Friday, 2 October 2015

HOW TO GET STARTED


First up decide what you want to achieve, and what your goals (risk v return) are. How much you are willing to invest and how much you can add to your investment stash every month / year whatever. This is YOUR decision and no answer is right or wrong but obviously the more you put into it in both time and money, the more you will stand to get in return.

Be realistic, you have to live and function as an adult while you are doing this so there is no point putting your grocery or petrol money into this and not being able to show up to work, pay the rent or do what you need to do. put money in that you can afford to kiss goodbye for a while (or in worst case scenario permantly)

I recognise that most people can't just throw in huge amounts of money so maybe put in a monthly payment that fits in with your budget or something and keep adding to your share portfolio, over time it will grow. REMEMBER: Even if you only throw in $200 per month you're still $200 a month ahead of someone who isn't doing anything for their future

Remember with no sacrifice comes no gain. I know friends who routinely blow $300 on a night out at the club, taking drugs, drinking or gambling but will claim they have no money whatsoever to put into doing something that could change their whole reality. Again I'm not your financial advisor and I'm not here to tell you what to do, but if you're serious about changing your life you have to do something and its never easy.

If you're interested in trading shares (either a fully funded share account or margin lending) the quickest way to get started is to go to your bank and ask them if they have a trading platform. Most major banks should have one and for the time being its all the same.
For money transfer processes it probably works best if you open an account with the guys you bank with . Just go in and ask they will be more than happy to help you out with getting started

If you are trading in CFDs (the highly leveraged option) I would recommend you sign up with a site called http://www.igmarkets.com they have a great site and you can get started with a minimum amount of money which I believe is $500 (but don't quote me) however with CFDs I recommend you DON'T put in too much money in first up, because you will most likely loose it a few times before you get better at trading it... this is a more complex and risky platform for trading but of course holds the highest rewards for those willing to learn how to do it.
NOTE: I use IG Markets and believe to be an excellent platform. I have tried a few others and this one comes out best for me. It doesn't mean it IS the best, but it means its the best that I have used.

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