View Full Version : Not Able to sell stocks yet via Warka
chakkarchee
10-01-2009, 11:16 AM
I have asked this question before but did not get reply that answers the question.
I have tried to sell 2 stocks via two different order through warka more than month ago to no avail, one was 100,000 shares of Bank of Baghdad and 2nd was Chemical and plastics for 100,000.
Can someone share their experience of selling stock and completing their sell order. I used warka sell format to complte my order. I am wondering if the order was too big to fill or there is any particular way to complte a sell order. Thanks
Kickabuck
10-01-2009, 05:06 PM
I have asked this question before but did not get reply that answers the question.
I have tried to sell 2 stocks via two different order through warka more than month ago to no avail, one was 100,000 shares of Bank of Baghdad and 2nd was Chemical and plastics for 100,000.
Can someone share their experience of selling stock and completing their sell order. I used warka sell format to complte my order. I am wondering if the order was too big to fill or there is any particular way to complte a sell order. Thanks
E-mail Mr. I, their response back to my questions have been within 48 hours. I read somewhere that they will keep your sales order open until it's gone. I would like to help more, but there's no way I'm putting a sell order in on those 2 stocks :cash:
HumbleGenius
10-01-2009, 05:47 PM
I can say my concern 'radar' is up a bit. I tried to sell a particular stock that was trading relatively actively for 6 weeks before it shut down for 'electronic'. There were plenty of opportunities to 'sell' it in my opinion (volume/no of trades) but it was never sold on my behalf. I have resubmitted a sell order now that it is back trading. The results today reflect that a reasonable number of trades occurred for this stock. My strike price (not a high price but my asking price) was hit also. This is where I will see if the electronic trading is as we have been led to believe and is 'investor' neutral. If my requested selling stock was not part of the trading today I will have to wonder about the legitimacy of the 'electronic phase' we are now in when it comes to 'non-iraqis'.
I knew I was getting screwed (and accepted that as payment for sneaking in where only professionals :eek: should be) before the electronic phase. however I was hoping that would not be the case in the new world.
Bottom line, I have trust in Warka and the process so I am not worrying 'yet'. However as I said, I am starting to wonder.......on the selling side.
War Eagle
10-01-2009, 05:59 PM
You do NOT want to hear my "experiences" with Warka over the last six months-HORRIBLE-TO SAY THE LEAST.I think WarkA IS Taking care of their Iraqi customers first,and their large foreign (Bill Burbank) customers second-and the rest of us get the "crumbs".In time they will be back as one of the best to do business wioth-just not NOW!!!!!!!!!!!!!!!!!!!!!!11
chakkarchee
10-01-2009, 06:01 PM
This is the reply i got from MR I few weeks ago
"With the ISX going electronic the process and procedures have become unfortunately lengthier your sell orders will continue until sold. As bids are made on your shares and sold my department will credit the funds to your account providing a confirmation."
Though I am not doubting Warka, buying and selling should be quicker than one month to have a little control over the portfolio.
The reason I put my question here is to find out if any one has been able to complte their sell order electronic or manual throuhg Warka and how was their experience.
cowpoke
10-01-2009, 06:02 PM
Yes, Warka does seem to have slowed up on their ISX Dept side of business lately.
I wonder if it is as they say the ISX as the ones that are holding things up. I also think that they hold Millions of shares in the proxy company and this may somewhat skew their "official" books.
They may just like to sell/Transfer only so many shares a quarter out of the proxy so as not to make their quarterly numbers fall off a cliff.
I don't think they have the 1 time write down and charge off rules of the game down over there yet.
JMO.
HumbleGenius
10-01-2009, 06:37 PM
Yes, Warka does seem to have slowed up on their ISX Dept side of business lately.
I wonder if it is as they say the ISX as the ones that are holding things up. I also think that they hold Millions of shares in the proxy company and this may somewhat skew their "official" books.
They may just like to sell/Transfer only so many shares a quarter out of the proxy so as not to make their quarterly numbers fall off a cliff.
I don't think they have the 1 time write down and charge off rules of the game down over there yet.
JMO.
The particular shares that I am selling are in my good name and I have a copy of the certificate. I wonder how that all fits in to the equation.
Also, I am assuming that if a non-iraqi sells and a iraqi purchases then it is considered an 'Iraqi' transaction / trade and not a 'Non Iraqi' trade and would show up on the Iraqi statistics for the day. Anyone know the method of score keeping on that one?
