I shorted Tesla at $1,900 - It was a terrible idea

Jamie McKane

MyBroadband Journalist
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I shorted Tesla at $1,900 - It was a terrible idea

I shorted Tesla's stock when it hit $1,897 a week ago, and it was a horrible decision.

As an IT journalist in South Africa, however, I naturally did not have any real money to invest and I used a demo Webtrader account from Standard Bank to make my play.
 

Swa

Honorary Master
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May 4, 2012
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27,407
Yeah this is what happens when you don't know much about CFD trading in general. Tesla is overhyped but at 10:1 it can only move 10% for you to lose all your money. I wouldn't even go 2:1 seeing as no-one knows where it will stop.
 

damian24

Senior Member
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Apr 5, 2005
Messages
806
Use CFD's only for bridging to ensure I don't miss out on movement during T+2 windows, when moving to/from Rand - GBP - USD or if money is tied up somewhere else temporarily. Webtrader costs are very high compared to foreign platforms - then again every local RSA trading platform is expensive.

ie. LSE trades as £12 + 0.3%, on Degiro I pay £1.75 + 0.014% max charge £5, that's almost at £40 difference for a single trade of £10000

My platform of choice is Degiro due to cost advantages and marketscreener.com for stock updates...

D
 

system32

Expert Member
Joined
Dec 29, 2009
Messages
4,359
Don't bet against Elon Musk...
IQ 160
Created Zip2
Created Paypal - Market Cap $240b
Created Tesla - Market Cap $413b
Created SpaceX - Valued $33b
First private company to:
>send rocket to space
>dock with ISS
>send astronaut to space
Boring company
Neuralink
Open AI
And creator of Blastar
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
27,407
Don't bet against Elon Musk...
IQ 160
Created Zip2
Created Paypal - Market Cap $240b
Created Tesla - Market Cap $413b
Created SpaceX - Valued $33b
First private company to:
>send rocket to space
>dock with ISS
>send astronaut to space
Boring company
Neuralink
Open AI
And creator of Blastar
Only thing I got out of this.
 

R13...

Honorary Master
Joined
Aug 4, 2008
Messages
36,240
I remember Tesla struggling to break out of the 300/400 mark. And now it is over $2000. In just a few months? What happened?
 
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