OK! So Now There Is No Shorting What Do We Do? **PLEASE HELP**

[jesterx]

OK i am full time trader and I dont know what to do.

PLEASE HELP.

I had a maquarie prime account open and were shorting stuff and doing really well. Then They banned shorting, and I am throwing my arms up in the air as to what to do.

do I

1) Start going long (silly in a bear market)

2) Trade something else like currencies

3) as people dump their money and move to gold, gold could be a good longer term investment. So how do I trade that.

4) IS there another sneaky way around this short selling rule i.e. do you know of any providers that are still allowing short selling.

PLEASE help, this is my income and I need to know what to do.

Maybe futures? or what not??? what are you thoughts on the matter.

Any help would be GREATLY appreciated!!

 

[James Austin]

Re: OK! So Now There Is No Shorting What Do We Do ** PLEASE HELP **

this is going to sound like a smart reply, (I dont mean it to)
and because of that my comment probably wont sink in.

if you have to ask these questions, it indicates you dont know what you are doing, thus stay out of the market and spend time learning and studying the market thoroughly first.

it might sound simplistic, but this is the remedy to your dilemma

 

[jesterx]

Re: OK! So Now There Is No Shorting What Do We Do ** PLEASE HELP **

this is going to sound like a smart reply, (I dont mean it to)
and because of that my comment probably wont sink in.

if you have to ask these questions, it indicates you dont know what you are doing, thus stay out of the market and spend time learning and studying the market thoroughly first.

it might sound simplistic, but this is the remedy to your dilemma

thanks for your opinion...

but you still didnt answer my question directly.

anyone else care to help and give some options available.

 

[korrupt_1]

Re: OK! So Now There Is No Shorting What Do We Do ** PLEASE HELP **

Pick a stock you think is undervalue now. BUY into and keep it for the longer term.

AFAIK you can short for hedging purpose...

So... if you speculate that in the short term it will go down.... you can short it (ie hedge)... that way, you will make some money as it goes down. Then when you think the stock has reached the bottom... close out your hedge

 

[prawn_86]

Re: OK! So Now There Is No Shorting What Do We Do ** PLEASE HELP **

Jester,

Due to ASIC rules (which you need to read), people on this site are unable to give financial advice unless they are licenced.

I suggest you read the site rules and guidelines, and learn to make use of the search function as there is a heap of invaluable information to be found, you just need to search.

This thread has now been closed.

Prawn