Anyone!

Last post 09-06-2008 1:22 AM by Dr Zira. 3 replies.
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  • 09-05-2008 8:39 PM

    Anyone!

     I have tried and tried to short sell to no avail. It keeps saying long position. Yes because so far all I know is to buy and sell. I click on short and it says long no matter what I do. So what do you put on everything please. Ok your ticker symol, the amount of shares to buy, I don't know about putting anything in the money box yet so I leave this alone till I learn shorting. Unless I should learn this first. I go down it says buy short ect I click short I cannot in long position. How do you buy without going long? Am I suppose to put something in the money box? Help I am losing money here. Thanx

  • 09-05-2008 9:39 PM In reply to

    Re: Anyone!

    I'm not sure I understand what the problem is. I just press the short button and after that I enter in the number of shares I want to buy.

  • 09-05-2008 10:33 PM In reply to

    Re: Anyone!

    "Short sell"?

    Okay ... I'll try to explain... You want to make a "short" transaction....

    Select "Trade", type in the symbol of the stock that you want to short ... go down to where it says "buy" and select "short", then go up to quantity and put in the amount you want to short.  This amount is limited by the rules to what you could buy at the current price.  If you select a LIMIT higher than the current price, the amount you can actually short is going to be less.  Remember that you will need to "cover" whatever you short.  Nice thing about the game is that so far I have never seen a time limit on it.  After you get all the blanks filled in to your satisfaction, click on "preview order", check to make sure that everything is all right, then click on "place order"...

    Fine so far.

    So, what can go wrong?  The most common problem is that you already own that stock.  You cannot short stock if you  already have in your portfolio.  You have to sell the stock in your portfolio first, then you can short it.

    Another problem is that you HAVE to have enough Buying Power to purchase the stock at whatever price you put in, whether you set it or did a LIMIT ... if you don't, the system rejects the order.

    After you place a short order, then you need to think about covering it.  Remember that if the stock goes up, you may have to cover at the higher price ... with a bit of luck, your stock will go down and when you cover it, you will make a profit.

    For me, I hate shorting.  Why?  I think that it is mostly the way my portfolio looks.  It takes away from my buying power until it is covered.  And I hate it. 

    GOOD LUCK!

     

  • 09-06-2008 1:22 AM In reply to

    Re: Anyone!

    tonig:
    I have tried and tried to short sell to no avail. It keeps saying long position

    It looks to me like you already own shares of the stock you are trying to short. When you short sell, you are selling someone elses shares. If you already own them, you can sell your own shares.
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