Shorting Stock - Questions\Answers - I asked OX "how do I know if the ticker\company has shorts to sell"? Their answer: "Go to the Trade tab and click on the Stock hyperlink. On the bottom right-hand side of the page there is a link for "Stocks Available to Short". This process sux and they didn't answer my other questions. The new window you could keep open though and CTRL+F the ticker.
Wow Thurs night was a fun night. VLTC had some great price action. Learned so much it's crazy! Most of my lessons came with the Level2 system. This is a must have and allowed me to understand what was going on. I was able to play around, make some silly orders and sell at the right time. I made 4 buys tonight as the stock was moving at a steady pace and wanted to get my experience up (good or bad). Hopefully Ill be in the green! $$$ Post more tomorraz.
Still waiting for my trades to come through....... I've been setting up alerts as I have too many trades to watch. Unfortunately nothing has been alerting me. Turns out I've been getting emails. Yeah, that helps!! Not.
All my trades are in but its not good financially. The reason I lost a bit of cash is due to multiple trades and most not doing anything = Broker fee's. I buy 200 shares and I need to cover the expenses plus make a profit. I knew the fee's would eat me though but I wanted to test the 2nd Level price action. Had I been more experienced I think I would have banked like many did. The price action was insane! Overall a good night, learned tons and feel more comfortable with the software.
OX does do 2nd level. There are 2 versions as well as Options. They're wrong. Open "Streaming XTEND". Found bottom of main page or under top menu "TOOLBOX". Once open you should have a window called Trade Ticket. Change "Put" to "Stocks". Then expand the windw - to do that press the blue triangle bottom right of window. Hope that helps.
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thats what it says when i open streaming xtend^^
i called the australian OX and they wont help say i cant get it. do you call american OX?
Lost a bit on the market tonight however due to a silly situation as I misread the software. Decided to short some stock (first time ever!) as it went to its lows only to bounce up. I thought I had Covered quickly but it turned out I bought more stock! Yeah, I'm an idiot. By the time I realised what it did the stock had climbed up again. On a pos: I learned a ton tonight. Also found the '2nd Level' screen which helped me to reduce what could have been bad losses. More info to come...
Still can't upload my trade last night. Only lost a few bucks. Tim's watchlist can be good but the prices too low. OX won't let me short under $5. I'm finding I'm watching more and more of my own picks. SYRX was a Tim pick but I didn't know it as I picked it myself from YahooFinance - Stock died. MRGE was at a new high so watched it. It went down but shorted at the wrong time. Watching 2ndLevel it was being manipulated to go up so pretty scary. Learned a lot from it. About it really.
Broken Link.
Try this link http://ed96c3e731351d7f1e7e-a608a20fa5500b90f0953467b5aedce0.r24.cf1.rackcdn.com/Dip%20And%20Rip%2008.26.2014.MP4
Hi Lincoln, the links arn't working for me. Youtube doesn't seem to have any good ones. Cheers.
Great video
Started using OptionsXpress "Virtual Trade". Its a nice little tool to use during trading hours. Since I don't have the funds to short it allows me to do so. *dance* ..... As for trading Easter is over and trading is back to norm. Got the week off so i'll use the time to trade and study.
No trading for Fri and Mon it seems for USD. Not surprised but I'm like a shark and want to sink my teeth into some stocks. NOM NOM!!
Made my first bid tonight with OX. See my Trades window if you care to laugh at me. It was a loss but a small one. I knew there was a good chance for loss but didn't care. Now I understand how things work and flow with OX and can safely make some judgement calls. It's weird knowing I've bought and sold stock now. It will be a good joke with friends. :)
Hey Presto, the orders went through pretty quickly and will do so if you trade correctly. Look at volume. If its trading 20k then you're pretty safe to trade 150 shares or whatever the number. If you want to trade 20k shares and the volume is 20k then you wouldnt do it. Does that make sense?
perfect sense! im always impressed with nathans twitter in the opening hours of trading he tweeted about DYAX he predicted it going to $27 and it did exactly that right from 24 something. but yea i've got to find my own niche rather than relying on alerts and stuff like mav says
You want to be self-reliant. That's my goal anyway. I look at Tim's watchlist, go over it, make personal notes then I make my own Watchlist. From that I chose what I think is best for the night. Next day I will go over the nightly charts for each ticker to see what happened and to see if my notes reflected what I predicted. May not be perfect but you will learn a lot.
The only reason I follow alerts is to see what the pro's are buying. Then I follow up on what they did and why. Using alerts might make you easy money but for me it's pointless if Im flying blind. My watchlists help me fly (hopefully without hitting a tree!).
@mavrick41 Hi Mav. Got a question. I went to short a stock at around $7 per share. OptionsX told me I require $30k in my account. Thats just a requirement right? Encase it go's the other way? Thought I'd get your confirmation cause you da man and all. :)
as far as im aware its 2k min also dont put in market orders put in limit orders as it jacks up the margin requirment.what stock you shorting?
Sorry for late reply - Went to bed. Jeez you're hardcore trader! Ha. No I don't use Market only Limit. Ticker I don't remember but price was $7.6. Attempted to short 100 shares and said I require $31000 in the bank. I'll add more funds later. Just curious about the 3k.
edit: 31k
Talking to mate at work he said the 31k is just a margin call. In other words a backup for OX encase I blow my short and I owe them da monies. Thought so. Always good to double check.
More trading Mon night. Had my own Watchlist again. VBLT was on a downtrend after a high but not enough funds to short. Down it went!! Unfortunately I don't have enough funds in my account so couldn't short. Missed buying CNIT which was my pick of the night (yearly high). Just didn't watch it - doh! Great buy and good short. Kicking myself on that one. CNET was a fav for Tim students but I thought it sucked (and was right) as it slowly died. Maybe things will go up but I'm off to bed early. No point going on. Overall learned a heap tonight so I'll take that as a good thing.
I attempted to short stock at $5 last night with the price action under it. The sotware wouldn't allow me to do so. If price action was above $5?? Not sure if it would have worked.... yet.
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