Have one trading hipcups on my lastest buy today. This incident start from last friday when i entered positions into milk milk. Milk Milk was trading near its bottom last week and I made an attempt to enter postion queuing my order @ 1.12 in the early afternoon despite my analysis that 1.09 is the best entry point.
The whole afternoon went and i saw saw the price see-saw-ing between 1.13-1.15. It didn't manage to hit my 1.12 mark and just 30 mins before the trading hour ends, I adjust it to 1.14 which I manage to get it 4 mins before closing.
Markets then open the following week and I made the payments through EPS on tuesday.
On Wednesday, I proceed to check my account to see if my $$ is transferred into my trading account where it reflect $0.... then i guess ok the transaction should not be so fast and its normal. Milk Milk also drop to a low of 1.10 this day which is near to my forcasted entry price.... I then curse and swear over my impatience as I got the counter at a premium ...
Today, I check my account again the morning, It again reflect as $0.... i then proceed to check if my purchase has gone true. To my astonishment, it is still outstanding.... "OMG where is my thousands of dollars". I then called my mum for the security pin to log into ibanking and double check my bank account and the thousands of dollars is reflected as transferred...In a panic, I set to queue at 1.17 to sell.... as I dun have capital to pay. Thereafter, I rang my broker to check.... and got to know that the money is in but is not reflected on the account. From this call, i get to know that account details are only updated 1 day after transferred (the condition is it need to be before 9p.m.). I have transferred after 9.p.m. on tues and thurs it will only reflected on thursday.... where they need to key in manually into the system(what a lousy system that the securities company has).... I then went to check the order status and wanted to withdraw the order.... KNN it went thru.... argh.... blame it on my ignorance this time..... Sian innocently miss the boat.... SAD (MacD line going to cross signal line, 4G1R, low RSI)
NAN DAO I MING FAN TIAN SA GU XING! Why I always have sway encounters!!! TAMADE!!!
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4 comments:
Poor noob, at least now you know. Shouldn't have panicked. I had similar experiences too, both with dbs vickers and poems. DBS vickers is more prompt in their reflection of the amt you put in (as fast as 1 day) while poems do take its own sweet time to reflect. If I'm not wrong, poems do take 4 days to reflect. Take it as a lesson learnt loh :P at least make $$ not lose money right?
earn 30 bucks... but innocently cut my profits...
since u using POEMS, can convert to PCMA account, just throw in a sum of money, e.g. $5k or $10k and let it auto deduct from there to settle your trade, no need to rush to make payment every time u do a trade ... only when not enough $$ inside the account, then u need to top up the balance ... moreover, the money u put inside the PCMA account earns interest as it is invested in philip money market, the interest earned is much higher compared to when u put in bank account ... win-win situation mah :)
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