Hi JPGuru,
I don't have any hard and fast rules. Just have been fortunate enough to free up some cash to have about $150-$200k in the trading account for trading. Don't have any rules with regards to how much of trading capital can be tied up in a trade or cash - just what I see as working at any point in time - and trying hard to learn from past mistakes and not let any trades become 'investments'. I still am doing some consultancy work - so that assists with family living expenses etc. Recent trading profits have started to be distributed as taxable income.
With trading platforms - I just keep it simple. Have used ANZ for nearly 30 years - and haven't been bothered to investigate alternative options.
I have access to the 'pro platform' but don't even use that. Just the bare basic services. I would like to investigate how to get access to broker data though. Think this would be a benefit at times.
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- Day traders' weekend lounge March 25 - 27
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