RoyalBeluga
10-01-2009, 06:42 PM
Why does anyone want to sell yet anyway? :thinking: Isn't this supposed to be the buy and hold phase? :wait:
chakkarchee
10-01-2009, 06:47 PM
Why does anyone want to sell yet anyway? :thinking: Isn't this supposed to be the buy and hold phase? :wait:
To have enough cash coverage for the paid up shares
HumbleGenius
10-01-2009, 06:49 PM
Why does anyone want to sell yet anyway? :thinking: Isn't this supposed to be the buy and hold phase? :wait:
RB,
Didn't you hear? I am selling on the news that I heard.
It certainly is not because of an unforeseen life event.
I am not at liberty to tell you the news myself but you may want to post that question in all the threads you go into tonight. Ask about the news on finding out why we should all be selling now. Who knows by the time your done asking the question so many times you may have an unforeseen life event yourself. And always remember KTF:muscle:
RoyalBeluga
10-01-2009, 06:53 PM
RB,
Didn't you hear? I am selling on the news that I heard.
It certainly is not because of an unforeseen life event.
I am not at liberty to tell you the news myself but you may want to post that question in all the threads you go into tonight. Ask about the news on finding out why we should all be selling now. Who knows by the time your done asking the question so many times you may have an unforeseen life event yourself. And always remember KTF:muscle:
huh? :thinking:
Kickabuck
10-01-2009, 07:09 PM
You do NOT want to hear my "experiences" with Warka over the last six months-HORRIBLE-TO SAY THE LEAST.I think WarkA IS Taking care of their Iraqi customers first,and their large foreign (Bill Burbank) customers second-and the rest of us get the "crumbs".In time they will be back as one of the best to do business wioth-just not NOW!!!!!!!!!!!!!!!!!!!!!!11
War Eagle, are you sure your e-mail isn't filtering out what they send you? I have less than a 48 hour window on everything (except for the recent holiday period) for a response back from them. PM me if you want the e-mail addresses I send to, they are the standard 2.
USParatrooper78
10-01-2009, 07:26 PM
RB,
Didn't you hear? I am selling on the news that I heard.
It certainly is not because of an unforeseen life event.
I am not at liberty to tell you the news myself but you may want to post that question in all the threads you go into tonight. Ask about the news on finding out why we should all be selling now. Who knows by the time your done asking the question so many times you may have an unforeseen life event yourself. And always remember KTF:muscle:
Is it just me or is it incredibly annoying when someone comes in with a "cryptic" post along the lines of fire and brimstone, drops a nugget of information, then says "I cant say anymore about it". Why post the info in the first place??????? Ok Im done on my soapbox.
RoyalBeluga
10-01-2009, 07:29 PM
Is it just me or is it incredibly annoying when someone comes in with a "cryptic" post along the lines of fire and brimstone, drops a nugget of information, then says "I cant say anymore about it". Why post the info in the first place??????? Ok Im done on my soapbox.
............. :giggle:
cowpoke
10-01-2009, 07:30 PM
The particular shares that I am selling are in my good name and I have a copy of the certificate. I wonder how that all fits in to the equation.
Also, I am assuming that if a non-iraqi sells and a iraqi purchases then it is considered an 'Iraqi' transaction / trade and not a 'Non Iraqi' trade and would show up on the Iraqi statistics for the day. Anyone know the method of score keeping on that one?
Well, then I would think there is more than just Warka hoseing up things.
What the heck do they care if you sell. Heck they would like to sell them for you so they can collect a fee.
Maybe some back room politics going on over there.
cowpoke
10-01-2009, 07:32 PM
Is it just me or is it incredibly annoying when someone comes in with a "cryptic" post along the lines of fire and brimstone, drops a nugget of information, then says "I cant say anymore about it". Why post the info in the first place??????? Ok Im done on my soapbox.
Just look for the cryptic symbols..ktf if you see them anywhere , buyer beware.:biggrin:
maybe the Humble man is just having some fun..
Kickabuck
10-01-2009, 07:38 PM
RB,
Didn't you hear? I am selling on the news that I heard.
It certainly is not because of an unforeseen life event.
