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Community


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Online Share Trading

Engage and learn about markets and trading online

New and Clue-less

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Not applicable
I'm very new in the share trading business, i've just opened a trading account with standardbank and deposited some money in mu trading account, but i'm a bit stuck on what to do next...as in i'm not sure what first step to take, I don't wan't to risk and start trading with no information... PLEASE HELP!!!
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16 REPLIES 16
grommet
Regular Contributor
menu ---> help end education , then attend some courses
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Terra
Super Contributor
Read Trading In The Zone - Mark Douglas. You'll find a free PDF version on the net.....
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prancing_horse
Super Contributor
Not very clear if you've invested in shares before, or if you intend taking the bull by the horns and want to start trading with no knowledge.If the latter be pepared to loose everything and still you would have learnt nothing.To be successful takes time and most of all discipline.My advice start investing, and if you have, then start with CFD's with no more than 20k.
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Not applicable
dear aquostic : What are you doing with a Trading Account ? Do you know how to invest.Now, of course, it's all rather exciting,etc....HOWEVER....get ready(if you should continue with this idea.);Yes, get ready for Pain.Pain is how we do it in Trader Universe.So, my only advice is...play small.You know, the kind've small where you sleep at night.Yeah, that small.###I hope you're a little scared now.Welcome.sincerely:Scarface.
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Not applicable
Well, what more can I say than what has been said above. First things first, read, read, read and then find some of the local courses offered by OST free. Just book your course that interests you, but start with the basic investing and analysis courses first. Then watch the markets, paper trade and learn some more. In about three months you should be ready for your first "trade". In the mean time dive into some blue chips to get your monies secured out of your itchy fingers and let them drive a little profit (maybe) for a few months then when you are ready, either deposit a fresh batch of cash to loose (and you must be comfortable loosing maybe 30% of that) before you learn to get your emotions under control, or withdraw by selling your blue chips to get cash. Trading is like drawing blood from Simon, it just dont happen and when you do be thankful and say thanks to Mr Market for being kind. You loose your head for a few hours and become confident, well 50% plus will be your loss. Hope this helps you. No harm intended but thats the way it is.
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Blik
Super Contributor
Not all is doom and gloom, but be aware on this forum you need to define whether you are a trader or someone who buys shares for investment purposes long term on the "trading" site. There is a difference, and the debates concerning investing and trading are only marginally less heated since Chartist has left. If you are aiming to trade, and are new to both investing and trading, then yes get prepapred to lose. If, on the other hand, you would just like to start buying shares to hold long term based upon your own set of rules (as opposed to those of your broker), then its not all bad. Investing in solid companies with good earnings graphs, good dividend yields and such, can yield long term gains. Keep abreast of Werner's posts. Werner tends to invest, as oppose to trade. I know minimal about trading, and tend to stick with investing, and started knowing absolutely squat! I still know little, but over the past 8 years have created my own invstment portfolio that is giving me a decent dividend return every year. But thats my long term aim.
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Rams
Super Contributor
You have done very well by just opening up a trading account.Its a good start. In a years time you will have gained a lot of trading knowledge, emotional pain and financial pain and then you will be ready for Mark Douglas's "Trading In The Zone" ...if Simon does not get to you first!
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BoburUncle
Regular Contributor
Hi there, go to www.realchartist.com and follow what they do there to learn. It is a whole different ball game there, but it may interest you as well. Both there and here, people are willing to teach, and on http://www.sharechat.co.za/index.php/f/2/ there are a wide range of topics available to chat about. www.babypips.com gives you a good basic course online which covers everything.
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SimonPB
Valued Contributor
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Spoegs
Contributor
Got to agree with Simon. Play in the ETF zone. Understand how the ETF's work, what's offered, what the underlying shares for each ETF are. Once you're on top of that then you could start looking at investing/trading subclasses of the ETF's and then move onto the underlying shares. Best piece of advice I have is - nobody really knows whats going on - get people's opinions etc but you're responsible for your money, you must be responsible for your investment/trading decisions. Oh and learn how to use ms-excel. If there was one good thing Bill Gates did it was excel.
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CHATTYCHAT
Super Contributor
My 1c - open a second account, call it Invest. This will enable you to benefit from the SARS evaluation to distinguish capital profit from trade profit/loss, the latter goes on your income statement, albeit it will be capped if you earn a salary.
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THRESHOLD
Super Contributor
Learn to invest first. Then trade the stocks you are able to identify as quality assets. And for a newbiee - these may just as well be TOP40 components only. Or trade the indices as suggested above - but this can get a bit boring. This way you will have the underpin of the asset (stock) itself. Trading in speculative stocks (SIMMERS, DRD, WEZ etc.) should be left to the guys who are ruthless enough to apply their stop-looses when required.
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THRESHOLD
Super Contributor
LOSSES Anyway - good luck!
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brnman
Occasional Contributor
Just some things that have helped me/I screwed up when I started (+- 2yrs) ago: 1) As mentioned repeatedly, know whether you want to invest or trade. 2) Define goals for either strategy, i.e. I want to outperform the money market return by x% and stick to these goals! 3) Understand the effect costs have on your required return - assuming you're investing small chunks in the beginning, these could reach 2-3% of the total. Take these expenses into account when calculating stop losses and/or return expectations. 4) Understand what you're trading and be aware of the liquidity and buy/sell spread. 5) Use trailing stop losses to protect profits, but be careful on how tight you set them - even a 10% stop loss could potentially stop you out of a otherwise good share if markets are volatile. Hope these tidbits help and best of luck!
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Not applicable
you will probaly make more money buying satrix. listen to simon boetie.
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geordie1
Super Contributor
Good luck.I am an investor who occasionally trades-I started when I was 18-it took me 25 years before I plucked up the courage to go on my own and for the last 14 years I have survived and thrived based on luck,good fortune and a bit of common sense-the quality of life I have being on my own,being my own boss and having time to spend on my family and hobbies is priceless-I have enough money to take care of myfamily and myself and well before normal retirement age I became a 'free' man.There are millions of experts out there-listen to them but ignore them-become your own expert with your own point of view and learn to stand by your own opinion-it is worth it-Mistakes will happen-so what so will success if you find and stick to a formula that uses common sense-luck sort of evens itself out and good fortune depndes on your destiny-enjoy.
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