Buying and selling shares intraday

[Nathan_b]

Hey Guys quick question, I have only bought shares up till now, and I was thinking of doing a quick trade on something that I can flip quickly, I was wondering... if I was to buy something for $1.00 and I buy through stgeorge (etrade) at 10am for example, and wish to sell for $1.10 at 11am. is this possible to exchange so quickly?

thanks.

 

[doctorj]

Re: Buy and Selling Shares.

Should be able to sell at any point immediately after your buy order is filled. There's no such thing as a free lunch - make sure you know what you're doing.

 

[questionall_42]

Practically, there is no probs with what you are suggesting.

And if you could, perhaps, let us all know of your plans to make 10% in 1 hour, I would love to be a part of that.

 

[nioka]

Hey Guys quick question, I have only bought shares up till now, and I was thinking of doing a quick trade on something that I can flip quickly, I was wondering... if I was to buy something for $1.00 and I buy through stgeorge (etrade) at 10am for example, and wish to sell for $1.10 at 11am. is this possible to exchange so quickly?

thanks.

Sometimes looking at the buy & sell quotes it can look as though that would be easy to do but take into account your place in the queue and it may not be as easy to get fixed at the prices you are looking at. Remember that the price you buy at may also end up to be the top for the day or even for the year. Best of luck but fortune doesn't always favour the brave. If it was easy everyone would be doing it.

 

[It's Snake Pliskin]

Contextualising the trade is paramount.
Most don't have the mental ballsacks to take on this style of trading. Mine is still growing.

Profits are not easy. Don't look for the easy way that most have thought of already.

 

[Da Cat]

hi nathan b
i trade with commsec and actually got burnt doing this the first time i tried. i could buy the shares okay, but found that in order to sell them i required a Share Registry Number (SRN). this number wouldn't be issued to me until the transaction had been finalised with the share registry - at least 3 days later.
in order to do quick trades (with commsec at least) you need a CDIA (direct investment account) as well as CHESS sponsorship thus negating the requirement for you to have a SRN when you sell. i don't know what the deal is with eTrade, but that is what happens with commsec. might be worth a quick call to an eTrade consultant to verify your position. i wish i had! i bought just after a good announcement to try and ride the rise, then went to sell but found i couldn't until the following week, by which time the sp had dropped considerably! good lesson that one!

 

[Captain]

If I could chip in here to correct a small error. With comsec to get immediate buys and sells you need to nominate them as your CHESS sponsor. The CDIA isn't a necessity. Having a CDIA means you get their cheapest brokerage, but trading and using another bank account doesn't change the way trades occur, just the cost of brokerage (about $9-10 less).

 

[Prem]

Most don't have the mental ballsacks to take on this style of trading. Mine is still growing.
.

OK!