I am not at liberty to tell you the news myself but you may want to post that question in all the threads you go into tonight. Ask about the news on finding out why we should all be selling now. Who knows by the time your done asking the question so many times you may have an unforeseen life event yourself. And always remember KTF:muscle:
HumbleGenius, why are you doing that to poor RB :confused:
RoyalBeluga
10-01-2009, 07:41 PM
HumbleGenius, why are you doing that to poor RB :confused:
Hey enough of the poor, I'm RICH ...... RICH i tell ya! :giggle:
RoyalBeluga
10-01-2009, 07:46 PM
Soooooo........ did I miss something? :dull:
pepe12345
10-01-2009, 07:57 PM
Hi
I have sold stocks thru warka some got some time and some before i know it were sold it depends if your numbers reflect profits. Remember if a dinar is around 1,170 to the dollar imaging Fils that are basically cents fragment of a dinar.
The guy that talk about the selling order been open until it sells, that is correct.
Seaview
10-01-2009, 08:00 PM
......I knew I was getting screwed (and accepted that as payment for sneaking in where only professionals :eek: should be) before the electronic phase......
Crow will be proud. :rock: :rock: You know your place. :giggle: :rofl:
chakkarchee
10-01-2009, 08:04 PM
Soooooo........ did I miss something? :dull:
I like all the chit chat but we are back to square one, which happened last time too. No one had reported selling their stock yet so let me put this back to the original track.
My question here is to find out if any one has been able to complte their sell order electronic or manual throuhg Warka and how was their experience.
Did any one completed sell order via Karmal I am wondering.
Kickabuck
10-01-2009, 08:10 PM
I like all the chit chat but we are back to square one, which happened last time too. No one had reported selling their stock yet so let me put this back to the original track.
My question here is to find out if any one has been able to complte their sell order electronic or manual throuhg Warka and how was their experience.
Did any one completed sell order via Karmal I am wondering.
Are you really sure you submitted a sell order for the companies you listed? What dates did you submit the sell orders on?
Seaview
10-01-2009, 08:11 PM
It goes into chat because not enough members have sold to get a clear picture of how efficient the service is through Warka. I think not so good, because the last member to bring this to the attention of the forum was Investindinar (or something like that) and it almost put him in an early grave. :smoke: :nod: :whew: :wave:
RoyalBeluga
10-01-2009, 08:14 PM
It goes into chat because not enough members have sold to get a clear picture of how efficient the service is through Warka. I think not so good, because the last member to bring this to the attention of the forum was Investindinar (or something like that) and it almost put him in an early grave. :smoke: :nod: :whew: :wave:
I don't think I remember this, care to bring me up to speed?
Mo Dinar
10-01-2009, 08:17 PM
Rather than an "All or None" type of sell order, say you are trying to sell 100 shares, there might be a day you sell 5, another day 9, maybe a day with none being sold; but Warka is monitoring and crediting your account ever so slowly as they sell until all 100 are gone! :thinking:
This is the reply i got from MR I few weeks ago
"With the ISX going electronic the process and procedures have become unfortunately lengthier your sell orders will continue until sold. As bids are made on your shares and sold my department will credit the funds to your account providing a confirmation."
Though I am not doubting Warka, buying and selling should be quicker than one month to have a little control over the portfolio.
The reason I put my question here is to find out if any one has been able to complte their sell order electronic or manual throuhg Warka and how was their experience.
Seaview
10-01-2009, 08:23 PM
...care to bring me up to speed?
Not really. It seemed to drag on interminably. :sleepy: Look up his posts, he doesn't post too often, so it should be easy. It was a few months back. It worked out in the end. I think a lot of his emails were going to spam or something. That's what Warka told him anyway. :wink: :giggle:
RoyalBeluga
10-01-2009, 08:26 PM
Not really. It seemed to drag on interminably. :sleepy: Look up his posts, he doesn't post too often, so it should be easy. It was a few months back. It worked out in the end. I think a lot of his emails were going to spam or something. That's what Warka told him anyway. :wink: :giggle:
Soooo.... did I miss anything else? What's this news HG is talking about?
Seaview
10-01-2009, 08:27 PM
Soooo.... did I miss anything else? What's this news HG is talking about?
I think he's wants to appear in the loop. :shhh: :giggle:
RoyalBeluga
10-01-2009, 08:28 PM
I think he's wants to appear in the loop. :shhh: :giggle:
loop? :thinking:
chakkarchee
10-01-2009, 08:29 PM
Are you really sure you submitted a sell order for the companies you listed? What dates did you submit the sell orders on?
Following is my first order, 2nd was 3 days later,
Hello Mr. I,
ISX Dept.
