Sunday, January 18, 2009

How To Get Into The Market

I won't get into the details of what you should learn before you get into the stock market. You can get all the knowledge that you need from websites or books available throughout major bookstores.

Assuming that you have what it takes to survive in the market, there are couple of things that you need to do before you can start trading or investing.

1. You need to select your stockbroker. Most major banks have their own stockbroking house, and most of them will allow you to open a trial account. Sign up for 3-4 accounts with different house, and try to get familiar with their system. See what they offer. Read 2-3 of their research reports, if they have any. Find out how much they charge. The cheapest one I could find now is from Jupiter Securities. They offered 0.05% or minimum RM8. Low brokerage fee is very important is you're going to trade alot! I just opened a trading account with them. Before this I was trading with RHB Invest,  and heck, they charged me 0.7%! The different is so big. But RHB has very good research reports, so I guess maybe that's why they're expensive. So maybe you would like to open 2 account, one with good research, and one that offer cheap fees.

2. Well, that's it! I do have couple of things to write, but I seem to forget what it is. Oh well, below are the list of stockbroking house in Malaysia.

CIMB iTrade (They have 'Zero Brokerage' promotion now.)

...I think there are few more, but that's for you to find out. Maybe you could start from Bursa Malaysia.


Ok that's it for tonight. I'm off to Sabah tomorrow, so I won't be posting for couple of days. But you can call or sms if you have anything to ask. So, have fun to me! :P

Ciao


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