It has been a phenomenon in Metro Manila for more than 50 years now.
The goal is to give you as few information as possible so you can start quickly but never carelessly. Few info lang muna because I want you to avoid information overload which frustrates newbies that stop them in taking the first steps.
Time is your best ally when it comes to investing, so making sure that you start as soon as possible is of utmost importance for you.
Why focus on mindset? What follows are my first-hand experiences when I was starting in this stocks investing thing. Enclosed in green boxes like this one are the actual steps I recommend to you based on what I have learned so far, with some links to simple tutorials for beginners to help you jump start your investing journey in Philippine Stock Market.
In case you have other questions on each of those steps, just let me know in the comments below. I was really ignorant financially beforelet alone on investing in the Philippine stock market. Totally had no idea about financial and investment ek-ek I finished a highly technical engineering degree!
Then it was followed by an invitation from one of my lecturers during my board exam review. Up to now, I could still clearly remember how that kind professor said his regret on his late entry to the market. That it took him many long years before he and the stock market met along the road.
So when I finally decided to give it a try, I went the next day to an online trading brokerage firm. I started really small — 10k lang. Yes you can start with as small as 5k lang actually.
Just like starting anew in anything, my clueless personality made all the moves for me in a wide vast field of unknown.
All I had to hold on was my mustard dream of financial freedom and the belief that stock investing might be a path for that dream. I managed to cut the chase, and applied for an account. All you have to do is go to the website of your preferred online broker, read the account opening instructions, download all the forms,fill them out and submit it together with all the other requirements to their office.
You can also check HERE a simple tutorial on completing this first step with the click by click tutorial shown below that will guide you how to open account in COL Financial formerly Citiseconline as online stock broker. My First Purchase in Philippine Stock Market Philstocks was my first online broker, precisely because it was the one I initially found out in the net that required only initial deposit to actually start trading.
Minimum investment required was pesos, but I put down 10k just to put a front that I have more than the minimum. Pride I guess haha. The lady in charge gracefully accepted it after examining my forms, then handed me an official receipt, which was also the highest-valued receipt I received ever since.
With my humble 10k initial investment, I was too excited to buy a company share and brand myself a part-owner of a giant company. Hard-core traders would laugh on me for that, but I was already more than happy just giving it a try.
Note that your initial deposit already forms part of your investments which you can use to buy your first stock. An example taken from online broker COL Financial website is shown below for manual bank deposits. However, take note that your buying power will obviously depend on the amount of fund you put into your trading account.
Check on the respective procedure of your online broker on this step but this should be a very simple task.
Below is a lengthy tutorial in case you have questions related to above steps. And my first ever transaction: Total cost is Recollecting, when the class becomes bored with chemical principles and unit operations stuff, he would start cracking some jokes, and then afterwards would invite us to try investing.
He suggested that we experiment with MEG. And when it got matched, my heart jumped with joy. I went back to my work, but I smilingly secretly applauded myself.One of the oldest and most popular websites carrying Philippine news to Filipinos worldwide - rutadeltambor.com, the voice of the global Filipino since I have just written about the most important Philippine problem.
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