How to buy stocks huh?
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can anyone teach me how to open a account before i can buy shares?
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lol i tot you said 'how to buy socks'
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Wa lao.. If buy socks, make sure it's from Sand wan..Originally posted by sand king:lol i tot you said 'how to buy socks' -
i think you still havnt wake up... -
No need to open account wad. Just go down to NTUC Fairprice cannot meh?
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Before you open your account, I recommend that you read my book, "Insights into casino and stock market gambling and speculating" .... which BTW is NOT in all good bookshops, YETOriginally posted by citymax:can anyone teach me how to open a account before i can buy shares?
www.casinogamblingprevention.com -
Originally posted by turbo_drift:Wa lao.. If buy socks, make sure it's from Sand wan.. Me no sell socks
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Whoa, you are handsomeOriginally posted by AndrewPKYap:Before you open your account, I recommend that you read my book, "Insights into casino and stock market gambling and speculating" .... which BTW is NOT in all good bookshops, YET
www.casinogamblingprevention.com -
photoshop...Originally posted by sand king:Whoa, you are handsome seriously, eons ago I looked like that... so many homosexuals interested in me until I buay tahan... but homosexuals are OK.. -
U yest sell me the sand socks leh...Originally posted by sand king: Me no sell socks 
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realli dun understand how come got ppl can mix stock with sock...
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Hmmm...open account when you're 21...have some capital (a few k)...
Before that...do research on stocks...and see if its worth it to buy or not...
Rule of thumb: Buy low...sell high =) -
paiseh,how to open acc,can i do that online??Originally posted by fairlady_xoxo:Hmmm...open account when you're 21...have some capital (a few k)...
Before that...do research on stocks...and see if its worth it to buy or not...
Rule of thumb: Buy low...sell high =) -
how old are you?Originally posted by citymax:paiseh,how to open acc,can i do that online??
since you don't know much about stocks market, its better that you don't open up an account
between, its call SHARES, not stocks
just ask a broker to open up an account for you, then you will save up the $1k
and since you don't even bother to look up the website,
goodness, are you 16 years old? -
I think you can do it online....but u need to have capital first...Originally posted by citymax:paiseh,how to open acc,can i do that online?? -
ya...you need ro really know what it is...Originally posted by allentyb:how old are you?
since you don't know much about stocks market, its better that you don't open up an account
between, its call SHARES, not stocks
just ask a broker to open up an account for you, then you will save up the $1k
and since you don't even bother to look up the website,
goodness, are you 16 years old? -
TS
don't think short selling is that easy hor
remember hor, if you don't have capital at all, its better that you don't go into the stocks market at all
between do you have any capital to hold any shares
or you are just another contra player -
Originally posted by turbo_drift:U yest sell me the sand socks leh... That one cheong one
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Originally posted by AndrewPKYap:photoshop... seriously, eons ago I looked like that... so many homosexuals interested in me until I buay tahan... but homosexuals are OK.. Was a compliment actually
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most ppl see stock market as a good way of earning money. yea it is, its relatively low risk in fact, but only if u dont play in the stock market with BORROWED money. That is an incredibly low percentage move especially if you dont know what you're doing. let me create a scenario.
1: you utilise the generous credit line the bank offers u with whatever collateral you put up to speculate in the stock market.
2a: you earn big bucks, you get greedy, u borrow more money, buy more shares.
3a: you mortgage your star shares to buy more shares
2b: you are incredibly bad lucked and ur stocks dont perform up to expectations
( either 2a or 2b happens, it doesnt matter )
3: your shares divebomb in market value
4: the bank suddenly turns nasty and demands for assurance that you'll be able to pay back the loan. ( which u obviously cant since most of ur assets were already tied up. THATS why you borrow money to speculate in the stock market)
5: the bank doesnt believe your assurance that the shares would recover soon and that you'll be able to pay off the loan. Bank forces you to sell off your shares at the current market value ( which sucks since u paid alot more for them in the first place ), then extend the deadline for u to pay off the balance of monies unrecovered
6: You are forced to sell off your OTHER assets in a hurry, lest the bank file for your bankruptcy. (note that when time is not on your side u always get ripped off when trying to sell off stuff.)
7: meanwhile, the interest rate turns the might-have-been-small balance into a staggering sum, or turn a sizable balance into a monsterous sum.
8: you are unable to raise enough money and eventually u file for bankruptcy
9: work your ass off for a decade or 2 before u either pay off all your owed monies ( interest rate becomes negotiable and more humane AFTER u become a bankrupt ) or fail to pay off your money after being enslaved for a sizable chunk of your life. Bank writes off your debt and u become a semi-discharged bankrupt. not a bankrupt but still have some of the restrictions imposed on a undischarged bankrupt.
Note that scenario 9 is in worse case scenarios, when sum owed is in the 6 digit range. People owing $500, 000 and above generally do not get discharged (unless hes an amazing entreprenur who worked his way into paying it off completely )
ON the other hand..
Speculating in shares with ur savings. Well.. the maximum possible gains is of cause alot lesser then if u speculate with borrowed money.. but well.. maximum possible loss is very very attractively low.
1: You speculate in the stock market
2a: Your shares perform and u earn money.
3a: you keep some of the earnings in the bank and reinvest the rest of the profits
4a: even if some shares underperform u can afford to keep it. Most of the shares which drop in value are generally able to recover most or even all of their original value after a period of time.
2b: you're a horribly unlucky fellow and all your investments go bust on you.
3b: So your savings go wiped out, but you still got a job, creditors arent chasing you, you've got a chance to save up enough for your retirement and swear off speculating.
note that the main reason why borrowing money to speculate in the stock market has a high bankruptcy possibility is because the person in question is unable to hold a share that has divebombed in value until it recovers all or part of its original value. The financial institute which loaned him the money would aim to recover the money as soon as possible ( when the stated loan period expires ) and generally WOULD not give a grace period. The shares could take a long time or even decades to recover its original value which pain sucks for him. So after being forced to sell his shares, the recovered sum of money would be significantly smaller than the original loan amount and the person will be in deep trouble. So dont speculate with borrowed money if you don't know the stock market -
First what do you know about stock and shares?
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you need to open 2 accounts, a CDP account (to hold your shares) and a trading account (example: philip securities, kim eng, ocbc securities)
You can simply go to philip investor centre to open a trading account. They'll open a CDP account for u.
Need 1k deposit, but u can use this 1k to trade.
Use trading account to buy or sell shares. Got txn charge (usually $25 depending how much u trade)
So if you just wanna try try, do ur sums first.
Example genting int share $1 (i think). So 1 lot cost 1k. But you'll be charge $1025. So if the genting share go up to $1.05, you breakeven. So u only earn if the price goes above 1.05
Of course there is contra option, meaning u no need pay money within 3 days.
Happy trading. -
actually can go to a bank and open trading account mah.. no need to go philips securities..
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You just subcribe for a IPO then you will auto get a
CDP account....