Is it possible to daytade with a standard CommSEC account, units of shares worth more than is in the cash account, assuming you sell before closing? No margin lending or CFD's.
Say $5k is in the account.
I buy $10k worth of shares at $1 per unit.
Sell shortly later at $1.01 shares a unit.
1% increase is transacted to cash. $10k is neither taken or given from the cash account.
Further, if there were a 1% loss, would only %1 would be taken from the account at the end of the day? Equaling a $100 loss.