Do you trade shares? (1 Viewer)

[seremify007]

Re: higher return than stockmarket?

i'm not 100% sure about your theory on outlay seremify, i work at a discount broker and all transactions (regardless of whether you buy and then sell before settlement, or on the same day) get credited and debited as separate transactions, hence you will get fail fee + have to find some way to have funds to match the cost of your buy.

&yeah uni pretty useless when it comes to making money on market

Sorry missed this post before but I assure you that Commsec allows T+3 settlement and net settlement if the trades occur within 1 day. This means if you close the position within a day you're sweet, but any more than that and you better ensure you have sufficient liquidity either through online savings accounts or a LOC to cover yourself before the T+3 kicks in.

Anyway I've since moved on from Commsec but am now looking to move to HSBC Premier E-trade since the Bell interface is not confidence inspiring, and I miss Commsec's speed and general usability. Pity the trading costs were so damn high.

If you're only about 5k then try e-trade?

I'm significantly more than $5k per trade

 

[seremify007]

I should clarify Bell Direct requires you to deposit funds into their trust account and hence the net settlement thing doesn't really work here since they debit your account immediately, and don't pay much interest either.

 

[Garygaz]

I should clarify Bell Direct requires you to deposit funds into their trust account and hence the net settlement thing doesn't really work here since they debit your account immediately, and don't pay much interest either.

ahk, yeh at our broker you can have the funds in any australian bank account, hence the seperate debits/credits.

though we have had a few problems in the past, with people taking positions and not having the cash to cover them, yet we had no idea (because we couldn't see their balance). if i was running a broker i'd prefer for all my clients to have cash in cleared accounts.

 

[seremify007]

I guess that's just a business risk. Luckily it's essentially a secured loan whilst waiting for securities to be delivered and cash to be received so its less risky.

 

[SylviaB]

Anyone know any good sites like www.investopedia.com so I can learn how to trade?

http://www.new2shares.com.au/

also intelligentinvestor.com.au

its super expensive, but theres a lot of free stuff available, and you can sign up for a trial and get heaps of free information

 

[seremify007]

Hmm I still haven't closed my Bell account yet. Really should as I don't like trading on their horrible interface/platform. I'll look around but more likely than not will end up with HSBC e-trade.

 

[Omnipotence]

Yep, on the ASX game. =)