This Post Originally Posted in Equity Profit at 02 Sept 2017
“Be willing to be a beginner every single morning.” ? Meister Eckhart
The above quote aptly describes the stock market. You might be experienced with trading or may have just started. Uncertainty is the only identity of the stock market and therefore if you see someone asking “how to begin trading in the Singapore stock market?” it is quite natural!
This is also one of the foremost queries trading aspirants ask. Whether they are tempted with the success of other traders or are excited after exploring the prospects of stock trading, this one question comes to the mind of almost every one.
Well, spending time earning in gaining knowledge about all that is required is better than failing in the stock market and then asking it! So if you too are bogged with the same question, you should read this post and gather some valuable advice as stock trading tips from experts.
Start with a virtual Demat Account
“Well begun is half done!” – Unknown
As a beginner, most experts suggest traders begin with a virtual “demat account”. Trading using this account helps you gain that initial knowhow about how trading is done, how money is invested and also what is the right time to target specific sectors.
There are numerous companies offering virtual trading accounts, but the best of all is with SGX Market. Start off with this account to gain that much desirable confidence.
Once you have the confidence and experienced necessary to start stock trading Singapore, you are up to go open a real Demat Account with some professional broker!
Know about most recommended stocks
“An investment in knowledge pays the best interest.” – Benjamin Franklin
Read this quote and you will realize why you need an expert’s helping hand in pursuit of profit in stock market. Yes, much before the next question comes to your mind “which are the most recommended stocks to invest in”, here is the answer!
First and foremost, look for your own trading interest, whether it is the banking sector, telecom, real estate, finance, or something else! But when deciding the stocks of specific companies to trade in, you should look for various aspects like the company’s turnover, its previous year’s profit and loss statement, trading volumes in the stock market, etc.
Another important factor that is decisive for your trading is whether to invest in the short or long term!
Understand that you invest for a short duration with a three to six-month perspective and you invest in a long-term with more than six months perspective. Depending upon specific stocks, their trend and the advice of your stock tips provider, you can decide for specific stocks and then invest in them.
Few things to remember
- Constantly educate yourself by reading valuable wisdom from stock market experts.
- Keep abreast with the latest market updates, financial news, market events, company-specific updates, etc.
- Have a trading strategy of your own and match it with your financial objective.
- Diversify your trading portfolio by investing in multiple stocks/sectors.
For stock trading, always remember that-
“There are three ingredients in the good life: learning, earning and yearning.” – Christopher Morley.