Thanks Acca. But but does the trader can register as an individual on TFN or has to have an ABN. I know it's a silly question and I believe he/she should have an ABN but just re-confirming. Good to get some knowledge. Who knows though now a days we making money, stock market can throw you out anywhere and we will have to start claiming losses
.
BTW Fib - Great story.
Commsec has also blocked my account and my wife's account for the same reason. She doesn't know, why the hell i even opened commsec account for her
. Her account went on 8K loss (of course she doesn't know about it) and I managed to settled with commesc $200/month installment.
Not just that, I have lost all my saving of 60K in just 8 months of investment/trading (Probably wrong time of GFC ) and lost another 40-50K borrowed money plus savings of further 8-10 months. Initially, I just believed in FA and though stock was going down I was fool enough to keep the hope alive. But finally realized that accepting mistakes, cutting losses and more importantly learning about TA to back my FA will only help me to win in this race. Also, funny enough that my first trading plan and Trading dairy was created when I had no money to trade/invest. Thanks to my full time job that made me save small capital in few months and started from 6K thereafter. Slowly built portfolio and moved larger capital mostly towards short- medium term, little for long term and only 15% for day trading. When my capital reduces for DT, I only move part of profit made from small-medium term. I do also take some money off the table (every single month) from my invest/trading account and put into savings. That's reward of my hard work and security that even if I lose all my DT capital and investment, I will have some money in the bank to start up again rather borrowing from others.
Just Over 3 years of short career in investment/trading (1.5 year in loss and over a year in winning); All I can say, one needs lot of research, hard work and study (FA & TA) to take wise decision on buying/selling shares along with Trading dairy with lesson learnt on each win/loss. Slow and steady wins the RACE. There is no short cut in any business and that applied to investment/trading too (You will either get caught or get burn).
Cheers
J
