I have never done this before so if someone could inform me on a cheap and easy way to purchase shares in this company that i have in mind it would be much appreciated. Keep it simple guys i'm not that bright. :fraz:
Check out the banking web sites, westpac (www.westpac.com.au) or commomwealth (www.cba.com.au <- i think) and the others, and goto broking or share trading, you can do it yourself.
Look up on-line broking in a search engine, or the yellow pages, there are fee's you have to pay for transactions check those out carefully as they are the big killer in profit, also capital gains will be applicable if you buy and sell quickly, check out www.ato.gov.au for the rules on shares.
I'm a big fan of both E-Trade www.etrade.com.au and Commonwealth Shares www.commsec.com.au which are both intuitive and easy to use. I do 99% of my trades using commsec because you don't have to set up a separate bank account. I have been unable to fault commsec in any way - good service and reliable.
Just got back from the north coast, i had a bit of a sticky at the CBA site this morning but from what i could gather it could take a few days to get approved before i can purchase anything. I would like to purchase asap. Also where can i find current share prices on the net?
Its a pleasure helping you Matt as when I was 16 my business studies teacher
taught me all I know now and I always indebted to him so. Im still in regular contact with him. He's retired now making more money on the sharemarket than working as a poor unappreciated abused high school teacher. That’s still a pipe dream for me.
I suggest going with comsec. The best way of getting the latest share prices is on the internet of course- ASX and the weekly roundup in the financial review paper. The nightly business report on SBS also provides useful info
on global trends if you also plan to invest overseas and the German news also gives good information on the Euro world which is a far better investment than the lackluster stagnant American economy. Asia can be a goldmine but
if you don't know what’s going on locally its a minefield. Though for brave new investors I suggest sticking locally first.
I suggest you read thoroughly a prospectus and also talk to a person of authority in the financial department of a company before parting with your hard earned cash. I get some insider knowledge from friends at Franklin Templeton and Deustche Bank but advice can only count for so much. There is no such thing as playing the stockmarket to win it is glorified horse racing I kid you not be warned. It will take many years of knowledge in a particular market or commodity to get the winners. Most share investments for me have not been flash in the pan short term achievements they have been long term slogs that do pay off.
Personally I suggest-
1. Shop around for an online trader for the best deal- read the FINE print!!!
2. Family, relatives and some trusted friends often can give better advice than most share traders out there who sometimes have 'vested interests'. A good example of that is superannuation where the little money you earn each year gets gobbled up in admin fees. Since I've been running my own superannuation I've had no overheads and I manage all my investments without being left in the dark. If your financial adviser does not put capital
into the shares he/she is advising their hypocrites.
3. Do imaginary trades ! Pick some stocks out of the paper and check
the outcomes. In two weeks time or a month if they have been successful
or even 'stable' for the matter get some more info on them. Then after
all the brainwork and methods of deduction then part with your money.
4. Talk to somebody in the company your investing in. Even if it’s only
2-5 grand it all adds up in the company coffers. Speak to someone on the
phone. I can remember having a rather hearty conversation with the
senior financial officer of TOLL about investing in the fledgling company
a couple of years back. He was more than happy to provide info and if
they don't or won't answer questions go to someplace that will.
5. The Greed factor. Money is the root of all evil :evil: as written in the old
book. Many people seeing the share price increase wait till the ceiling falls in
don't be one of them. Set your 'sensible' ceiling and bow out comfortably
say if you bought shares for 25c each you set a ceiling of maybe 40c
and bow out. Don't kick yourself later when the shares have 90c or
even $2 you still made a 60% profit be content with that. Better to take
small treads before big yeti sized leaps.
6. Worry warts- don't be one. The market is evil and sinister :nnn: be aware
of that. A good example of that is Telstra a company with complete
market domination yet its share price does not reflect the fact. Market
forces often undermine good stocks so they can gobble them up when the
mom and dad investors think the end is near and abandon ship. Rough out
the storm as often there is safe harbour unless the company is in turmoil
ie- corruption, dirty deals and muck raking- ie NAB.:hehe:
7. Forget about your shares- there are some nutjobs out there who need half hourly updates of their share prices otherwise their blood pressure will reach critical levels.
You've planted you seed be patient and they will most often grow.
That being said you should half worked out a planned contingencies if
all is not well at a set time in the future to review their performance.
But remember CGT !
Read or buy the yearly financial tax guides ( or buy them) they have a wealth of information regarding taxes due and ways of incurring less in financial transactions.
I'll be happy to answer any queries free of charge Matt- PM Me.
maybe one day I'll be able to build that EA GT 351 :BW: - oneday... anytime soon.