No. That is not normal. I can buy, sell, buy, sell the same 50k...

No. That is not normal. I can buy, sell, buy, sell the same 50k as many times in the day as I like - I just can't buy, buy the one 50k (obviously), although actually I can but it switches into a margin loan secured against the rest of my portfolio if I overspend. In fact if I buy one day, then sell the next what hits my account in two days time is the difference, same in reverse. In other words the transactions are netted off within the original settlement period. I use westpac and iresstrader for the live trading - no trading delay.