Short Selling dis-allowed after touching upper circuit

#1
Hi all,

My broker is Standard Chartered Wealth Managers and they have disallowed short selling after the market touched the upper circuit.

I was woundering if this is the case with other brokers too. Could members using other brokers provide some feedback.

If the market shed some of it's 20% gains, as a trader I could benefit from shorting the market. Stan-Chart claims this is an internal risk policy. I was curious if this policy is truly intended to help the trader or benefit the broker.

Could anyone shed some light. :confused:

Thanks.
 

Capricorn

Well-Known Member
#2
Trading was halted by the exchanges when the circuit was hit mate. You couldn't buy or sell if thats what u mean.:)

If its something to do with their policy , well its just applicable to them and not other brokers.
 
#3
Trading was halted by the exchanges when the circuit was hit mate. You couldn't buy or sell if thats what u mean.:)

If its something to do with their policy , well its just applicable to them and not other brokers.
Sure, I understand on the day the market hit the upper circuit, trading was halted. That's normal procedure. That's not what I am referring to.

The markets hit UC on 18th May. Today is 21st May and Stan-Chart is still not allowing short selling.

Have other brokers dis-allowed short selling as well ????? Any feedback would be appreciated.
 

Capricorn

Well-Known Member
#4
Sure, I understand on the day the market hit the upper circuit, trading was halted. That's normal procedure. That's not what I am referring to.

The markets hit UC on 18th May. Today is 21st May and Stan-Chart is still not allowing short selling.

Have other brokers dis-allowed short selling as well ????? Any feedback would be appreciated.
No such restrictions at all..
 

SavantGarde

Well-Known Member
#6
Brokers Cannot Have Their Own Policy In The Guise Of Internal Risk Management As Long As Your Ledger Supports The Margin.
It Is Definitely Time To Move Your Account From Them Including Any Other Banking Relationship You May Have.


SavantGarde

Hmm.... I felt the restriction did not make sense. Maybe it's time to look for a new broker :annoyed:


Thanks Capricorn.
 

pleaseharsh

Well-Known Member
#8
Hmm.... I felt the restriction did not make sense. Maybe it's time to look for a new broker :annoyed:


Thanks Capricorn.
archer ...i m unpleased to say that u have selected the worst online broker (for offline its ok)...i m still having standard chattered online a/c...though dont trade it.....cannot put in words how ridiculous it is.....its online software is the most sub standard neone would have seen....if u wanna do day trading just get rid of it asap.......

some of its cons are :
1) just provide intraday chart (no historical intraday chart facility)
2) no rm (relationship manager) facility
3) candlestick shows wrong levels (especially first 5 min candle never tally's the other broker levels most of the time)
4) leverage not given on stocks...(u have to do die hard argument to get it done)
5) to open different time frame graph for a single stock , u need to open different graph for individual tf for the same stock

and many more....
so for u and anyone stay away...

regards
harsh
 

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