Hey, i'm new to the scene and looking at starting day trading over the next few months.
Background: I'm 17, doing the HSC and hold about $5000 in Citigold (CTO) shares at the moment. I'm a a good learner and good with numbers, charting etc. I know about technical & fundamental analysis, trading plans and the psychology needed to be a successful trader. Yes, I no only about 10% of traders actually gain, but I feel the earlier I start the better I will be in the long run (providing I play my cards right).
Anyways, I have done a lot of research but have not been able to work out if it is possible to make more than one trade per day, with the same funds (due to the t+3 rule). Eg. I have $10k in an account. I buy $9,000 worth of shares, leaving $970 in the account (factoring brokerage). Can I then sell them 1 hour later? And can I also use a remaining $500 in the account to buy more shares in the same day?
I was also wondering if anyone can recommend any particular software that provides live data feeds for the ASX.
It would be great if someone could explain these to me. Thanks!