Explain Using POEMS to me

[Sosaria]

OK,

 

So I've signed up with an account with phillips security, my central depository account has been opened.

 

Now what?

 

Don't worry, your broker will be very happy to answer all your questions, as he earns a little from all your trades. Definitely he will want you to be "active", and will help you on your way.

 

I got an old relative who's not so educated and illiterate in english, also can "play" shares! Not using POEMS of course, but through broker. That shows how simple the process is...

[Taipan49]

[thumbsup]

 

Those that have winning strategies play their strategies and don't need to make money from seminars.

 

But yeah - this is pretty good advice.

 

The main reason not to start yet is I haven't worked out a strategy at all.

 

I basically believe in trading on company fundamentals, but not time for research etc. Unless I just follow the trends of whatever the analyst recommends.

 

Would prefer to go more towards cheaper stocks first, so that the commitment per lot is a less...

 

Other than that, not many thoughts.

 

Best to work out a strategy that works for you before jumping in.

 

As for what analyst recommend, their top clients get the best research first before anyone else as it is down to how many $$$ the client generates for the broker. Retail reports are either late to the market, or done by juniors who may not have experience on their side.

 

As for cheap stocks, cheap can get cheaper. Find out why they are cheap first.

[Darryn]

Best to work out a strategy that works for you before jumping in.

 

As for what analyst recommend, their top clients get the best research first before anyone else as it is down to how many $$$ the client generates for the broker. Retail reports are either late to the market, or done by juniors who may not have experience on their side.

 

As for cheap stocks, cheap can get cheaper. Find out why they are cheap first.

 

Again all true - I fugure that what the broker reccommends any advantage is already gone by the time I leap on it, not really wanting to be a crowd follower either...

 

All reasons why I not been that much of a rush to start...

 

[Icedbs]

Don't I have to put some money somewhere first?

 

How to trade?

 

PM me and I will tell you how. I use POEMS mainly for US shares. SGX shares too slow for me.

 

But the whole online trading process is the same.

 

Don't waste time asking such topic from pple here. 70% are nonsense.

[Kangadrool]

Yep, usually the way.

 

But Darryn, have you worked out a trading strategy/methodology? My advice is to ignore those doing seminars and determine something that works for you. Good books to start with are those by Jack Schwager called Market Wizards as they are conversations with successful traders and help to understand how people approach the markets and how they think through their trading ideas.

 

From my experience in the industry those conducting the seminars make their money from that as their trading accounts aren't spectacular. Had one client who was quite popular on the seminar circuit and he never made money trading.

 

I think he standby for the crash (now set up account), then go in and scoop up all the shares at rock bottom price.

[WTF]

You should have an agent assigned to you. You can contact him/her and then meet up at their offices where he/her can show you to how to use the website and do trading.

[Little_prince]

[thumbsup]

 

Those that have winning strategies play their strategies and don't need to make money from seminars.

 

But yeah - this is pretty good advice.

 

The main reason not to start yet is I haven't worked out a strategy at all.

 

I basically believe in trading on company fundamentals, but not time for research etc. Unless I just follow the trends of whatever the analyst recommends.

 

Would prefer to go more towards cheaper stocks first, so that the commitment per lot is a less...

 

Other than that, not many thoughts.

 

erm. not exactly.

 

good stocks are expensive for a reason.

 

because the fundamentals are good.

 

go with the blue chips. you pay more upfront, but the money is safer and you get dividends regularly.

[Freestylers09]

can trf $ first to ur poems..or payment on the T+4th day before 9pm

 

unless contra

 

if u got $ inside, they will take it as buy in on 3rd day iirc..unless u highlight to ur broker u dont want to hold..

 

any bank can do a trf to them, just put reference number can liao

 

for dividend, u nid appoint ur bank which to use

 

 

[Darryn]

can trf $ first to ur poems..or payment on the T+4th day before 9pm

 

unless contra

 

if u got $ inside, they will take it as buy in on 3rd day iirc..unless u highlight to ur broker u dont want to hold..

 

any bank can do a trf to them, just put reference number can liao

 

for dividend, u nid appoint ur bank which to use

 

What I was planning was "parking" money inside the account first.

 

So I just transfer in from my bank account - then roll the money from there?

 

[Freestylers09]

u can do that if u want too

 

the interest is slightly better if put into money market fund but with abit risk ..lol,can opt not to also

[Galantspeedz]

all so early pay? t+3 , t+4?

 

fs, yours is on auto trust and pick on due date?

[Galantspeedz]

PM me and I will tell you how. I use POEMS mainly for US shares. SGX shares too slow for me.

 

But the whole online trading process is the same.

 

Don't waste time asking such topic from pple here. 70% are nonsense.

 

it depends on his risk level and it may be simpler to start with sin shares

[Darryn]

it depends on his risk level and it may be simpler to start with sin shares

 

I will be starting off slow - small amount of money until I get used to it.

 

The money I will use initially is don't care money (as in, if I lose it, it won't matter)

 

I am quite impatient, so rather than long term view am thinking of using margin trading to see if can get quick and volatile returns, but that does mean I would be looking at seeing if I can trade an index instead of individual stocks...

 

[Enye]

What I was planning was "parking" money inside the account first.

 

So I just transfer in from my bank account - then roll the money from there?

 

you were going on and on about investing in another property a little while back.

 

Changed your mind?

[Darryn]

you were going on and on about investing in another property a little while back.

 

Changed your mind?

 

Nope - doing both

[Enye]

Nope - doing both

 

cool...

 

will you also come out soon and ask what to do with 400k like a certain ex MCFer?

 

[Darryn]

cool...

 

will you also come out soon and ask what to do with 400k like a certain ex MCFer?

 

 

I hope so...

 

But there is little chance that I wouldn't know what to do with $400k -

[Galantspeedz]

I will be starting off slow - small amount of money until I get used to it.

 

The money I will use initially is don't care money (as in, if I lose it, it won't matter)

 

I am quite impatient, so rather than long term view am thinking of using margin trading to see if can get quick and volatile returns, but that does mean I would be looking at seeing if I can trade an index instead of individual stocks...

 

try penny..... but you got to understand every change in 1 bid result in a higher percentage of gain/loss as compared to blue chips

 

as for margin trading, maybe you should hold on to it till you got something worked out...