Post Reply
1-20 of 58
Yup....remember, buy dont need to tick contra, only selling time need.....so they will credit the amount back to your credit limit....
rage11 ( Date: 16-Aug-2009 12:06) Posted:
|
So when I do buy, I do not need to tick on contra? Only when I want to sell off the shares that I bought earlier on then I tick contra and once sold, my limit will be restored. Am i right to say that?
Because what I do now is I buy and sell without ticking the contra, that is why I have to wait till the following day for my limit to restore back.
ronleech ( Date: 15-Aug-2009 10:23) Posted:
| Buy dun need to click contra.....either take tix or contra sell off later...normally they will give you like buy monday and have to settle by next monday.....if |
|
|
|
How to apply IPO shares..is there any additional charges to pay.
rage11 ( Date: 16-Aug-2009 12:06) Posted:
|
So when I do buy, I do not need to tick on contra? Only when I want to sell off the shares that I bought earlier on then I tick contra and once sold, my limit will be restored. Am i right to say that?
Because what I do now is I buy and sell without ticking the contra, that is why I have to wait till the following day for my limit to restore back.
ronleech ( Date: 15-Aug-2009 10:23) Posted:
| Buy dun need to click contra.....either take tix or contra sell off later...normally they will give you like buy monday and have to settle by next monday.....if |
|
|
|
So when I do buy, I do not need to tick on contra? Only when I want to sell off the shares that I bought earlier on then I tick contra and once sold, my limit will be restored. Am i right to say that?
Because what I do now is I buy and sell without ticking the contra, that is why I have to wait till the following day for my limit to restore back.
ronleech ( Date: 15-Aug-2009 10:23) Posted:
| Buy dun need to click contra.....either take tix or contra sell off later...normally they will give you like buy monday and have to settle by next monday.....if |
|
If you like to play contra, why not open a CFD account?
CFD is in effect contra trading with a longer time frame...
It is the best service ever invented for contra players...
The risk level is low that buy and sell on same day ( if the trend is upwards)...what you think?
knightbridge ( Date: 15-Aug-2009 19:55) Posted:
Personally i dun encourge contra playing. in and out pay commission with duration of about 6 days.. Nobody can predict what news will be printed or data will be submitted and when the company will annouce a big contract win unless u are an insider (then again it is illegal). But good economics or bad economics news come and go very fast also..
But if u want to be a contra player, preparation still nid to be made.. No free lunch, if want to make good money hardwork is a must.. The rest will depend on luck....
Get ready a margin account, open afew credit line, open a few brokerage to obtain maximum trading limits..
Incase, u contra a stock when a small bad news sudden hit or correction due to profit taking.. You will have the temporary cash to hold and if u hit the trading limits (you can use the next acc to avg out). Also read up on technical anaylsis, contra player will need to noe all the basic indicators etc overbrought/oversold, moving avg, candlestick, volume indicators... The best trading platform and trading program.... Get a trading journal ready, noted down all your emotion and fear... how u react to big price up and big price down.... (got to understand yourself, how u react when hit with stress) Not everyone can be a day trader.... See if u are suitable for this kind of game... |
|
Personally i dun encourge contra playing. in and out pay commission with duration of about 6 days.. Nobody can predict what news will be printed or data will be submitted and when the company will annouce a big contract win unless u are an insider (then again it is illegal). But good economics or bad economics news come and go very fast also..
But if u want to be a contra player, preparation still nid to be made.. No free lunch, if want to make good money hardwork is a must.. The rest will depend on luck....
Get ready a margin account, open afew credit line, open a few brokerage to obtain maximum trading limits..
Incase, u contra a stock when a small bad news sudden hit or correction due to profit taking.. You will have the temporary cash to hold and if u hit the trading limits (you can use the next acc to avg out). Also read up on technical anaylsis, contra player will need to noe all the basic indicators etc overbrought/oversold, moving avg, candlestick, volume indicators... The best trading platform and trading program.... Get a trading journal ready, noted down all your emotion and fear... how u react to big price up and big price down.... (got to understand yourself, how u react when hit with stress) Not everyone can be a day trader.... See if u are suitable for this kind of game...
Currently i am trading tradional way ..but the profit margin is very small..yesterday i sold sinotel 0.34(30 lot) at 2pm(because of the fearness that i made sell limit) ...but it was went to max 0.4, if i knew contra trding i could make some good money yesterday... i miss the boat and i lost 1.5k yesterday itself...
ronleech ( Date: 15-Aug-2009 17:15) Posted:
Base on your assumption, if your bought $10K of $1 counter, the brokage firm allowed you to hold on to your counter without paying for 6 trading days, including your buying day. If your decided to take whatever profit then CONTRA sell off within that period, if not you will have to pay up.
I am not a pro trader but seems like you have to put in more pratice on your system....dun think too complex....simplify it...what ways you playing always have danger involved too.... |
|
Base on your assumption, if your bought $10K of $1 counter, the brokage firm allowed you to hold on to your counter without paying for 6 trading days, including your buying day. If your decided to take whatever profit then CONTRA sell off within that period, if not you will have to pay up.
