Like solving a Rubik cube, investing in the stock market also follows uncomplicated steps.
Please allow me to share with you first the story about my Rubik addiction in the video below.
To easily solve a Rubik cube, there are algorithms in every step that are very simple for a beginner to follow. In investing in the stock market, there are also simplified guidelines for newbies to become successful in their investing journey.
Investing in stocks is an upgraded version of a bank savings account.
This is because although the risk is much higher, investors expect a a higher return of their investment.
Stock market investment is also like an upgraded savings account because your money can mulitply quickly especially if you re-invest your gains instead of withdrawing it to finance unnecessary spending.
This should be allotted for your long term or semi long term goals.
Here are the 5 simple steps you must take to invest the Philippine stock market now
1.Open a Broker Account
In order for you to transact in the market, you should have a broker account. Your broker account will enable you to personally buy and sell your shares of stocks in a particular company.
There are documents you need to provide in applying for a broker account. These include:
- TIN – Tax Identification Number
- Government issued ID
- Filled up application form (You may download this from your broker’s website)
2.Fund Your Broker’s Account
To start purchasing stocks you need to have a buying power. You can do this by finally funding your broker account.
You shouldn’t be worried as to where your money is going as long as you have chosen a legitimate Online Broker. Your money will go to your trader account account whic you can see later on in your buying power.
The buying power will appear in your portfolio upon you login to your account.
This fund will then be used to buy shares of stocks.
One more tip is that you can easily fund your trader account using online banking, or you can also visit their website to drop off your fund.
3.Select A Good Company To Buy
Once your fund is in your buying power, you can now start buying shares of stocks from your selected companies.
TIP: Investing is not about how many companies you own but it is how much shares you own in a company.
But the dilemma of what stocks to buy seems always to be the fear of a starting stock market investor.
It is advisable for you at this stage to seek proper guidance through books, training or club memberships to be more aware, gain confidence and build a proper mindset about money to prosper.
4.Take Good Care Of Your Stocks
After buying stocks, you should nurture your shares so they can grow robustly. You should be guarding them from potential threats in the market.
Just like raising a teenage kid, nurturing your stocks may sometimes be unpredictable. Stock investing may drain you emotionally especially if you aren’t sure of what to do with them. Without a proper guidance, like many teenagers, the stocks are sometimes difficult to manage.
5.Sell Your Stocks
This is the step when many investors are smiling from ear to ear because it’s the time to harvest what they have sown.
When the price of the stocks already reach their potential growth, you now come to face the time to let them go.
You are allowed to be a two timer man or a woman in investing in the stock market . Loyalty to a particular company is not highly encouraged here. You should become adulterous to your stocks.
Take It To The Next Level: Double Your Gains
Here is the clever part. To multiply your money quickly, once you make a sale, you should not withdraw your gains and make a trip to the Apple store or to book a flight to Coron.
You should re-invest it by buying shares of stocks of another potential company.
Look, you can also master all these steps in a very short span of time and start investing soon. You just have to be teachable.
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