I wonder what kind of balance you need to day trader to the stock market in Australia and earn $ 100 – $ 500 per day.
On October 1, 2009, In australian stock market, by admin
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If you mean buying and selling on the same day there’s not many stocks that are good for that. Maybe RIO, BHP and the major 4 banks. You would also be paying higher brokerage because you would need a larger investment to make that kind of money in a short space of time.
To answer your question, if you bought RIO TINTO today at 46.20 and sold at 46.45 then:
Sell 46.45 – Buy 46.20 = 25c profit per share
$100/0.25 = 400 shares = $18580 total value
$500/0.25 = 2000 shares = $92900 total value
The real problem is you’ll be paying higher brokerage which will eat into your profits and as a day trader you’ll be paying it more often than a person who buys and holds to weekly or monthly trends.
The best method in the ASX is to look through the ASX 200 for weekly and occasionally monthly trends that are only just forming.