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Naked Short selling question ...
rage11
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14-Sep-2009 10:08     
 
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Oh ok, understood-ed.

Thanks for the enlightenment.



keepnosecrets      ( Date: 14-Sep-2009 09:59) Posted:

If you sell first, you cannot click "contra"  if you do not have an open buy position.  Later on when you buy back, some firms may have the contra button.  But even if you did not click contra, it is automatically done by the brokers.  As for the limits counting, you are considered squared off.  It should be the same as buy first sell later, if your brokers has been restoring your limits in contra cases.

rage11      ( Date: 14-Sep-2009 09:48) Posted:

But when i do normal contra trading, when I sell I check on the contra button and when sold my limit is restored back.

So I was wondering if do short, does it also apply the same way?
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keepnosecrets
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14-Sep-2009 09:59     
 
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 Alert Admin 		If you sell first, you cannot click "contra"  if you do not have an open buy position.  Later on when you buy back, some firms may have the contra button.  But even if you did not click contra, it is automatically done by the brokers.  As for the limits counting, you are considered squared off.  It should be the same as buy first sell later, if your brokers has been restoring your limits in contra cases.

rage11      ( Date: 14-Sep-2009 09:48) Posted:

But when i do normal contra trading, when I sell I check on the contra button and when sold my limit is restored back.

So I was wondering if do short, does it also apply the same way?



keepnosecrets      ( Date: 14-Sep-2009 09:44) Posted:

A very important thing to note when naked short is the buy back limit.  You must first know the limit balance you have in your trading acct.  Otherwise, you might be caught naked short.  Most brokerages won't restore your trading limits immediately even though you know you have opposite positions to square off (contraed). In most cases you will have to wait for the T+4 days to have your limits restored.  But your remisier could provide you additional trading limits if you make further arrangement by ringing him up.

 
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rage11
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14-Sep-2009 09:48     
 
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But when i do normal contra trading, when I sell I check on the contra button and when sold my limit is restored back.

So I was wondering if do short, does it also apply the same way?



keepnosecrets      ( Date: 14-Sep-2009 09:44) Posted:

A very important thing to note when naked short is the buy back limit.  You must first know the limit balance you have in your trading acct.  Otherwise, you might be caught naked short.  Most brokerages won't restore your trading limits immediately even though you know you have opposite positions to square off (contraed). In most cases you will have to wait for the T+4 days to have your limits restored.  But your remisier could provide you additional trading limits if you make further arrangement by ringing him up.

 



rage11      ( Date: 14-Sep-2009 09:35) Posted:

One question: When contra buy, i sell and i will check the contra button so that my limit will be restored after sell.

But if i want to intra-day naked short, i need to sell 1st then buy back on the same day ma, so do i need to check the contra button during sell time or buy time?

Please kindly advise.
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keepnosecrets
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14-Sep-2009 09:44     
 
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A very important thing to note when naked short is the buy back limit.  You must first know the limit balance you have in your trading acct.  Otherwise, you might be caught naked short.  Most brokerages won't restore your trading limits immediately even though you know you have opposite positions to square off (contraed). In most cases you will have to wait for the T+4 days to have your limits restored.  But your remisier could provide you additional trading limits if you make further arrangement by ringing him up.

 



rage11      ( Date: 14-Sep-2009 09:35) Posted:

One question: When contra buy, i sell and i will check the contra button so that my limit will be restored after sell.

But if i want to intra-day naked short, i need to sell 1st then buy back on the same day ma, so do i need to check the contra button during sell time or buy time?

Please kindly advise.



keepnosecrets      ( Date: 03-Sep-2009 13:09) Posted:

When you naked short a counter in the morning and buy back same day, either win or lose, you won't be fined.  But if overnight, then SGX will impose $1000 fine on you because they know you are short and will buy back for you.
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rage11
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14-Sep-2009 09:35     
 
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One question: When contra buy, i sell and i will check the contra button so that my limit will be restored after sell.

But if i want to intra-day naked short, i need to sell 1st then buy back on the same day ma, so do i need to check the contra button during sell time or buy time?

