While I sympathize with Nanood's characterization of short term trading as gambling, it does have a small place in any trading strategy. I keep a small (5-10%) of capital aside for short term trading. In my case I periodically go buying dividends. By strategically picking stocks and being sure to hold for at least 45 complete days to satisfy the imputation requirements, I can ensure I receive 3 to 5 dividends for one parcel of money compared to the 2 which would be paid by simply holding a stock. Yes there are extra costs but on the whole I find I can trade to be capital neutral or small profit after expenses, which are fully taxed, no 50% discount. Others get in to day trading as another way of making short term money.
The big thing is to study and become comfortable with an approach that you are happy with. Then use a small amount of your money to implement your selected method. Keeping it small means you can cope if things go pear shapped. In buying dividends for example, I have been caught out by a company not declaring a dividend, ouch! You don't lose everything but it hurts as their is a capital loss.
Lastly you do need data and information. While much of this can be obtained directly, it does require you to do a lot of homework. It can be worth subscribing to one or more of the information providers over and above your stock broker. Again they come in different price ranges and have different underlying strategies. You need to look at them,get some level of understanding of their methodologies and most importantly talk to others to get their feedback. Then you can try one or more of them that you feel is a fit to your strategy and investing philosophy.
In the end it is your money. You have to be comfortable with how you are using it to provide (hopefully) a nice retirement nest egg. While super has tax advantages it isn't the only savings methodology and until you reach retirement age and can access your super funds you always need an amount of savings/investment outside super to cover those unexpected expenses or to fund your extended holidays.