I, xxxxx authorize Warka Investment Bank to sell approximately 200,000 Shares of Bank of Baghdad on Iraq Stock exchange and transfer funds in my IQD Savings Account #_IQD savings account no. is: xxxxxxxxx . The following ISX stock sale is to be executed for the trading day of September 3 rd 2009.
Sell 200,000 shares of stock in the company below:
Bank of Baghdad
Parties in full agreement, signed below.
xxxxxxxx Date September 2nd 2009
Legal Account Owner & Investor
____________________________________ Date_____________
Is it just me or is it incredibly annoying when someone comes in with a "cryptic" post along the lines of fire and brimstone, drops a nugget of information, then says "I cant say anymore about it". Why post the info in the first place??????? Ok Im done on my soapbox. I know, I hate that crap!:itwasntme:
RoyalBeluga
10-01-2009, 08:39 PM
I know, I hate that crap!:itwasntme:
Yeah right, you invented it! :giggle:
Crow will be proud. :rock: :rock: You know your place. :giggle: :rofl: You all laugh, but it's always like this...messed up...there is a certain way this is all done, it all works out.
Yeah right, you invented it! :giggle: Sharp as a knife. It's scary.:eek:
RoyalBeluga
10-01-2009, 08:41 PM
You all laugh, but it's always like this...messed up...there is a certain way this is all done, it all works out.
in the long run! Hence 'long-term' investment :rock:
Seaview
10-01-2009, 08:58 PM
You all laugh, but it's always like this...messed up...there is a certain way this is all done, it all works out.
Am I worried? :rolleyes: :tongueout:
Seaview
10-01-2009, 09:27 PM
deleted.......
I believe you believe you are the only one that gets it and I don't just mean the ISX.
Read it before it was deleted.
I believe you believe you are the only one that gets it and I don't just mean the ISX.
Read it before it was deleted. Having a few spiritual thoughts?
Seaview
10-01-2009, 09:36 PM
Having a few spiritual thoughts?
....Don't make me laugh.... :giggle:
But that doesn't make me or anyone else one dimensional. :nerd: :wave: :smile:
Seaview
10-01-2009, 09:37 PM
Having a few spiritual thoughts?
I did have a moment once. :nod: :happy:
But then I came to my senses and put it down to coincidence.
I don't believe in coincidence. :wondering:
....Don't make me laugh.... :giggle:
But that doesn't make me or anyone else one dimensional. :nerd: :wave: :smile: At the end of the line it becomes more of an issue...no problem.
Seaview
10-01-2009, 09:43 PM
At the end of the line it becomes more of an issue...no problem.
I can always change my mind. Hedge my bets so to speak. :yelrotflmao:
Isn't God all forgiving? :eek: I hope so. :crying:
I can always change my mind. Hedge my bets so to speak. :yelrotflmao:
Isn't God all forgiving? :eek: I hope so. :crying: .......:rolleyes:
Kickabuck
10-01-2009, 09:58 PM
.......:rolleyes:
Crow = SFMedic :biggrin: :yelrotflmao: :yelrotflmao: :yelrotflmao:
Seaview
10-01-2009, 09:58 PM
At the end of the line it becomes more of an issue...no problem.
On a serious note. What you appear to be saying here and please correct me if I am wrong - is that although one could lead a decent, blameless, life. Not deliberately hurt or offend anyone. Unless they have a spirituality from within them, there is a problem.
How can that be?
Seaview
10-01-2009, 10:00 PM
.................:nerd:
Kickabuck
10-01-2009, 10:01 PM
Wow, I thought he was saying there's going to be an RV soon :angel:
On a serious note. What you appear to be saying here and please correct me if I am wrong - is that although one could lead a decent, blameless, life. Not deliberately hurt or offend anyone. Unless they have a spirituality from within them, there is a problem.
How can that be? Most live out their lives...die..nothing wrong with that.:yes:
Seaview
10-01-2009, 10:09 PM
Most live out their lives...die..nothing wrong with that.:yes:
Thank you. I would have been a little happier if you had addressed my supposition. :sadsmile:
Kickabuck
10-01-2009, 10:15 PM
Thank you. I would have been a little happier if you had addressed my supposition. :sadsmile:
I think he's saying you're going to hell :devil: if you don't agree with him.
but, I could be wrong again...haven't been right with old crow yet :yelrotflmao:
Kickabuck
10-01-2009, 10:19 PM
Think I should create a poll to see if others think this thread has been hijacked? :bandit:
Thank you. I would have been a little happier if you had addressed my supposition. :sadsmile: It's OK, if a person is good, there is no problem.:yes: Every human...really every creature since time began has died, the process is down pat, so have no fear.:yes: But those that take advantage of people using the name of GOD, should be fearful...you will be met..not by an "angel"..
