you have to go through this, thank God that your parents are helping you, Thank them. We all should respect our parents,they are the only people in this world who will genuinely love us. Take care Ben.
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spurs88 Senior	02-Aug-2007 08:37        spurs88 About Contact  Quote this Post!
x 0   x 1  Alert Admin	There's no kind hearted soul in the stock market. Did your broker allow you to defer your payment when you lose money? Or did the guy whom you bought the counter at at a high price agreed to cancel the trade? No right. reason is everyone is trying to make money from his/her next person. It is like a passing game to see who will be left holding the baby at the end.
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hohokit Veteran	02-Aug-2007 07:52        hohokit About Contact  Quote this Post!
x 0   x 0  Alert Admin	You see,being kind hearted and sharing and you have remark that you have a reason behind it.Such a sad world.
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spurs88 Senior	01-Aug-2007 23:38        spurs88 About Contact  Quote this Post!
x 0   x 1  Alert Admin	Ben, you had som many people so eager to console and give you advice. I wondered if these same people also happened to have made money out of your losses? Just remember this : The stock market is merciless and cruel. Everyone is going in to make money. Otherwise why bother to trade. The money you lost is actually the school fees you had to pay to learn to make money in the stock market (as I was told when I first started trading).
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