Hi Guys,
I am new to trading and i want to share u my experience with my first shortselling
On the 4 th day of my online intraday trading , I mistakenly sold 100 hcl stocks, mistakenly because i did not buy them.
As a software engineer, i thought the trascation will be cancelled.
The hcl share increased by value.
next day evening , my broker called me and said u had done a "short" but did not cover them( The broker is sleeping untill then). so they will go to Auction and u have to pay 20% penalty for that.
But i sold only 100 shares, so escaped with very less penalty.
I request anyone to explaninly clearly about shortselling in cash market and in Futures.
I am new to trading and i want to share u my experience with my first shortselling
On the 4 th day of my online intraday trading , I mistakenly sold 100 hcl stocks, mistakenly because i did not buy them.
As a software engineer, i thought the trascation will be cancelled.
The hcl share increased by value.
next day evening , my broker called me and said u had done a "short" but did not cover them( The broker is sleeping untill then). so they will go to Auction and u have to pay 20% penalty for that.
But i sold only 100 shares, so escaped with very less penalty.
I request anyone to explaninly clearly about shortselling in cash market and in Futures.