Think I should create a poll to see if others think this thread has been hijacked? :bandit: Oh, chill out nothing is happening.:rolleyes:
Seaview
10-01-2009, 10:33 PM
........ But those that take advantage of people using the name of GOD, should be fearful.....
Well, I can state with a clear conscience that I am absolutely not in that category. :happy: :whew: :giggle:
Who's going to tell Frank. :eek:
Seaview
10-01-2009, 10:35 PM
I think he's saying you're going to hell :devil: if you don't agree with him.
I thought so too. :devil:
DealOrBuyDinar
10-02-2009, 02:32 AM
This isn't a mystery. Warka is incompetent. It's self evident and has been for well, a number of years now. Adjust your expectations to what they've shown you can expect. They ain't gettin' any better.
More importantly, I think Kickabuck called it... :wink:
I think he's saying you're going to hell if you don't agree with him.
but, I could be wrong again...haven't been right with old crow yet
Kickabuck
10-02-2009, 02:47 AM
This isn't a mystery. Warka is incompetent and has been demonstrating their incompetence for years. I get same day replies from the broker I deal with in Baghdad, wires are always sent and received in a timely manner and the order executes when I tell them to execute it. Where did you guys find Warka anyway, off some internet forum? :giggle:
Your post chaps my a$$, Warka's stock price doesn't reflect your attitude, they are tops in the ISX. Warka is very responsive, just when was the last time you sent them an email? I can get a wire into my account in less than 24 hours. They have a phone...simply call. Warka is not only a great broker, they are an even better investment...you now have the floor, PLEASE tell me about a bank that will out perform them! (Economy doesn't count, we all know that too) Don't take offense DOBD, Warka rules.
DealOrBuyDinar
10-02-2009, 03:09 AM
Your post chaps my a$$, Warka's stock price doesn't reflect your attitude, they are tops in the ISX. Warka is very responsive, just when was the last time you sent them an email? I can get a wire into my account in less than 24 hours. They have a phone...simply call. Warka is not only a great broker, they are an even better investment...you now have the floor, PLEASE tell me about a bank that will out perform them! (Economy doesn't count, we all know that too) Don't take offense DOBD, Warka rules.
Yea, sorry about your chapped . Warka blows. Don't take offense. My experience with them and many, many threads on this forum reflect that over and over and over again. Guess I should have hit edit a bit faster. Although I do understand why your asking I decided I'm not about to share that information your asking for on an open forum.
Kickabuck
10-02-2009, 03:20 AM
Yea, sorry about your chapped . Warka blows. My experience with them and many, many threads on this forum reflect that. Guess I should have hit edit a bit faster. I decided I'm not about to share that information.
I respect your opinion, my chapped a$$ is better now, thanks for caring about it :yelrotflmao: I MUST have the swine flu, I've been pi$$ed off lately about everything. I do appologize for my harsh behavior, but I still like Warka as a broker and investment.
DealOrBuyDinar
10-02-2009, 03:26 AM
I respect your opinion, my chapped a$$ is better now, thanks for caring about it :yelrotflmao: I MUST have the swine flu, I've been pi$ off lately about everything. I do appologize for my harsh behavior, but I still like Warka as a broker and investment.
Hey no problem. I always use A&D myself. :happy: I really should learn not to post late at night when I can't sleep.
24mm exposed grid
10-02-2009, 12:15 PM
I have sold stock on two occasions, basically to test out the procedure, probably about 15 - 18 months ago. I sold some Warka stock and also some Baghdad Soft drinks, both quite heavily traded stocks.
On both occasions my orders were filled in full at the very next session and the proceeds added to my account within a couple of days. All very straightforward.
RoyalBeluga
10-02-2009, 12:25 PM
When the time comes to sell some of my stock (decades from now) I'll find out if I made the right choice or not - personally I'm not worried about it as there's NOTHING you can do either way! I guess I just hope Warka hold me in high esteem :nod:
War Eagle
10-02-2009, 12:25 PM
15-18 months ago I was getting orders executed the very next session-but NOT NOW!!!!!!!!!!!!!!!!!!!
