@MateoMontague Can you explain the shorting of stock and the maintenance fees and what they mean on shorting a stock Please. I am kinda confused if you pay a percent everyday you have a short out or how it goes.
@Bigsander36 I just got gagged as usual :) . I have a big mouth. Bear market is when the "sentiment" of the market has changed tides or is starting to reverse from an uptrend to a downtrend.
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Bigsander36 Apr 14, 14 2:21 PM
Yea I got gagged for 24 hours for not knowing the rules but its ok. Thanks for the explanation, I'm about to dive into $ACAD for short selling.
MateoMontague Apr 15, 14 10:54 AM
Hope you were able to get in your short on ACAD yesterday. makin good cash this morning
Bigsander36 Apr 15, 14 11:03 AM
I wish I am out of day trades for on emore day and I was going to buy today at the high of 18 and short sell from there I have my eyes all over that stock.
MateoMontague Apr 15, 14 6:40 PM
ya it did a turnaround from down 11% to up on the day by 3%. I’m not good at trading in and out, wish I was but i always get caught in it and lose so on these plummets I just hang on to them until a clear reversal is evident. Good time to short it if you can.
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Good Day today! First trade ever and was very, very please to be able to apply the #timothySykes lessons
@Bigsander36 just became a fully transparent trader today!
Bigsander36 Mar 21, 14 9:15 AM
First day of joining Profit.ly and starting my research of companies and notes
Bigsander36 Mar 24, 14 11:15 AM
Missed my opportunity with #ECYT cause I just opened my account with my first broker. Learning from #Tim Sykes videos! I read this stock all the way.
It's quite complicated but there are lots of videos on you tube that can explain it better. Start with this one https://www.youtube.com/watch?v=Z1LctxzEREE
They fees are up to the broker, if they have to source the shares from a third party broker they will most likely have a yearly interest fee attached to them. Questrade charges 6% for the actual Margin bowworing fee and then if they have to source the shares for you its another 6%, but that's per year. So if you borrow $1000 worth of shares you would pay $.33 per day to have those shares at 12%. Just make sure you know what the fees are before you ask them to get them from a 3rd party as it coul
could be a fee upwards of 150%! And when you buy back your short position you have to call them to remove the shares from your account and halt the fee associated with the short.
Thanks for the video and the explanation, shorting is kind of a pain but defintely a good thing to use, and learn at the same time.
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