Let me first say I am a long investor. But I would like to know how to sell short. This is more about the practical knowledge so I understand the game, rather than something I want to do as I'm still undecided to its virtues.
I have an account on OptionsXpress Australia which is pretty usable but it doesn't teach you about the more intricate trades.
In this case the Action is Sell Short.
Under Price are these option
( ) Market
( ) Limit $xxx
( ) Stop $xxx
( ) Stop Limit
( ) Market On Close
( ) : checkbox, choose one only
$xxx: add $ but in only either option
OK, my theoretical problem is shares YYY are trading at $10. I want to sell short at $9.
The principles of Short Selling are still vague. Forgive my ignorance.
How do I set this up in my online account?
If anyone is a good teacher I will be attentive.
cheers and thank you.