RoyalBeluga
10-02-2009, 12:27 PM
15-18 months ago I was getting orders executed the very next session-but NOT NOW!!!!!!!!!!!!!!!!!!!
Have you tried other brokers? :thinking:
shardima
10-03-2009, 01:52 AM
I have sold stock on two occasions, basically to test out the procedure, probably about 15 - 18 months ago. I sold some Warka stock and also some Baghdad Soft drinks, both quite heavily traded stocks.
On both occasions my orders were filled in full at the very next session and the proceeds added to my account within a couple of days. All very straightforward.
I have never had a problem! orders are filled within days and I have sold shares and they have also been credited to my account within days. I have completed over 8o orders with no problems! Very easy!:giggle:
HumbleGenius
10-03-2009, 11:44 AM
I received the following after I asked Mr. I to provide me a status. (and yes I replaced my name)
I find this very hard to believe this is the case accross the board. They went into a new system like this?? If this was the case, How could any stock trade within 3 weeks of it going electronic??? (and they have traded almost the next session in a lot of cases) If it takes three weeks to set up a sell than a buyer would have had to wait that long to have a sell order to match.:smoke:
--------------------------------------------
Dear Mr. HumbleGenius,
Please note that your sell request will be submitted noting that the process for registering a sell order in the ISX system takes up to 3 weeks to be registered and this is an internal ISX procedure in which many brokerage firms have submitted complaints due to the lengthy period in registering shares for sale.
Best regards,
Mr. I
Deputy Managing Director
Senior Executive
International Affairs
--------------------------------------
Someone want to add their input on this?
I received the following after I asked Mr. I to provide me a status. (and yes I replaced my name)
I find this very hard to believe this is the case accross the board. They went into a new system like this?? If this was the case, How could any stock trade within 3 weeks of it going electronic??? (and they have traded almost the next session in a lot of cases) If it takes three weeks to set up a sell than a buyer would have had to wait that long to have a sell order to match.:smoke:
--------------------------------------------
Dear Mr. HumbleGenius,
Please note that your sell request will be submitted noting that the process for registering a sell order in the ISX system takes up to 3 weeks to be registered and this is an internal ISX procedure in which many brokerage firms have submitted complaints due to the lengthy period in registering shares for sale.
Best regards,
Mr. I
Deputy Managing Director
Senior Executive
International Affairs
--------------------------------------
Someone want to add their input on this? This is many times the case in "frontier" markets, it is just as hard selling as it is buying. Locked in periods are to expected on both the buy and sell sides. Just imagine if the market makes a big move, nothing you can do but watch.This is all just the way it is, nothing unusual.
HumbleGenius
10-03-2009, 08:45 PM
This is many times the case in "frontier" markets, it is just as hard selling as it is buying. Locked in periods are to expected on both the buy and sell sides. Just imagine if the market makes a big move, nothing you can do but watch.This is all just the way it is, nothing unusual.
Thanks Crow, just digging in a little here to take my knowledge to another level.
Wtih the assumption that you can not have a buyer with out a seller. How can a seller be available if it takes three weeks to process in the ISX yet we have seen companies come on the market for electronic trading and they trade with in a session or two? It seems to me that there is some other criteria (good ole boys) that jump in front.
It either takes up to 3 weeks to register a sell request or it doesn't. Rght now it seems like it does for some and not for others. I would like to know what the criteria is to trade sooner. Is it being an Iraqi? Is it being with a higher commissioned broker? etc.
Dont get me wrong. I am very pleased to have the position I have. I know I am lucky to be in now. I dont even mention it anymore to my 'regular' cohorts though. It is too late for them.
Either way, I would like to have more discussion on "Is there some other criteria (good ole boys) that jump in front even with electronic trading?' As long as I know the real answer then I dont care what it is. I just need the facts to move forward.
Thanks Crow, just digging in a little here to take my knowledge to another level.
Wtih the assumption that you can not have a buyer with out a seller. How can a seller be available if it takes three weeks to process in the ISX yet we have seen companies come on the market for electronic trading and they trade with in a session or two? It seems to me that there is some other criteria (good ole boys) that jump in front.
It either takes up to 3 weeks to register a sell request or it doesn't. Rght now it seems like it does for some and not for others. I would like to know what the criteria is to trade sooner. Is it being an Iraqi? Is it being with a higher commissioned broker? etc.
