Problem with PSE rules shorting can only be done intra day, meaning you have to sell it before the close.
Shorting is also prohibited in the pre-open and re closed. Between 0931 to 1159 only.
With this set up, I find it high risk, especially if you have large positions. Just for coffee positions is not a problem, ( No need to brag about them either)
Example. You shorted xyx at 1.36 for 1M around 1135 AM as one poster in FM said.
and at 1150 the tapes said
Bid Offer
1.36 1M 1.37 100,000
1.35 1M 1.38 10,000
1.34 1M 1.39 5,000
1 million cannot be adsorb by the market, so what will happen, the price will shoot up at the close due to short covering. That is why someone commented, when the ticker stops, the price was 1.30 and when it resumed after the market has closed it was 1.40.
In my experienced in short selling P6, my holding time is only 10 minutes and I earned about 6%.
That is real panic . Not catching tops. Since time is limited the best way to maximized profit in shorting, add the Intraday High plus low, divide it by 2, add 2 to five flucs, that is your selling price.
Compute this in your selected stock price last Friday, you will be surprise with the result. This tricks are for gamblers only.
3 comments:
hi sir tracer, i found it odd that a person who supposedly still had millions in an open position forgets that there is no trading the next day...a saturday...hahaha....buking
palusot pa na tomorrow means monday.
Its just a BS. His broker will be force to sell it without his knowledge at the markets price.
tracer, can you blog recommended trend following books? saka trade discipline books ala van tharp? :) thanks.
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