Ok, i am the first to admit i am a total newbie, so don't jump down my throat.
I trade with commsec.
i bought about $12k worth of a stock that i hold a similar sized position in already.
My intention was to trade it with out ever settling on the stock.
i have about $3k in my CMA.
I forgot to sell my position down today and as such will have gone over the settlement date with out having sufficient funds to cover the position.
what happens next?
does comsec sell the whole position down on open on monday?
do they debit as much as they can and sell whats require to make up the difference?
will they contact me before they do anything?
i feel like a goose.