game on, page-60

"With T+3 trading I have three days before I have to pay for my trades, -- but the sells [as long as they are within that time frame] cancel the buys and I have nothing to pay."

Who do you trade with?


Commsec T+3 :

1. Buy shares and then (must) sell shares on the same day or the next trading day (NOT within 3 days).

2. Sell shares and then buy shares on the same day or the next two trading days.

"Settlement" is the 3rd trading day. That doesn't mean you can buy and then sell the shares on the 3rd day or the 2nd day (T+2).

If you bought shares and sold on the 2nd trading day, you would have to have cleared funds in your account. The sell on the 2nd day WON'T be offset against your buy. That is come up with the cash on the morning of the 3rd day.

Also have you calculated the effect of brokerage and loss T+3 trades? Unless of course you are the perfect trader and wins on every trade.

At $29.95 a trade you pay $239.60 brokerage for $755.52 worth of shares.

Seems like hard work and high risk to me, but each to their own.