PZ.
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You should be able to trade the same stock as often as you like without penalty.
Quite the opposite - your broker will love the extra fees. I get free use of the CMC platform if I do more than 10 trades a month with ANZ.
Quite the opposite - your broker will love the extra fees. I get free use of the CMC platform if I do more than 10 trades a month with ANZ.
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As per PZ99.
However, a side issue you may encounter is your broker applying ASX trading rules.
This may result in orders going manual to be "reviewed" by your broker...(some muppet has to click ok on your order after they have finished their jokes and water cooler gossip with muppet colleagues...
), orders not being accepted- rejected by "market integrity rules".
The above will occur if changing order price or volumes (order amendments) too frequently without allowing an unspecified period of time... over 10 minutes seems to bypass this, or be sure of the trade knowing that you can change it once, quickly!
I would imagine, there may be some brokers that have more relaxed rules enforcement, from the crap I see in a daily basis...
Good luck with your apparent high risk thinking...
However, a side issue you may encounter is your broker applying ASX trading rules.
This may result in orders going manual to be "reviewed" by your broker...(some muppet has to click ok on your order after they have finished their jokes and water cooler gossip with muppet colleagues...
), orders not being accepted- rejected by "market integrity rules".The above will occur if changing order price or volumes (order amendments) too frequently without allowing an unspecified period of time... over 10 minutes seems to bypass this, or be sure of the trade knowing that you can change it once, quickly!
I would imagine, there may be some brokers that have more relaxed rules enforcement, from the crap I see in a daily basis...
Good luck with your apparent high risk thinking...
Im just wondering is platforms like commsec apply ASX trading rules, i should just probably call them to find out. CheersAs per PZ99.
However, a side issue you may encounter is your broker applying ASX trading rules.
This may result in orders going manual to be "reviewed" by your broker...(some muppet has to click ok on your order after they have finished their jokes and water cooler gossip with muppet colleagues...
The above will occur if changing order price or volumes (order amendments) too frequently without allowing an unspecified period of time... over 10 minutes seems to bypass this, or be sure of the trade knowing that you can change it once, quickly!
I would imagine, there may be some brokers that have more relaxed rules enforcement, from the crap I see in a daily basis...
Good luck with your apparent high risk thinking...
Thank you, i much prefer this forum apposed to the commsec website where all my answers were dont do it which was not very helpful.
PZ.
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You're welcome
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Honestly, the ASX rules seem to be a bit of a mystery.
No doubt, the rules are easily obtainable but whether they are a little open and subject to different interpretations by brokers, I couldn't say.
But, the "rules" or a broker's interpretation of them, that are programmed in the platform software, it's also a mystery!
If you find a broker who isn't applying the rules, they won't be around long.
Any reputable broker will apply the rules. Pointless trying to find one that doesn't, as it would be YOU that's breaking the rules, with the broker facilitating.
No doubt, the rules are easily obtainable but whether they are a little open and subject to different interpretations by brokers, I couldn't say.
But, the "rules" or a broker's interpretation of them, that are programmed in the platform software, it's also a mystery!
If you find a broker who isn't applying the rules, they won't be around long.
Any reputable broker will apply the rules. Pointless trying to find one that doesn't, as it would be YOU that's breaking the rules, with the broker facilitating.
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Hi Matrats
I think one rule breaking order most brokers will veto is placing a buy and sell at the top of the order book so effectively you're buying /selling to yourself, possible with an illiquid stock, good luck trying to do that with a major.
That aside you can buy and sell that same stock all day long, look for a broker that's cheap and will tally up your commission at the end of the day instead of charging you multiple minimums.
I think one rule breaking order most brokers will veto is placing a buy and sell at the top of the order book so effectively you're buying /selling to yourself, possible with an illiquid stock, good luck trying to do that with a major.
That aside you can buy and sell that same stock all day long, look for a broker that's cheap and will tally up your commission at the end of the day instead of charging you multiple minimums.
