lindfield, only just getting back to thread, but MANY online brokers let you place a buy with money you don't have. Commsec for example usually let you trade up to half the value of your portfolio without paying up front for the buy.
If someone loses out buy a LOT on that buy, they must settle the difference,(in 3 days with most, or 1 day with some like WEstpac if you don't have a direct debit set up) and if they don't have the cash, they need to sell other stock to settle.
As it's SO dangerous, I changed to Bell Direct, where you can ONLY trade if the cash in in your account FIRST.....much better for people with addictive personalities!
Anyway - BML looks set to tango........
nerves of steel, page-35
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