I don't understand how the T+3 traders work because as I understand it if you bought on Monday your broker would demand the money for that purchase on thursday night. Then if you sell on Day 3(wednesday)your broker still won't recieve money until the trade is settled in 3 more business days which would be Monday night therefore that would total 6 business days before you could pay for your purchase on Monday which is a breach of the terms of your broker and they would close your account.
I know this because commsec closed my account when I did this many years ago when I just began trading/investing. They ended up re-opening the account later though due to leniency.
day 3 .. place your bets, page-21
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Change
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Mkt cap ! $29.74M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.1¢ | $8.25K | 750.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1486313 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 2153249 | 5 |
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