The ins and outs of day trading in the ASX

I’m curious to know the ins and outs of day trading in the ASX. Is it profitable or cost effective? I’ve been living and trading in the US and been day trading as of recent over there, but due to the time difference I was thinking of trying my hand at it here in Australia. How reasonable is that plan? I’m attempting to learn what I can, but it appears there is a decent commissions and cost per trade that may make day trading less profitable due to fees. Would love some more thoughts on this.

A: Day trading on the ASX is hard work. While there are some successful day traders, in my experience, the vast majority of “enthusiastic amateurs” will over the medium term lose money. You are competing with professionals with very sophisticated computer models. .

Talk to brokers like CMC to negotiate a really competitive brokerage rate. You will need a trading package from IRESS or other software providers.


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