Short Story, page-224

IMO both @Just_a_guy & @thundehead1 are both correct but speaking of two different things.

An example of a Wash Trade is someone buying a companies shares through one broker while at the same time selling the same companies shares through another broker. This is market manipulation & illegal however rarely it may be policed.

On the other hand a Wash Sale is selling a companies shares at a loss with the intent to claim a tax loss while then repurchasing those shares within 30 days. As far as the ATO is concerned it is illegal to then claim said loss at tax time. In respect of market regulations there's nothing stopping you realising a loss & repurchasing within a certain timeframe.

All IMO & not advice.