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Your darkest trading questions answered

by , 31 January 2019
Your darkest trading questions answered
Q. "Can someone who is black listed open or have a share trading account?"
A. Yes, it is possible to have a trading account with a broker.  
The broker is responsible to do the relevant checks on a client as the broker is liable for the trading actions of his client. 
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Q. "I'm currently holding shares that are suspended.  What does this mean and what can I do about it?"
A. When a share is suspended it means that the company is still listed on the JSE, but the shares cannot be traded until they send an updated notice.  
The reasons for the share being suspended is the company has not met one of the listing requirements.  
1. Cooking the books
One example of a company that could lead to suspension is when a company is cooking the books. This is when a company manipulates the profit and loss by showing over exaggerated sales-to-book profits. 
2. Liquidation
When a company is about to enter into liquidation – If a company is bankrupt, or heading for bankruptcy the JSE will suspend it, or its directors can request a suspension. 
3. Fraud
If there is fraud involved on a high level in a company, the JSE can choose to suspend trading in its shares. This can include a company having no sponsor, continuous insider trading, lack of confidentiality with unpublished price-sensitive information etc. I've seen suspended shares mainly in either newly listed stocks on the ALT X or companies that are running at huge losses.  
Unfortunately, there is nothing to do but wait until further notice.
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Q. "In the middle of January I lost about R10,000 in one day on my Pound trade. What happened that the pound dropped so much and how can I avoid it?"
A. One word... 
In the middle of January, the MPs rejected Prime Minister Theresa May's Brexit deal through the House of Commons by a majority of 230 votes.
This means Britain is facing an uncertain and complicated future with this potential "no-deal".  
And this caused the pound to plunge to 1.2658.
One of my most important rules when it comes to trading any market is this. 
Never trade a market that is currently in the lime light where any major political or economic news event can cause a sudden spike in price. 
These are the market factors that we have no control over, and it’s better to stay out and be safe rather than sorry.
“Wisdom yields Wealth”
Timon Rossolimos,
Analyst, Pick Pocket Trader

Your darkest trading questions answered
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