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i made a mistakecan someone quicky explain short selling

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Prospect
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Posted: #1
hi, new here,,

i accidentally short-sold 6 contracts of new england at 6.5 for $40 on my online account,,not familiar with this practise,,dont really get it,,would appreciate if someone could tell me how to proceed to make a profit here?? ty and gl
 
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Posted: #2
anyone home?? can someone give me a clue here as to how i should proceed?? or explain short selling in a nut shell?
 
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Posted: #3
anyone here who does live betting and can help me make a profit or cut my loses here?? i accidently short-sold 6 contracts of new england at +5.5 at roughly 36-40 dollars a contract? whats the best step to proceed?? would really appreciate anyones help here
 
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Posted: #4
well....

you just bought the 6 contracts, technically borrowed
and u are hoping someone else buys it from you


 
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Posted: #5
not sure what book u are using
buut
u could prolly sell ur 6.5 NE spread to someone who wants that line
because rigth now i think its at +4.5 or +5.5
but that was at the beginning of the game

and right now...
live betting i think its +7.5
so u pretty much lost the value
because people are going to pay for the +7.5 instead of ur +6.5

but some might buy your +6.5
because there is a great return
 
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Posted: #6
hi,,ty 4 the replies,,,so i should buy new england to get out of this mess,,so i buy new england contracts your saying to get back to even roughly? i really want to get out of this,,ty for the input again,,gl on your wagers
 
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Posted: #7
 
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Posted: #8
Why get out of it,theyre getting their asses smacked
 
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Posted: #9
Quote Originally Posted by weeks:

Why get out of it,theyre getting their asses smacked


so are you saying im in a good potion now at 17-3 san diego?
 
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Posted: #10
profitable gambling position i meant
 
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Posted: #11
if you sold the pats at +6.5 ,what do you think fish
 
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Posted: #12
what website did you do this "bet" on ?
 
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Posted: #13
cheers weeks,,,i got it now,,never gambled that way before and am not in stocks,,just got out of highschool,,,was worried i was gonna muck up a profitable day.....gl to you hope you had a good day aswell
 
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Posted: #14
world sports exchange
 
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Posted: #15
well,if you tell me the website I can tell you for real because the spread on a spread site would read san diego -6.5 NOT  New England +6.5 and you would buy and sell around San Diego...so I could go check it out for you.
 
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Posted: #16
k,I`ll go look at it
 
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Posted: #17
k,I`ll go look at it
 
Prospect
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Posted: #18
Quote Originally Posted by weeks:

well,if you tell me the website I can tell you for real because the spread on a spread site would read san diego -6.5 NOT  New England +6.5 and you would buy and sell around San Diego...so I could go check it out for you.


my bad it was new england 5.5,,,i bought new england at 15 before second half..so made a profit
 
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Posted: #19
Quote Originally Posted by fishfingers:



my bad it was new england 5.5,,,i bought new england at 15 before second half..so made a profit
Order Report: Todays
Generated: Sun Oct 12, 22:06 EDT 2008
10/12/2008 21:58:21 Buy 6.00 F-10-12-08-S3 NEW ENGLAND +5.5 $15 Complete Fill
Executed: Bought 6.00

$15 -$90.00
10/12/2008 20:31:22 Sell 2.00 F-10-12-08-S3 NEW ENGLAND +5.5 $40 Complete Fill
Executed: Sold 2.00

$40 $80.00
10/12/2008 20:28:50 Sell 2.00 F-10-12-08-S3 NEW ENGLAND +5.5 $34 Complete Fill
Executed: Sold 2.00

$34 $68.00
10/12/2008 20:27:32 Sell 2.00 F-10-12-08-S3 NEW ENGLAND +5.5 $36 Complete Fill
Executed: Sold 2.00

$36 $72.00




 
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Posted: #20
Sorry bud,youre in the shit
 
the line is 5.5 and the stock when you sold was 6.5 equalling 12pts(for the pats) you sold remember  !!!
 
Every point over 12 that san diego beat new england is gonna cost you 40 bucks.
Worse news is,if you did it 6 times !!!!
every point they lose over 12 is gonna cost you $240
 
Ive been betting over 30 years and wonder why you got involved in somethin you know nothing about,
 
Watch the line change,LOOK how volitile it is
 
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Posted: #21
hmmmmmmmmmmm buying rather than selling would be ok
 
Prospect
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Posted: #22
i accidentally did it,,
 
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Posted: #23
hey kurt, u gotta visitor on the way.....ouch
 
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Posted: #24
Look ,its pretty simple.They offer a line/spread/handicap.that is fixed.
Then you buy and sell around that original line.
 
I dont understand that statement,but if you did ok alls good.
 
Good luck
 
 
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Posted: #25
ya i get it now thanks,,gl
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