- Joined
- 7 September 2009
- Posts
- 272
- Reactions
- 3
That's the issue. Commsec will let you buy a lot of shares with a zero balance, but make sure you can pony up the money if your stock goes into a halt over the T+3 period - or never comes back at all. Don't lose your house...
Remember: you need to plan on doing this trading stuff for a long time. Over a long time, pretty much everything will happen, and that includes holding the bag when a company goes down. Bank on it. Assume it'll happen some day - and maybe on your next trade. Never be in a position where that'll wipe you out.
But more generally: Do you need enough funds to cover your buy order?
Of course not! Welcome to the wonderful world of margin, which is usually more available or cheaper for day trading than for overnight. Just don't go near it until you know what you're doing. And if you're asking this quesiton, you don't.
: 
