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Short by Accident
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Bon3260
Supreme |
13-Feb-2010 12:53
Yells: "Ooo Ooo Aaa Aaa!" |
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If dat Counter "Halt" half way, die lor...
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risktaker
Supreme |
13-Feb-2010 11:44
Yells: "Sometimes you think you know, but in fact you dont" |
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intra day short is ok la as long as u cover it back within the same day :P
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junction
Senior |
13-Feb-2010 11:37
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The rules of trading are stacked against the shortists. Naked short is penalised heavily. Burrowed scripts have to pay interest and there are other terms (read the contract). Having said that there is the CFD, which is LIMITED to some stocks and is time bound, not very liquid - also a negative factor. Only experienced traders should short. For the rest, buy and hold is still the best option. Happy New Year!
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OneSharer
Veteran |
13-Feb-2010 09:07
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hope this helps: "buying-in" is not the same as buy. after selling shares that you do not have, you can queue and buy back on the same day. For "buying-in", you have no control over the price; it is done for you due to your failure to deliver the shares (i.e. not buying back the same day).
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susan66
Master |
12-Feb-2010 23:14
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I think never try naked short, it's too risky. If the counter suddenly halt on that day, you are not able to buy back, must let SGX buy in against you, can't control the price. Better use CFD or SBL A/C safer. I prefer CFD Accounts as it is cheaper. 
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Joe2020
Veteran |
12-Feb-2010 20:56
Yells: "I am the Oracle sent forth unto you that ye shall be warned" |
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Hello all, Thank you for all the posting. But I am still confuse why SGX website (as posted by one of the forumer here) contradicts the buying on the same day theory. Is the "must buy on the same day rule" written black n white? 
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ronleech
Master |
12-Feb-2010 07:52
Yells: "Believe in yourself. Ride with the waves......" |
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BTW...if i am not worng, borrow got to pay interest....
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risktaker
Supreme |
12-Feb-2010 06:03
Yells: "Sometimes you think you know, but in fact you dont" |
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I mean the penalty is only fees + the difference if u loose :P -- No Heavy Penalty liao la --
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risktaker
Supreme |
12-Feb-2010 06:01
Yells: "Sometimes you think you know, but in fact you dont" |
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I think recently they remove the heavy penalty for over night short. Intra Day short is ok. Over night Short ur broker will buy in for you in the morning if not u kenna penalty | ||||
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shentao
Member |
12-Feb-2010 00:10
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doesn't seem fair..we are all forced to get a CFD account then. Shorting due to the current penalty clause is only logical that a human error happened. How can they fine us for making such mistakes? |
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WLBO_BB
Master |
11-Feb-2010 23:42
Yells: "Warren Look Before Others _ Buffett Best " |
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very correct, good student, better dun try, u'll get hook on it... i ever won alot but also lost alot.... remember not to naked short thats it, open an SBL or CFD acct first... 1. There is no maximum period which you can borrow the securities. However, if there’s a recall, you will have to return the securities by T+4 of notice. 2. Once you have borrowed the securities, the fastest you can return the securities is 3 days later.
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StarLine
Senior |
11-Feb-2010 23:36
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Oops... Let me rephase them. Short is that share borrowed from a third party (usually a broker) with the intention of buying it back at a later date to return to the lender. Naked Short is that sell of shares that you do not have at all. |
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street81
Senior |
11-Feb-2010 23:30
Yells: "Learning to love the streets" |
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this is not for me....
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WLBO_BB
Master |
11-Feb-2010 23:29
Yells: "Warren Look Before Others _ Buffett Best " |
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fast learner..... :)
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street81
Senior |
11-Feb-2010 23:28
Yells: "Learning to love the streets" |
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Say u sell @ $1, then u buy back lower price than $1 then can make $ izzit?
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StarLine
Senior |
11-Feb-2010 23:22
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Correct me if I am wrong,
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ronleech
Master |
11-Feb-2010 22:36
Yells: "Believe in yourself. Ride with the waves......" |
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Nothing illegal if you cover back your open position on the same day. But if you dont, you are being illegal lor..... Sell 1st back later is totally legal....
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smartrader
Elite |
11-Feb-2010 20:28
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iocbc internet trading will prompt you to double check and warn you about short selling... | ||||
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street81
Senior |
11-Feb-2010 20:27
Yells: "Learning to love the streets" |
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what is this SHORT and NAKED SHORT thing...till now also dun understand | ||||
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OneSharer
Veteran |
11-Feb-2010 20:19
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No joke...kneeled & prayed. | ||||
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