Margin Call - huh

u21c3f6 · Sep 29, 2008

The hardest thing to learn about trading IMO is how to take a loss.

If you don't learn that, you are gone.

Splat · Sep 29, 2008

The only people yu can call that will be acceptable to your broker is your bank to tell 'em to wire in more money! Other than that your broker can liquidate your positions anytime you exceed your margin. Your lucky your broker left you a message - some brokers wont even do that!!

Quote from mysharona2:

Is there anyone i can call who can protect my positions from being sold?

If the market will not go up tomorrow, i'll try to bargain for at least wednesday.

I really can't believe this is happening.

bbqbbq · Sep 29, 2008

Quote from mysharona2:

Guys, i'm signing off for now. I am so depressed. I dont even want to look at my computer screen anymore.

To think a few days ago i was up big time.

Maybe the fed will cut rates tonight, or maybe a big company will announce good earnings. I don't know.

also, you must learn to manage risk. if you're up big time, take some of the table. i'm not telling you to cut your winners short, but only don't take some off if their is still significant upside possible.

lets face it, betting on the outcome of the bailout was nothing short of a gamble. gambling on what 500 people in a small room will vote for.

so there was significant upside possible, but also significant downside. dont view it as a loss you will never recover. learn from your mistakes!

AMT4SWA · Sep 29, 2008

Quote from mysharona2:

How the hell can my broker compute margin call when the market is not yet even closed?

He Left a message on my machine.

I don't want to answer the phone since i am maxed out already.

If i do not answer my broker, does he have the right to sell my positions?

Anyway, i'll decide tomorrow if i will call him. I'll ask for more time.

Anyone know if we go up tomorrow? If so, my account maybe safe again.

Dude......borrow from your Wamu and Wachovia credit card to the max and "double-up"!!!!! :eek:

Thermactor · Sep 29, 2008

Quote from mysharona2:

I believed the fed would not let us fall.

No stops.

Just a plain margin account. No futures.

I'm sorry, stock_trad3r.

bh_prop · Sep 29, 2008

The guy who wrote that you could throw good money after bad gave you about the best advice. You can 1) wire money in to cover the call or 2) reduce or eliminate your exposure. There is no such thing as negotiating time. Your broker is not in the business of taking on market risk when trades go against you. If you do not act, they will act for you and you will have zero recourse.

Quote from mysharona2:

How the hell can my broker compute margin call when the market is not yet even closed?

He Left a message on my machine.

I don't want to answer the phone since i am maxed out already.

If i do not answer my broker, does he have the right to sell my positions?

Anyway, i'll decide tomorrow if i will call him. I'll ask for more time.

Anyone know if we go up tomorrow? If so, my account maybe safe again.

Lucrum · Sep 29, 2008

Quote from mysharona2:

...Anyone know if we go up tomorrow?...

NO, no one "knows". Although of course there is no shortage of people who think they do.

vikana · Sep 29, 2008

Quote from mysharona2:

How the hell can my broker compute margin call when the market is not yet even closed?
...
If i do not answer my broker, does he have the right to sell my positions?

It all depends on your broker. Interactive Brokers will liquidate you in realtime. Others give you 3 days to wire in the funds.

Call your broker and ask what the policy is. Being in denial doesn't help.

Ivanovich · Sep 29, 2008

Quote from mgookin:

Come on folks. This guy is in a jam and he has shown his respect for us by coming here asking for advice.

I feel for him, but he was here in several threads spamming about how the market can only go up, and to buy buy buy buy. People tried to tell him otherwise, but he didn't listen, didn't do any due diligence, just closed his eyes and went long. It's hard to be too sympathetic.

Ivanovich · Sep 29, 2008