Distributor Information - US, page-48

You know it is illegal to put buy orders in the market without the intention of buying.

How do I know? I had a commsec account terminated (on advice from ASIC) because I traded a share. I always had buy and sell positions in the market. As the share price oscillated I made a lot of money. I would buy at 10 cents, then sell at 11 cents, then buy at 10 cents again, and sell at 11 cents. I did this on one thinly traded share for 1 year. I told a friend of mine at a Chrissy Party (he worked for commsec) that it was a good trading share for me. My account was cancelled the next day and the ASIC rules were told to me.

Mine was funny because I always intended to buy (and I did!). And I always intended to sell when I had an order in (and I did!). So I was not shonky. And sadly shonky wins all the time. Retailers trying to buy in and out of shares are caned here in the shonky ASX. ASX / ASIC / boards / sophs are just a wild west of shonkies.