i had 20000 rand this morning and went long on drd at 465. I just logged on to my account now and all my positions are closed plus I have a negative balence of R9000. So what happens now? Do I owe standard bank??? i cant belive this! T_T hehe
Tom - Are you punch drunk ? Just the fact that you don't realise the risk of trading SSF's is beyond me. Don't you even know what a margin call is? Then you announce the bottom for a worn out whore share like MRF and you go long on a day like today. If your luck and money doesn't run out today, it will very soon. "I can't loose again" - What a crock of *****. This is typical rooky behaviour. Substitute one loss with more risk to recover all losses and make some profit. Recipe for a disaster. Been there done that, got the T-Shirt a decade ago.
Simon, with regards to the stoploss, that is exactly the point I am trying to make. The stoploss was not cancelled on exiting the position. I sold out at 565c, at a profit. Two days later, the price fell below my stoploss (which was at 470c if memory serves). I received an e-mail stating that the stoploss failed. Reason for failure was that I had no shares to sell!!