Today I key in sell ABC share at $0.76 for 8000 units

Then I cancel the request as in above and then key in sell ABC share at $0.755 for 8000 units

However, the 8000 units in previous (1st times) has just cancelled/reduced for 7300 units only, that mean I already sell 700 units for $0.76. But I didn't notice.

At the same time, the transcation of sell ABC share at $0.755 for 8000 units has complete.

Means, I only have 8000 units share but I already sell 8700 units share. Then the remiser call me to buy back 700 units share.

Anyone has expericence in this case ? Will I be fine ?

No, it is deemed or being seen as mistake, so buy back the 700 unit immediately to cover back the short. You won't be fine but you may pay the loss (buy and sell at the same price so incur losses due to commission).

Is it mistake by remiser ?

It depends.

Sometimes, when we or the remiser want to cancel the order time, at the same time, there are someone already key in to take your order, so a split second of delay, some have been matched, so you can't cancel all.

It is a good practice/advisable everytime confirm cancel it all, before doing the newer transaction.

it will consider u as playing short

hermmm............. you trading with internet or by phone d
?

Online trading ~

My advice: Always check Order Status page first before key in new order.

okay.... so i nee to beware of this also le.....

and ya what price do you buy in ? if you got untung then why not sell it ?

This post has been edited by whoknowz: Jan 14 2009, 06:24 PM

I bought at 0.585 five days ago.
Ya, already sell it today.

So, what does your order log said?

wow oversell 1st time heard of so what ur remisier said la (his/her explanation)?

yo Congratz ya sell with a good price .... anyhow what is you trading gate way ?

The log transaction just show that what I said as in my first post here.

No say anythings, just ask me to buy back 700 units.

OSK188 online trading

Bursa will see this as a short-sell because you had sold shares that you don't own in the CDS. that's why your remisier called you to rectify the situation.

http://www.osk188.com/faq/spots.jsp?name=FAQ_OSK188Online

This post has been edited by lanux128: Jan 15 2009, 12:51 PM

Then what will happen in my case ?

If you have buy back or cover back your short immediately at the same day, no action will be taken.

It is periodically people do short sell their share range from mistake, mis-calculate or just like you case etc, which everyday there is a few forced buy-in from time to time involved small amount of shares.

just as cherroy explained, it's best to buy-back on the day (T-day) itself. however if by T+3, you still don't have the shares in your CDS then there'll be forced buying-in and you'll have no control over the price for the stock that you're buying.

is this suppose how it work ?? buy back on T+3 to cover back the short selling shares ??

if short-sell is not covered by T+2, then Bursa will instruct the stockbroker/dealer to do a 'buying-in' on T+3 but the price will be 10 bids higher than the previous day's closing. so it's better to let your remisier handle this as to have minimal losses.