Vlad, very good points you make. On the surface it does look...

Vlad, very good points you make. On the surface it does look discouraging.

But:-

CGT: If you are paying it, it means you have made a profit :) The more you pay, the more profit you've made.

50% discount for >12 months. Doesn't enter my thinking. Several quick profits will outweigh any tax saving

Brokerage: An important consideration. Being a frequent trader on line with Comsec and an investment account I get cheaper rates.

Stay out of margin lending.

I do few day trades (enter and exit same day with no overhang into next day) and will keep a position open for days, weeks months if need be.

Don't trade shares you aren't familiar with. Learn their patterns and exploit it. If you are stuck with a trade that's gone wrong, have confidence that it's not a dog and therefore will rebound, or cut losses, sell for an offsetting tax loss and put the money into a better one.

Use software packages to keep track of trades and CGT because it gets very very complicated.

Hope this helps, but be careful out there. ;)