Dont get me wrong. I am very pleased to have the position I have. I know I am lucky to be in now. I dont even mention it anymore to my 'regular' cohorts though. It is too late for them.
Either way, I would like to have more discussion on "Is there some other criteria (good ole boys) that jump in front even with electronic trading?' As long as I know the real answer then I dont care what it is. I just need the facts to move forward. This whole situation is very complicated, if I tried to explain, I would most likely confuse everyone more then they are now.
HumbleGenius
10-03-2009, 09:05 PM
This whole situation is very complicated, if I tried to explain, I would most likely confuse everyone more then they are now.
Understood. Send me a PM so I can take my knowledge to the next level. This grasshopper would like to learn more.
24mm exposed grid
10-04-2009, 02:49 AM
HG,
I am a little confused here, I must admit, and do not pretend to fully understand it, but here are my thoughts
One of the advantages of e-trade is to speed up the buy & sell transactions. It should, under the e-trade system be possible to buy & sell the same stock in the same session (assuming you are preferably Iraqi and have direct access to the live market).
We know quite clearly that through Warka, this is certainly not possible. Therefore, obviously certain parties are at certain advantages, over us, that Warka as a broker are clearly neither equipped or willing as yet to deal with. I, much like you, do not really swallow this guff about 3 weeks to register a sell order, for the same reasons as you have outlined. Under the manual system sell orders went through next session in exactly the same manner as buy orders.
I was under the impression that a company could only commence e-trade when all of its outstanding shares were registered at the ISX depository. The only reason, I can think of for a three week wait is if your own shares as a foreign investor have not yet been registered. If this were to be the case, the problem is clearly only temporary. It may explain why some new companies are able to trade as soon as they come onto the exchange. Hopefully this problem is all just part of the ISX move to e-trade "teething troubles."
As Westerners, used to fully regulated, transparent markets, we probably find all this a little strange, perhaps even unfair, however we all know that this is Iraq's game and we must live by their rules. I have no doubt that over the next few years this game will be played on an increasingly level playing field, but for the moment I feel that we must accept our priviliged, early position in their game, play by their rules and either like it or lump it.
Just my own thoughts.
panhead
10-04-2009, 07:43 AM
This whole situation is very complicated, if I tried to explain, I would most likely confuse everyone more then they are now.
talk about an "Obama like" quote......LMAO!
RoyalBeluga
10-04-2009, 08:14 AM
talk about an "Obama like" quote......LMAO!
He's lovin' it :yelrotflmao:
chakkarchee
10-04-2009, 09:30 AM
[quote=24mm exposed grid;935869]HG,
I am a little confused here, I must admit, and do not pretend to fully understand it, but here are my thoughts
Correctly put this investing senerio in ISX HG, Also without quick buying /selling bigger foreign investment will not touch this market beside other concerns they have, seems like problem is ISX trading system and they need to fix this quickly after which we will know who is more efficient broker.
HumbleGenius
10-04-2009, 10:12 AM
Thanks 24 and Chak.
I have a couple other aspects to this i am checking out. I am registered and that may be part of the problem. If one is not registered, and is with Warka then Warka can or may be conducting their own little trading sessions internally as referenced in one of the first posts of this thread proxy to proxy (hence the 'no rush to register line that people have said Mr. I have told them).
Get this, I have been a registered trader since the beginning of this year and have received copies of the certificates etc from purchases I have made since then. I have not been sure what number is my official ISX registration number so I asked Mr. I to tell me my number. He responded that he would have his ISX department contact the ISX to find out what my number is and will forward it to my attention.
How has Warka been doing my registered electronic trading if they dont have my registration number as part of their records??
Just more things that make you go Hmmmmm.
