Whether you’re looking to learn to trade shares, indices, forex or crypto*, this article provides a foundation for understanding the opportunities available for day traders in Australia. The Investors Centre also covers key considerations when choosing a broker and identifying trading strategies.

The first step in developing a day trading strategy is to consider your goals. These may be to supplement your income, build a savings account or grow your capital at a faster rate than you could achieve with a bank deposit. It’s important to be clear on your objectives as this will help you set realistic expectations.

Australian Day Trading Explained: Tools & Tactics

It’s also a good idea to establish a daily routine for trading, to ensure consistency and focus. Many successful day traders dedicate specific time each day to analysing markets, placing trades and reviewing their performance. This can be difficult for those with other commitments, but it’s possible to find a balance between trading and everyday life.

Australians looking to trade equities should choose an online broker with access to the ASX. This will allow them to trade the full range of public companies in the country, including popular resources, banking and technology firms. Traders who prefer to access global stock markets should look for brokers that offer CFD and forex trading, with options to trade US and European equities too. Australians trading CFDs and forex will be required to pay tax on their profits, in line with other financial products. This includes a 2% Medicare levy that helps fund Australia’s healthcare system.