Question about shorting - Trading-Lab

Darior · #1 03-09-2008, 06:51 PM

First of all I want to say hello to all the members of Trading lab.
There are great articles on this site, thanks for sharing your knowledge!

I'm new to trading and I have one question about cost of short trade.

On first picture (long) I buy 100 shares of GOOG and I pay 5$ for cost of trade.
I also made "one cancels other bracket", and the cost of trade seems ok to me.

On second picture (short) I sell 100 shares of GOOG and made "one cancels other bracket", but I don't know why I'm having 85$ (I circled it in red) for cost of trade?

If someone could explain it to me. I attached pictures of a trade order.

Thanks in advance.
Dario

Alchemist · #2 03-09-2008, 07:34 PM

First of all, welcome to TL and thanks for the kind words!!

I have one question first: did your order to sell 100 GOOG get filled in its entirety? meaning, are you flat now?

on a side note, paying $5 to trade 100 shares of a stock is at least 5 times more than what you would pay if you used Interactive Brokers as your broker. just a thought....

www.interactivebrokers.com

Darior · #3 03-09-2008, 09:28 PM

Hi Alchemist,

well, my order can't be filled because software tells me that I don't have enough money, I'm trading on Thinkorswim platform.

I'm short for 60$, I have enough money on my margin account to sell 100 shares of GOOG and to pay comission of 5$ (and little more), but I don't have enough to pay 85$ for comission, so I don't know what it is.
Is comission bigger when I'm shorting stocks on my margin account, how is that at Interactive brokers?

I'm from Europe and I heard that Thinkorswim have the best platform, so that is the reason for me making account there, I'll see what Interactive brokers have to offer.
I'll call Thinkorswim support tomorrow to see what's the problem...

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#2 03-09-2008, 07:34 PM
Alchemist founder of Trading-Lab Join Date: May 2007 Location: New York, NY Posts: 296	First of all, welcome to TL and thanks for the kind words!! I have one question first: did your order to sell 100 GOOG get filled in its entirety? meaning, are you flat now? on a side note, paying $5 to trade 100 shares of a stock is at least 5 times more than what you would pay if you used Interactive Brokers as your broker. just a thought.... www.interactivebrokers.com __________________ Happy Trading!

#3 03-09-2008, 09:28 PM
Darior Junior Member Join Date: Mar 2008 Posts: 11	Hi Alchemist, well, my order can't be filled because software tells me that I don't have enough money, I'm trading on Thinkorswim platform. I'm short for 60$, I have enough money on my margin account to sell 100 shares of GOOG and to pay comission of 5$ (and little more), but I don't have enough to pay 85$ for comission, so I don't know what it is. Is comission bigger when I'm shorting stocks on my margin account, how is that at Interactive brokers? I'm from Europe and I heard that Thinkorswim have the best platform, so that is the reason for me making account there, I'll see what Interactive brokers have to offer. I'll call Thinkorswim support tomorrow to see what's the problem...