Shorted oil at $125

captainwifi said:
I just shorted oil at $125 on www.gt247.co.za with a stop loss at $126.

Anybody else around here shorting nymex oil ?
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What does this mean?

Does that mean you taking the view that oil is now starting to go down in price. The lower it gets the better for you, as you would sell at $125, but buy at a price lower than $125 - or something or other.
 
Yes, you sell what you don't own. If you open a simulated account at no cost with http://www.gt247.co.za you can also short the OIL and see how much money you would have lost or make. Google for "short selling" which will explain what happens.
 
yes, that is what going short means. you make money if the price falls. the opposite would be going long (which is normal buying of the commodity/share).
 
from the time I posted the oil dropped to $124,80 . If you closed out the position your profit would have been 10 points. Multiply the points with your stake say R100 = R1000 in a few minutes. Its back up now at $125,15
The spread is 10 points between bid and offer
 
Oil now back to $124,83 thus we are in the money with a profit of 10 points should you close out the trade, which I am not doing.
 
pardon my noobieness. Are you "play" trading or are you actually making/losing money here :confused:
 
Vegeta said:
pardon my noobieness. Are you "play" trading or are you actually making/losing money here :confused:
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Yes, I trade myself in real-time. I closed out the trade at $124,70.
The trades I post in real-time here:

http://scratchpad.wikia.com/wiki/Tradingfutures100

Wikia logs the exact time that one makes a post thus you can go and check to see if my trading claims are truthful or not - I can't fake the results.

Oil is now at $124,50 thus you would have made a 50 point profit if you had followed my real-time short sale.
The beauty about spread betting is that anybody can do it with as little as R200.
 
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captainwifi said:
from the time I posted the oil dropped to $124,80 . If you closed out the position your profit would have been 10 points. Multiply the points with your stake say R100 = R1000 in a few minutes. Its back up now at $125,15
The spread is 10 points between bid and offer
Click to expand...

But do you play R100 per point? :rolleyes:
 
I have R100 make me a quick R1000
You can get your cut if you play your cards right.

*logs onto internet banking*
Account pls?
 
Anyone else here trading CFDs? Made a killing on financials over the last few weeks...
 
be careful people reading this and not knowing exactly what they are doing. you could loose much more than the actual cash you are putting in. the cash is just a deposit (+/-10%). A bank loans you the rest.

If the market drops/raises and there are no buyers/sellers, you are stuck and cannot liquidate your position!
 
Yip, depends on your gearing. A 10 times gearing means in Lehman terms that you purchase a contract at R10k for instance but your total exposure is R100k, meaning your R10k can either make or lose you R100k - be very careful.

I was long on most financials a few weeks back (very cheap and underbought IMO) and the market turned in my favour last week (overbought) so I started isolating a few who I thought would trade erratically and took a bit of a gamble on Standard Bank, First Rand and Nedbank Group who traded rather strangely yesterday IMO. I stayed long for a few days then shorted a few as a gamble, then just followed the market yesterday. Was a bit of educated guess work with some statistical analysis.
 
i guess this is what it felt like when my friend asked me

"what's a megabyte"
 
DJStealth said:
Yip, depends on your gearing. A 10 times gearing means in Lehman terms that you purchase a contract at R10k for instance but your total exposure is R100k, meaning your R10k can either make or lose you R100k - be very careful.

I was long on most financials a few weeks back (very cheap and underbought IMO) and the market turned in my favour last week (overbought) so I started isolating a few who I thought would trade erratically and took a bit of a gamble on Standard Bank, First Rand and Nedbank Group who traded rather strangely yesterday IMO. I stayed long for a few days then shorted a few as a gamble, then just followed the market yesterday. Was a bit of educated guess work with some statistical analysis.
Click to expand...

Well please quit messing about with financial shares:mad:
My dam employee share options are worth -R 78 521:(:mad:
 
Shame! But I doubt my relatively small investments are enough to move he markets. I day trade sheep style...
 
what about all the okes that bought oil when it was at 140 dolla

surely they have lost so much money

how can u be "making" money if oil gets cheaper

or am i being stupid?:)
 
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