Hi traders and traders alike, I'd like to start off by saying that likely some of the questions I am about to ask are going to have you going "oh here we go again" or banging your head against your desk but bare with me
So trading has interested me alot, and at present I have been building up a small introduction fund to get myself started.
I have been on a practice account on investopia for the past few months (likely not the best to learn on being an overseas account). Ive learnt alot i feel in terms of personal learning, but i have neglected to learn the basics.
I have been trading in both stocks and forex. Forex trading for me is exciting but very very unpredictable and something I feel could easily scare me away from trading. I have also been trading stocks, my interest has been with sub $5 stocks, watching them spike and drop.
Now im looking to learn more, learn the technical side of things, and where to start in terms of opening a trading account and along with that what is available to us Australians and ofcourse would love some input on recommendations on what is a recommended place to start in australia again all of which i would really like input from you guys with.
I have been enjoying swing trading and its something I would like to continue, though I have read that to be able to swing trade with an account you need a starting capital of $25k, is this correct and can you start with less?
Another thing that i never considered is as an australian trader, how do things proceed interms of paying tax on any profits made, do you need an ABN or anything like that? do you pay tax on money that you have circulating amongst trades?
So thats about it for my first post, basically just looking where to start, maybe some suggested readings, is the type of trading I have been doing available to australians? I plan on trading quiet a few hours a day, like alot it would be great to call this a career down the line along with other investments I have interest in. To me I am just looking at making a dream come true and making a living of something I can enjoy in the future anyway that is.
Thankyou all for taking the time to read this post and i hope to hear back soon.