(Please do not construe the above as anti Warka. I am still very much a Warka fan club member. I just like to know as many facts as I can and feel it is within reason to raise these issues)
War Eagle
10-04-2009, 04:17 PM
Has anybody (besides me) wondered why the ISX has separate transactions for the Iraqi's,and another for non-Iraqi's??????????????????????Could it be the natives are getting "first shot" in the market? Then,who gets the second "shot"-the large institutional investors (like Bill Burbank)???and just where does this leave us "small potatoes"-getting the "left-overs'-if any exists??????????And the pickings have been VERY slim,if at all!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Has anybody (besides me) wondered why the ISX has separate transactions for the Iraqi's,and another for non-Iraqi's??????????????????????Could it be the natives are getting "first shot" in the market? Then,who gets the second "shot"-the large institutional investors (like Bill Burbank)???and just where does this leave us "small potatoes"-getting the "left-overs'-if any exists??????????And the pickings have been VERY slim,if at all!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Small foreign investors are at the end of the line, but at least they are standing in the line, this is the first time I can remember.:yes:
HumbleGenius
10-04-2009, 06:35 PM
Small foreign investors are at the end of the line, but at least they are standing in the line, this is the first time I can remember.:yes:
I will gladly stand in the back of the line if I end up getting 40 years of iraqi entitlements out of this when its all done.:thinking:
RoyalBeluga
10-04-2009, 06:37 PM
Small foreign investors are at the end of the line, but at least they are standing in the line, this is the first time I can remember.:yes:
We're thankful for this opportunity that's been shown to us here, if it wasn't for stumbling across a dumb ebay listing for dinars I never would have known 1) what the heck dinars are and 2) the ISX opportunity
so yeah ..... whoever it was that first brought this ISX opportunity to light for us small-fry ..... Thanks! :yes:
RoyalBeluga
10-04-2009, 06:39 PM
I will gladly stand in the back of the line if I end up getting 40 years of iraqi entitlements out of this when its all done.:thinking:
What do you mean? I'm dumb about most things, genius at some, at this ...... dumb :drunk:
chakkarchee
10-07-2009, 10:29 AM
I have asked this question before but did not get reply that answers the question.
I have tried to sell 2 stocks via two different order through warka more than month ago to no avail, one was 100,000 shares of Bank of Baghdad and 2nd was Chemical and plastics for 100,000.
Can someone share their experience of selling stock and completing their sell order. I used warka sell format to complte my order. I am wondering if the order was too big to fill or there is any particular way to complte a sell order. Thanks
One of my sell order for chemical and plastic is completed by Warka today and updated in my Warka account, time it took is one month to settle, but I am feeling better and confident in Warka as things may be slow but are getting done gradually.
Has anybody (besides me) wondered why the ISX has separate transactions for the Iraqi's,and another for non-Iraqi's??????????????????????Could it be the natives are getting "first shot" in the market? Then,who gets the second "shot"-the large institutional investors (like Bill Burbank)???and just where does this leave us "small potatoes"-getting the "left-overs'-if any exists??????????And the pickings have been VERY slim,if at all!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hmmm, I wonder if those still using proxy services would run into such a scenario. I haven't had the need to sell any stock (I'll hold) as I'll just see whatever comes of it. Most of my focus has been heavily shifted into the Forex market for over 1.8 years now and I no longer worry much about the ISX/IQD. If it works out great but if it doesn't, then it just wasn't meant to be...
Kickabuck
10-27-2009, 06:31 PM
One of my sell order for chemical and plastic is completed by Warka today and updated in my Warka account, time it took is one month to settle, but I am feeling better and confident in Warka as things may be slow but are getting done gradually.
If your sale was for Modern Chemical Industries, that's a rare bird, hardly ever trades. If you sold Chemical Industries, which I think is the case...why are you selling this one? It's up 50% since June, and I believe we have very goods odds of it going out for paid in/free shares within 30 days.
chakkarchee
10-27-2009, 07:42 PM
If your sale was for Modern Chemical Industries, that's a rare bird, hardly ever trades. If you sold Chemical Industries, which I think is the case...why are you selling this one? It's up 50% since June, and I believe we have very goods odds of it going out for paid in/free shares within 30 days.
I actually made a mistake in selling this one, My sell orders were not going through and just for the hell of it I put this one in too, and it was the first one to go, I will never do that again. this seems to be a very good one I bought it ofr 1.6 iqd so I made close to 300% on it.
D.Liarf
12-03-2009, 03:16 AM
I have inherited 1/3 of a property in Spain that includes land. The other 2 owners that control a 2/3 ownership do not want to sell. Do I have any options?
manwithnoname
12-03-2009, 03:39 AM
Ask them to buy you out would be the obvious answer. Perhaps you would do better moving this to the correct portal
MWNN
24mm exposed grid
12-03-2009, 04:02 AM
I have inherited 1/3 of a property in Spain that includes land. The other 2 owners that control a 2/3 ownership do not want to sell. Do I have any options?
Go live in 1/3 of your place in Spain, get a nice suntan and have an easy life. :rock:
Powered by vBulletin® Version 4.2.0 Copyright © 2013 vBulletin Solutions, Inc. All rights reserved.