Okay......So I read the three foolish books,I got rid of my credit card debt,I got together some cash to invest,I paper traded for the last 4 months ( I 'bought' what I am),Now I want to... DO IT !!!!My remaining simple question is ..... HOW?????How do I get the attention of one of those delightful deep discounters to let me open an account?I have e-mailed lots , but to very little response.Are there any Australian Fools who can help ??Do you have any tips?I will be eternally grateful to any respondee who can show me the way.
Hi there!Yes, I agree that implementation is the most difficult bit...Consider the following. Try to find brockers who will allow to fill out a form on-line, print it out and mail to them. I think that Suretrade is among them E-trade?).I am with Datek (very good execution speed + features) but it took some time before they sent me paperwork.Also, figure out tax issues (I can not help you there). Good luckM.K.
I concur with 'kolosom1' on Datel or Etrade. On the tax issues side, please ensure that you keep all data in regard to the trades that you do. Remember the principles that capital losses only offset capital gains, the reduction in the rate of tax applied to CGT is a gd move forward as it has dropped by 50% from Oct 1, this year, it bodes well for the future (*). As the ATO only taxes on realisation of assets then this is the area that you should concentrate on. If it is long term buy and hold then put the pprs in a safe place and await realisation. (*) mind you I would have loved indexation to stay!
I use Suretrade and I haven't had any problems with them so far. My limit orders even get executed at a better price quite regularly. There is probably an ad just next to the message to click on. Fill out the application plus two more forms for the taxes. In the FAQ you can find out which forms.good luck!
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