To all those traders

[Kobsy]

To all those traders,

If i brought shares today and do not want the transaction to occur in my bank acc, when would i need to sell in regards to the trade+3 days. Comsec is my broker

 

[malachii]

By close of business tomorrow. I do this semi frequently with daytrades and overnight trades with Comsec.

malachii

 

[Kobsy]

thanks a bunch malachii

 

[korrupt_1]

So in theory, you could, say buy $100,000 of stock XYZ at $1.00. Wait for it to go up say, $0.10.... ie 10%, you could close it at $1.10 and realise a capital gain of $10,000... and if done within 24hrs, you would never need to have $100,000 in your bank account?

 

[Kobsy]

that's correct. but there can be traps ie trading halt

dyor

 

[mshepherd]

Ill let you try that one out first although post your results, it would be interesting if it works, or if you file for bankruptcy the concept is the same as going long with CFD's, you are using leverage to be exposed to a greater return if the price increases, also you would be in trouble if things didnt go your way. - maybe for piece of mind you could utilise the guanteed stop loss some CFD providers provide, your initial amount could be more protected from the the possibility not being able to sell at a reasonable level. leverage will leverage losses also. How confident can you ever be with $100k on loan. - I know id be too hesitant to click buy. But if you do let us all know how you go

 

[korrupt_1]

blhahaha.. you trying to be funny? NO WAY IN HELL WOULD I TRADE $100,000 AND NOT BE ABLE TO BACK IT UP!!!!

Russian Roulette with an semi-automatic pistol if u ask me!!

 

[SGB]

If that's your trading strategy to become a successful trader then there's only one word for it.
FOOLISH

 

[Whiskers]

So in theory, you could, say buy $100,000 of stock XYZ at $1.00. Wait for it to go up say, $0.10.... ie 10%, you could close it at $1.10 and realise a capital gain of $10,000... and if done within 24hrs, you would never need to have $100,000 in your bank account?

You might get away with that placing a phone order, but if you are using a net trading platform, don't you have to have the funds there before you can even place an order let alone buy?

 

[El Usuar]

I use an external account for settlement in and out of Comsec. Higher brokerage ($60 rather than $40 - <$10k (both sides)) but when I do wish to day or overnight trade with pseudo funds (like today) there are no questions asked. Not talking about $100,000 at a time though and it's only an occasional habit. Prefer to use real money (if there is such a thing).

 

[nioka]

So in theory, you could, say buy $100,000 of stock XYZ at $1.00. Wait for it to go up say, $0.10.... ie 10%, you could close it at $1.10 and realise a capital gain of $10,000... and if done within 24hrs, you would never need to have $100,000 in your bank account?

And in practice if it went down the 10% you would get a bill for $10,000 and you'd need to have that in your bank account.

 

[wildkactus]

isn't this the same as the old pit traders (before electronic trading), they traded intra day with large amounts that they didn't have and just settled the difference at the end of the day.
I think from reading some where this is how the likes of Richard Dennis made a forture quickly, plus he was good at tape reading.