Hey Guys. I am fairly new to buying stocks. I have a few long term investments, but I want to be able to learn how to day trade.
There is this stock that I’ve been looking at for a while.It shows the volume of buyers and sellers at particular prices.
Assume you have NO money in the bank. Stock price is currently at 0.3c . 3million shares will be bought at 0.295c and 500,000 shares will be sold at 0.305c. The way commsec works, you have to have the money in the bank account 3 days after you buy shares. So let’s say you make a super large order when the prices of the stock reaches 0.295, and make another order simultaneously to sell when the price reaches 0.305 and keep the profit.
So If I make 2 orders, buying $1,000,000 of worth of stock at 0.295 and selling at 0.305. I just made $34,000 profit without using my own money. Since the shares are given to you 3 days before the money is taken out of your bank account. So if you sell before that time period, there is no problem. And given the volume of buyers already outweighing the people that are selling, there will be no doubt it will reach 0.305… right??
I’m new.. don’t flame me.
But can’t you just do that?
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