Direct Broking question

[dragonz]

OK this is probaly a stupid question but how can I trade an index? For example I want to buy S&P/ASX All Ords (Gold) [XGD]. Can I do this through direct broking. ?

[money maker]

Having a look into Aussie ETF's would be a good start

[wbosher]

Isn't investing in an ETF just giving your money to someone else to manage? If that's true, aren't you just lining their pocket?

Kinda takes the fun out of it.

[dragonz]

Having a look into Aussie ETF's would be a good start

Thanks moneymaker

[money maker]

Isn't investing in an ETF just giving your money to someone else to manage? If that's true, aren't you just lining their pocket?

Kinda takes the fun out of it.

Yes it is but not as much as anctively managed portfolio or mutual fund. In saying you do have to keep in mind that someone whether it be you, me, fund managers etc has to manage the portfolio/fund

[wbosher]

In saying you do have to keep in mind that someone whether it be you, me, fund managers etc has to manage the portfolio/fund

I would much rather that it be me, at least that way if things go bad, you've got no one else to blame but yourself. I'd prefer to take responsibility for my own money rather than hand someone else the reins.

Of course that's just my personal opinion.

[bob.not.a.builder]

Is is alright to sell a share before settlement? Like a single day between buy and sell? Im guessing its ok so long has the money is there in the bank.

[Ponda]

Bob,
I use the National Bank Share and Bond Trading online service and I am often selling shares on the same day as I get my buy order filled.

So when you ask "Like a single day between buy and sell?" I am doing it minutes after the buy.
As soon as I see my order go through I am placing a sell order.
I use an odd number of shares, i,e 10,127 shares, so I am pretty confident that when a sale goes through at 10,127 it is probably mine. It gets a bit tricky when it is made up of 2 or 3 trades. but the completed trades show up on my 'completed trades' screen.

Hope that helps.
Have a good weekend

[Ponda]

Bob,
Further thoughts on this: you say "Im guessing its ok so long has the money is there in the bank."
That only becomes an issue when you buy, not when you sell.