Today is a bad day...

SLM · 1 Today is a bad day... Thu Jun 23, 2011 3:47 pm

SLM

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Hi All,

Today, I have to resettle all the credits from broker firm. It is resulted with huge lose for me. My broker asked me to settle the all credits before tomorrow noon Shocked

. Anyway it is a good lesson to me for utilized their credits. Eventually they got their portion (brokerage...) and nothing for us. Think this is the same situation to you guys also.
Sad

manula · 2 Re: Today is a bad day... Thu Jun 23, 2011 4:07 pm

manula

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Yes... better to buy from your own money.. to much credit is not good.. one day you will be loose but brokers will win.

Hiru · 3 Re: Today is a bad day... Thu Jun 23, 2011 4:23 pm

Hiru

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Also do not do frequent trading if they do not add significant value to your wealth because brokers earn out of your pocket each time you sell at loss even though you use your money.

yasser · 4 Re: Today is a bad day... Thu Jun 23, 2011 4:28 pm

yasser

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manula wrote:Yes... better to buy from your own money.. to much credit is not good.. one day you will be loose but brokers will win.

I burnt my finger sometime back never use their money you will be flushed out eventually.
The CSE should stop this type of scenarios happening the retailers are the ones who suffer, i read a article where CSE investigated 5people 2are directors and gave them warning for manuplation, thats Too Little Too Late.

Fresher · 5 Re: Today is a bad day... Thu Jun 23, 2011 6:02 pm

Fresher

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SLM wrote:Hi All,

Today, I have to resettle all the credits from broker firm. It is resulted with huge lose for me. My broker asked me to settle the all credits before tomorrow noon . Anyway it is a good lesson to me for utilized their credits. Eventually they got their portion (brokerage...) and nothing for us. Think this is the same situation to you guys also.

well, you should have known better. someone is giving you credit for 5 days, you better pay up. You can make profits with this credit if you are wise and pick the right opportunities.

NEM · 6 Re: Today is a bad day... Thu Jun 23, 2011 6:11 pm

NEM

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npp wrote:

SLM wrote:Hi All,

Today, I have to resettle all the credits from broker firm. It is resulted with huge lose for me. My broker asked me to settle the all credits before tomorrow noon . Anyway it is a good lesson to me for utilized their credits. Eventually they got their portion (brokerage...) and nothing for us. Think this is the same situation to you guys also.

well, you should have known better. someone is giving you credit for 5 days, you better pay up. You can make profits with this credit if you are wise and pick the right opportunities.

It is very difficult select a share for 5 days then you have to go after rallies. Following a rally is really risky, at the end of the day you might be a winner or looser. But broker is always on the winning side.

Fresher · 7 Re: Today is a bad day... Thu Jun 23, 2011 6:16 pm

Fresher

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NEM wrote:

npp wrote:

SLM wrote:Hi All,

Today, I have to resettle all the credits from broker firm. It is resulted with huge lose for me. My broker asked me to settle the all credits before tomorrow noon . Anyway it is a good lesson to me for utilized their credits. Eventually they got their portion (brokerage...) and nothing for us. Think this is the same situation to you guys also.

well, you should have known better. someone is giving you credit for 5 days, you better pay up. You can make profits with this credit if you are wise and pick the right opportunities.

It is very difficult select a share for 5 days then you have to go after rallies. Following a rally is really risky, at the end of the day you might be a winner or looser. But broker is always on the winning side.

with credit you have to be either sure or take a calculated risk. if you win big, then you will not be thinking whether the broker also won or not. that was a gain which is not from your money at all. so the loss should be also taken with the same spirit if credit is decided to be used

NEM · 8 Re: Today is a bad day... Thu Jun 23, 2011 6:26 pm

NEM

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npp wrote:

NEM wrote:

npp wrote:

SLM wrote:Hi All,

Today, I have to resettle all the credits from broker firm. It is resulted with huge lose for me. My broker asked me to settle the all credits before tomorrow noon . Anyway it is a good lesson to me for utilized their credits. Eventually they got their portion (brokerage...) and nothing for us. Think this is the same situation to you guys also.

well, you should have known better. someone is giving you credit for 5 days, you better pay up. You can make profits with this credit if you are wise and pick the right opportunities.

It is very difficult select a share for 5 days then you have to go after rallies. Following a rally is really risky, at the end of the day you might be a winner or looser. But broker is always on the winning side.

with credit you have to be either sure or take a calculated risk. if you win big, then you will not be thinking whether the broker also won or not. that was a gain which is not from your money at all. so the loss should be also taken with the same spirit if credit is decided to be used

Yes those are not your money. That is the problem, that is why you have to take a massive risk. So taking risk for others money is not a wise decision but your temptation may beat you when a rally is going on. You forget all the things and buy.If you are really lucky you will earn some money but majority makes huge losses. Buying for credits is not a good decision at all.

cse_investor · 9 Re: Today is a bad day... Fri Jun 24, 2011 1:47 am

cse_investor

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Are there any other forum members who have been forced to clear their credit?

@SLM: Do you mean to say you were only told so today, and had to settle everything and in full right away? No warning? No advance notification? No deadline?

SLM · 10 Re: Today is a bad day... Fri Jun 24, 2011 9:38 am

SLM

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@ cse_investor: No, another friend in my office was asked to settle them. Yes broker asked to settle the entire amount by end of today (Friday) noon. It is the only advanced notification.