I am not a pro trader but seems like you have to put in more pratice on your system....dun think too complex....simplify it...what ways you playing always have danger involved too....
I am very sorry bro..still i am not cleared..never mind..i take my own time to learn it..thanks for your posts...i read an article from net follows...
Contra trading as it is popularly known, is the act of buying and selling something without actually paying for it. Contra trading is apparently unique only to the Singapore and Malaysian stock markets. (Drop me a note if you know of other countries with contra trading)
In Singapore, when you buy a stock, there is no requirement to put up a form of deposit with the brokerage firm. In fact, from the date of the transaction, you are given a grace period of 3 days, known as the contra period, in order to transfer the money to the brokerage firm. It is because of this contra period, that a loophole is formed. It was found that if you sold the stock that you bought before the contra period is up, the brokerage firm would offset the trades, and the net effect was that you will be paid any profits or losses you obtained from that 2 trades.
Assuming you bought $10,000 worth of stocks at $1 on a Monday. On the Wednesday, the price went up to $1.05 and you decide to sell it off. Based on this, you do not have to pay up for the $10,000 because you have already sold the stocks. In fact, the firm would credit to you 5cents of profit per share, all without you putting up a single dollar. Literally making money out of thin air.
The dangers of this is that most investors would not be able to understand the risks involved, and would end up buying more than they can afford. Do note, that most contra traders actually lose money.
ronleech ( Date: 15-Aug-2009 16:51) Posted:
| I told you before, buying no contra, only selling lor...then have contra...if you mean you dun wanna hold those tix and not paying up, then 6 trading days including the day your buy....monday to next monday lor...understand? |
|
I told you before, buying no contra, only selling lor...then have contra...if you mean you dun wanna hold those tix and not paying up, then 6 trading days including the day your buy....monday to next monday lor...understand?
What i am asking is if i am buying shares with contra how long i can hold it or when i must sell it......
ronleech ( Date: 15-Aug-2009 15:33) Posted:
| In fact they give you 6 trading day, including the day you buy |
|
In fact they give you 6 trading day, including the day you buy
you mean they give 7 days time to settle the matter...
ronleech ( Date: 15-Aug-2009 10:25) Posted:
| sorry, if you miss to sell or settle by monday, they will force sell your holding.... |
|
sorry, if you miss to sell or settle by monday, they will force sell your holding....
Buy dun need to click contra.....either take tix or contra sell off later...normally they will give you like buy monday and have to settle by next monday.....if
If i do contra buy first sell later can be last T+3 right....
ronleech ( Date: 15-Aug-2009 10:10) Posted:
| I think there is a different in borrowing and contra selling. Dun think normal ppl like us can borrow...but the 1st rule...HAVE TO BUY BACK ON THE SAME DAY...:P |
|
I think there is a different in borrowing and contra selling. Dun think normal ppl like us can borrow...but the 1st rule...HAVE TO BUY BACK ON THE SAME DAY...:P
contra selling last T+3 days right..but you mention that selling must be carry out on the same day...clarify me
Alligator ( Date: 15-Aug-2009 08:30) Posted:
(How the short selling profits or counted? Example i sell a share at
$1.0 and later i will buy back at $1.2, so the 0.2 is my profit..is it
correct?)
perhaps you might have misunderstood some terms.
PLEASE DO NOT SHORT SELL AT ALL until u understand the true meaning.
first, you MUST have share in CDP account before you can SELL share!. or you have Borrow ( i leave details out). If you do not have Shares, and do not borrow, yet you SELL, you are taking a big risk.,
next, if you do this SELL today, and you DO NOT COVER or BUY back by end of today, then you are NAKED SHORTing, and if you do so, you will be covered by CDP BUY-IN process at a very high cost to you., I copy here for you to read:
In addition to the current processing fee for buying-in of $30 per
contract, there will be a penalty of 5% of the value of the failed
trade subject to a minimum of $1,000. This penalty will take effect for
trades executed from Thursday 25 September 2008 onwards. The fee will
be reviewed from time to time to assess its effectiveness.
|
|
Good Post....
ronleech ( Date: 15-Aug-2009 08:38) Posted:
Short selling if you are predicting the mkt is going down.
Normal case you buy then sell, short selling is the reverse engineering of the normal process; short sell at high price then buy back at low price, the difference s your profit....
Example :
Normal case :Buy low, sell high...profit
Short case : Sell high, buy low....profit
Very risking unless you got time to sit right in front of your computer during trading hour.....understand the logic and is very simple |
|
I should buy 0.8 only profit 0.2...now i understand....
shweli ( Date: 15-Aug-2009 08:37) Posted:
You sell 1.0, so you have 1.0. When you buy back 1.2, this 0.2 you get from where? From your pocket! you lost.
ravikp ( Date: 15-Aug-2009 08:33) Posted:
|
|
|
