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Order Rejected
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TalkMkt
Member |
13-Sep-2009 13:04
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They normally use your occupation, yearly income and net worth to set your limit for poems. If you need more limit, u need to contact your remiser and ask for a temporary or permanent increase in limit. If you trade with a remiser, its easier to get a higher limit than the house. Coz remisers are the first line of protection for the broking house. They are liable for credit risks if clients default. If you have a margin account, custodian account or cash management account, its easier to get higher limit. Coz u have collateral with the broking house. For UOB Kayhian, the broking house can verify your bank account balance with UOB Bank. Hence they know you have money and they afford to increase limit to take the credit risk. Phillip Securities is not a bank banked broking house so its different. For more queries regarding trading limit for poems online, u can email me at tplim1975@gmail.com. website: www.markettalk.org |
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Sporeguy
Elite |
12-Sep-2009 17:38
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I think poems set yr selling limit around 40% to 50% of the value of the shares that you hold at CDP at the time of registration at poems. | ||
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ronleech
Master |
12-Sep-2009 16:20
Yells: "Believe in yourself. Ride with the waves......" |
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yuo..happened to my friend too....bought Genting at 0.47 43lots and when wanna sell @ 0.9 it rejected because his buying/selling limit is only 25K...was cursing and swearing... 1 thing you can do is to ask your broker to up your limit...but seems like peoms very troublesome....have to submit alotta documentation.....unlike my Kayhian....1 phone call settle the issue. |
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AK_Francis
Supreme |
12-Sep-2009 01:43
Yells: "Happy go lucky, cheers." |
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Ha ha, sorry, not at desk in d pm. Cruise to no where with my bone shacker, with newly accq cl 3 driving license, after 18mths suspension. Normally, d broking hse will set your trading limits, buy or sell differently, basing on your trading history with d said broking hse. AK hv 3 online broking hse, 2 of them flag my trading limits, both Sell n Buy order, when I exe a transection, either buy or sell. D other one, need to speak to TR one, lechey ah, but roughly know d limit liao. Generally, sell limit is higher than buy limit set. Simply, Sell short, u ought to face SGX, whereas, buy giving u less bullet to avoid massive Contra, n later no $ to cover losses. Henceforth, be vigilant in trading loh. Cheers. U r big timer, if d broking hse set no limit on both d Sell n Buy limits.
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baby88
Member |
11-Sep-2009 14:19
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Hi Alligator, thanks for your reply. Since I have enough stock in my CDP account and want to sell it, that should not be an issue of exceeding the limit. The main idea is that they (SGX) dont want short seling, I know. For buy order, the limit is logical. But for sell order, I dont think so. Regards |
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Alligator
Veteran |
11-Sep-2009 12:53
Yells: "learning from past " |
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well, i think this issues appeared to be hitting the buy limit that was set by you and your broker when u started trading. as such this is a good lesson for you. if you believe you will be trading with higher values in near future, it is then wise to discuss with your broker to increase the buy limit and sell limit so that when you need it you will be ok.
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baby88
Member |
11-Sep-2009 12:44
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Dear ALL, I sent a sell order through my POEMS account this morning and was rejected (3 times). I called my remisier and he said he will increase my limit to another 30K and asked me to key-in after 15 mins. This caused me to miss a much better price. In fact, I bought the stock on 2nd Sept and have collected the scrip on the 7th Sept (in my CDP). Did any of you have this bad experience before? Please share. Regards. | ||
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