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I still have no clarity as to whether they will deduct the money back. A lot of people had heavy losses today on buy position on etoro as there stop loss hit as they didn’t transition yet.
So have you got to pay the money back ?
On etoro you have the option to ‘take profit’ and ‘stop loss’ before the opening bell this morning I had a short position open at 238 circa $120 dollars in profit. I had a take profit at 80 ‘before the rights offering’ this morning the trade automatically closed at 77 and was showing 63% down so the platform hadn’t transitioned to the new share price. Thus resulting in a 300% take profit. I’m not sure I can explain it anymore. Etoro should have re structured and balanced it out to the new correct price.
A short get closed at stop loss, not at "stop profit"..
At the time of writing this nothing has been debited from my account or negative equity. I just wanted some clear direction on the matter from people who know this. As I said the positions were closed at the opening bell. I don’t have any more shorts open. I woke up with the trade closed and funds in my account. Going forward I know how to deal with this scenario when it next arises. It’s not worth the bloody anxiety.
It would be best not to short a share going x-rights in the day. Very risky, and if you lose, you should be aware of the potential complex situation you got yourself into. In my view, it's not worth the huge risk that sort of short carries.
not really relevant, it is what it is. Green or Red it depends on the screener, at AAPL split it showed mighty AAPL "down" 75 percent in some screener.
here is one showing the plus side-
https://www.cnbc.com/quotes/?symbol=RR.-GB
Which is fine. At the end of the day this is Etoros error. They closed the trade automatically below my take profit. I would have thought they would have adjusted to the new price accordingly but they didn’t. So I fully understand the new price is 84 which evaluates to 263 give or take but why is the market showing and being reported as being 63% down surely they should be showing +30%. What a woolly situation this is something of which I have never experienced.
"The Platform in which I trade ‘Etoro’ are now saying they will be charging me for this trade this meaning all my profits will be taken."
not for long
Despite me closing the trade at 77 this morning. I’m not sure how I can be accountable for the price at the close of play 16:30 when my trade was closed at 08:20
I opened a x5 leverage on a CFD short. As I said the position was closed this morning at 77. Profit credited to my account.
Well.. sorry to break it out for you, you are not in 300 percent profit. Actually, you are probably at about 30 percent loss. The price right now (pre rights) is 262p (was at 320p high today). NO luck for short seller, we don't appreciate them here.
Thanks for the response. I closed my short position on the opening bell approx 08:20. So the short isn’t still open. With that being said I should receive the profit from when I shorted I from 238 to 220 and that’s all. I can’t imagine I am in negative equity.
Good Evening,
I’m looking to gain some clarity from yourselves seen as I can’t get it from the platform in which I trade. I have had two shorts open for RR now since Friday last week. One at 238 one at 220. This morning it opened up at 77 and I achieved a 300% profit on each trade. The Platform in which I trade ‘Etoro’ are now saying they will be charging me for this trade this meaning all my profits will be taken. Is this correct. Sounds barking mad. Advise would be helpful. Many thanks in advance