Please kindly advise.



keepnosecrets      ( Date: 03-Sep-2009 13:09) Posted:

When you naked short a counter in the morning and buy back same day, either win or lose, you won't be fined.  But if overnight, then SGX will impose $1000 fine on you because they know you are short and will buy back for you.
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tresxd
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03-Sep-2009 13:20     
 
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 Alert Admin 		ohh, so its okay :D


keepnosecrets      ( Date: 03-Sep-2009 13:09) Posted:

When you naked short a counter in the morning and buy back same day, either win or lose, you won't be fined.  But if overnight, then SGX will impose $1000 fine on you because they know you are short and will buy back for you.
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keepnosecrets
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03-Sep-2009 13:09     
 
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 Alert Admin 		When you naked short a counter in the morning and buy back same day, either win or lose, you won't be fined.  But if overnight, then SGX will impose $1000 fine on you because they know you are short and will buy back for you.
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iPunter
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03-Sep-2009 12:27     
 
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Playing the stock market is like doing the 'Obstacle Course'...

Some stations can be very slippery and difficult to overcome...  hehehe... Smiley
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AK_Francis
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03-Sep-2009 11:39     
 
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Comrade, agreed both stretegies. However, the path for Con n B is not absolutely smooth yet, as the path is still rocky n with slopes along d way. As for B for Long, there r numerous good highways for choosing, moreover, there r emergency vehicle support along d way as well.

Again both "Y" apply liao. Cheers. 



Hulumas      ( Date: 03-Sep-2009 11:29) Posted:

Contra buy trading or BUY and HOLD strategy will be suggested throughout 2009 and 2010, as it is more feasible and profitable I am sure. CAVEAT EMPTOR.

erictkw      ( Date: 02-Sep-2009 22:59) Posted:



Can explain more detail on CFD and Put Warrant?


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Hulumas
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03-Sep-2009 11:29     
 
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 Alert Admin 		Contra buy trading or BUY and HOLD strategy will be suggested throughout 2009 and 2010, as it is more feasible and profitable I am sure. CAVEAT EMPTOR.

erictkw      ( Date: 02-Sep-2009 22:59) Posted:



Can explain more detail on CFD and Put Warrant?

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erictkw
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02-Sep-2009 22:59     
 
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Can explain more detail on CFD and Put Warrant?
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DnApeh
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02-Sep-2009 22:49     
 
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Sekali you naked short and the counter kenna halt, (or the market suspend trading because crash! example only lah) then you will kenna fine.

If want to shart, pls get CFD account lah. Or buy put warrants.



tresxd      ( Date: 02-Sep-2009 22:29) Posted:

btw, is this legal or illegal, during correction like these few days its better to use this method right?


smartrader      ( Date: 02-Sep-2009 20:45) Posted:

don't do this too often, not worth the stress .. Unless you have some holding, you can play play during market correction by selling at opening, then bid your time to have highest spread...
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tresxd
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02-Sep-2009 22:29     
 
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 Alert Admin 		btw, is this legal or illegal, during correction like these few days its better to use this method right?


smartrader      ( Date: 02-Sep-2009 20:45) Posted:

don't do this too often, not worth the stress .. Unless you have some holding, you can play play during market correction by selling at opening, then bid your time to have highest spread...
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smartrader
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02-Sep-2009 20:45     
 
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 Alert Admin 		don't do this too often, not worth the stress .. Unless you have some holding, you can play play during market correction by selling at opening, then bid your time to have highest spread...
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tresxd
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02-Sep-2009 19:28     
 
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 Alert Admin 		oh okay, thanks. i covered it today.

risktaker      ( Date: 02-Sep-2009 19:17) Posted:



Naked short is ok. Provided you cover it by the end of the day. You short today and cover it today. But PT/BB are catching shorters. Beware.... thats what happen to genting today. Naked short kenna caught.  
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risktaker
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02-Sep-2009 19:17     
 
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Naked short is ok. Provided you cover it by the end of the day. You short today and cover it today. But PT/BB are catching shorters. Beware.... thats what happen to genting today. Naked short kenna caught.  
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tresxd
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02-Sep-2009 19:11     
 
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 Alert Admin 		SERIOUS?! FINE?!
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des_khor
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02-Sep-2009 18:34     
 
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 Alert Admin 		SGX knows when is your transcation time.

alanghc2020      ( Date: 02-Sep-2009 18:31) Posted:

Huh, yameh ?



des_khor      ( Date: 02-Sep-2009 18:29) Posted:

$1000 fine.
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alanghc2020
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02-Sep-2009 18:31     
 
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Huh, yameh ?



des_khor      ( Date: 02-Sep-2009 18:29) Posted:

$1000 fine.
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alanghc2020
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02-Sep-2009 18:30     
 
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 Alert Admin 		Yes, must at the same day, according to my remiser !!

tresxd      ( Date: 02-Sep-2009 18:14) Posted:



erm, if i sell without having the shares on hand, 

i'll just have to get it back at the end of the day 

and nth will happen right?
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