Newbie needs info, thanks!

[kingfisher]

Hi folks,

Thinking of trading in ASX market, what sort of info do I need to begin trading in the market? Am looking for some good online trading sites as well.

Cheers,
KF

 

[Sean K]

Have you traded at all Kingfisher?

Maybe you should start with a full service broker until you have a handle on things?

Or, open an account with Comsec or ETrade and jump in with some small trades till you get the hang of it. Opening an account with these providers is pretty easy. You can do it all on line just about. You just need some spare cash to put into a trading account, and you're away.

Good luck.

 

[kingfisher]

Have you traded at all Kingfisher?

Maybe you should start with a full service broker until you have a handle on things?

Or, open an account with Comsec or ETrade and jump in with some small trades till you get the hang of it. Opening an account with these providers is pretty easy. You can do it all on line just about. You just need some spare cash to put into a trading account, and you're away.

Good luck.

Thks kennas, let me checkout e-trade.

 

[Sean K]

Thks kennas, let me checkout e-trade.

I use E Trade, but if you look through the 'whats wrong with e trade' thread you might not be so keen......Another option is nab.

 

[sleeper88]

comsec is the most popular online broker

 

[scsl]

If the value of your trades are small (eg $500 - $2,000), it's worthwhile opening an account with netwealth Share Trading. Their minimum brokerage is $17.99 (per trade for transactions up to $5,000). Remember that brokerage eats away at your profits, particularly with small transactions.

I used to trade using Comsec, but all my trades are now done through netwealth.

 

[coyotte]

If your new at trading forget all the above ( apologies to the previous posters )

Join IG Markets --(no min trade - no min balance - $1 per $1000 brokerage )

1: BUY and READ/COMPREHEND Guppy's " Share Trading "


2: Join "Guppy's Trader's" newsletter -- $20 a month --- have done the rounds and keep coming back to this service --- Guppy has over a 10 year PROVEN track record --- you will find he is Knocked the hell out of on this site , but his public track record IMO proves the point and he is the top public trader in the Australasia Region .


3: If your more inclined to follow the Gurus on this site , then join Nick Radge's Service ($55 a month ) good value .

4: The main points are if new to trading.

1: Keep your overheads down (Dick Smith )
2: Risk only small amounts of capital (CFDs )
3: Have a Guru to Guide you
4: Become proficent in one style -- before adding others ( eg: GMMA's or Patterns or Swing or EW etc .
5: Select a " time period " Long, Medium or Short Term -- no use doing Short Term if your not in the position to moniter short term
6: As you you move on you MUST develop a " business plan" --- the "Trading Plans" are merly parts of the "business plan ".


The Bottom Line is your starting in Kindy --- Have a Teacher --- Understand that it is a GAME of CHANCE --- Learn to Trade ( Money Management/Psychology ) --- Analysts are a dime a dozen and you can buy their work (treat Analyst as an employee ) The Trader is Management .


Cheers








Cheers

 

[Julia]

Due respect to preceding advice, I'd suggest you don't do anything until you are thoroughly conversant with the Education segment of the ASX website which clearly explains how the market works, types of analysis in choosing stocks, etc.

There is huge amount of information there and I think anyone new to trading or investing who just leaps in without educating themselves in this basic way is simply foolish.

Julia

 

[Kauri]

And if you are tempted to join IG Markets, first find out what leverage can do to your account.