Where to start

[sdfsdfe]

Alright. I am an utter beginner, so I'm out for any information I can get at the moment.

One question I have for the moment: I've just joined Etrade and the "Online Account Application Form" I've printed requests submission my "Nominated Financial Institution statement". I'm guessing this will be my bank statement. Now... Do they need the full statement with my transactions or can I just send them the header of the statement with my bank details?

Once this is out of the way, can anyone suggest how I learn a bit more using Etrade? When should I begin investing - is there a training ground?

[surfingman]

I can suggest my 2 favourite free spots for learning:

http://www.aussiestockforums.com
http://www.asx.com.au/investor/education/index.htm

Etrade:
Theres a Tools & Education tab once you login, that should tell you most things you need to know about the software.

[kennas]

Always helps to call the company for help too.

[marklar]

Start reading! Seriously, there are plenty of resources around from websites like ASX and ASF, books, newspapers like the Fin Review. Pick some stocks to watch and research, read prospectus documents, financial reports, industry sector publications, etc.

m.

[tayser]

You did what I did - signed up with a broker before buying/reading a single book ;)

One of your tasks will be this: to see how well you can restrain yourself from committing money to things as you learn them... I'm roughly 6 months into my journey and am yet to commit ca$h (read below) - not far from doing so - but showing restraint has been one of the hardest things to do.

I suppose it's a key lesson in Money Management - don't do what I did, that being doing two trades so I didn't have to pay the $19 to keep the live info running (I did two, made a nice little $50 profit, then I immediately thought: "Oh this is easy, I'll just keep going, buggar the education process! (the next trade resulted in a $150 loss :) - very valuable lesson learned there but my money's been paying of the last of my residual CC debt and now getting directed into an ING until I deem myself ready to make my first 'real' trade)) - just leave $20-30 in the E*Trade Cash management account as you learn and so as you don't do anything foolish whilst doing so.

$0.02

[sdfsdfe]

Tayser:

Glad to hear! I'm not yet going to put anything down, but I thought I may as well try to get used to the system if at all possible.

Basically I've got $20K sitting in a St George account getting 4.1% interest. Now I've not been very attentive up until now, but I think it's about time. Does anyone have any suggestions as to where I should invest the money and in what sort of ratio? How much should I leave aside for trading later on and where else can I get a nice interest rate to store the rest?

Also, does anyone have an answer for the bank statement question? Do I need to send them a full bank statement or will the heading suffice?

[Pat]

Alright. I am an utter beginner, so I'm out for any information I can get at the moment.

One question I have for the moment: I've just joined Etrade and the "Online Account Application Form" I've printed requests submission my "Nominated Financial Institution statement". I'm guessing this will be my bank statement. Now... Do they need the full statement with my transactions or can I just send them the header of the statement with my bank details?

Once this is out of the way, can anyone suggest how I learn a bit more using Etrade? When should I begin investing - is there a training ground?


You did what I did - signed up with a broker before buying/reading a single book ;)Same here LOL! But didn't trade anthing for 2 months, while I watched, read... learned.
ASF is the best place to start learning how to learn about the market thats for sure.
I still don't understand the market... I swear it's female.

[questionall_42]

Missinglink,

Dedicate some quality time to trawling through ASF. Some gold on this site. Best approach is to have a nice bottle of wine or an icy ale and kick-back and enjoy. Just soak it up. Shame it wasn't around when I started playing this game.

I have found the Saturday Age/SMH useful; particularly the commentaries from the likes Ross Gittins, Marcus Padley, Bartho, Alan Kohler (who has now left) and Malcom Maiden - not that what they say is gospel, but it is important to see how intelligent people view investment from different perspectives.

But most importantly, if you are lucky enough to know people who are happy to talk (in the flesh, in person) with you about investments, in an honest way, that is the ultimate. I have probably learnt most from these interactions and have great relationships for learning and discussing investment ideas.

Best of luck, and don't be shy to ask.

[Pat]

Tayser:

Glad to hear! I'm not yet going to put anything down, but I thought I may as well try to get used to the system if at all possible.

Basically I've got $20K sitting in a St George account getting 4.1% interest. Now I've not been very attentive up until now, but I think it's about time. Does anyone have any suggestions as to where I should invest the money and in what sort of ratio? How much should I leave aside for trading later on and where else can I get a nice interest rate to store the rest?

Also, does anyone have an answer for the bank statement question? Do I need to send them a full bank statement or will the heading suffice?Not too sure bout the statement, However you should be able to "blank out" the transactions on the statement and send it through like that. I guess E-trade want conformation of your account.

[nioka]

Tayser:

Glad to hear! I'm not yet going to put anything down, but I thought I may as well try to get used to the system if at all possible.

Basically I've got $20K sitting in a St George account getting 4.1% interest. Now I've not been very attentive up until now, but I think it's about time. Does anyone have any suggestions as to where I should invest the money and in what sort of ratio? How much should I leave aside for trading later on and where else can I get a nice interest rate to store the rest?

Also, does anyone have an answer for the bank statement question? Do I need to send them a full bank statement or will the heading suffice?

Why not trade through St George bank or any of the other bank for that matter until you get to understand the system. The bank online trading can give help if you need it. St George, I have heard, require funds to be in the account before trading, .I trade with westpac and only have to have funds available at settlement time.

[Chef]

Does anyone have any suggestions as to where I should invest the money

Hi sdfsdfe.

What do you do for a living? What is your industry?

What are you interests?

The reason I ask is, I personally feel that when it comes to investing (at least initially), you should put your money in something you know and are familiar with.

If you are a complete beginner, I wouldn't recommend worrying about trading just yet. You should research companies that you understand and invest your money in something you feel comfortable with.

I work in the hospitality industry. When I first started out, I focused on companies that were mainly concerned with food and beverage. The first shares I ever bought were Fosters shares. I know Fosters, I deal with them all the time. I understand the market that they are involved in.

Anyway, I guess what I am trying to say is, if you are stuck and aren't too sure where to start, search for what you know. There are hundreds of publicly listed companies in dozens of sectors. It easier to find companies to invest in when you know and understand their business.

Dave

[Chef]

PS

Hi all!


:)

[sdfsdfe]

Does anyone have any suggestions as to where I should invest the money

What do you do for a living? What is your industry?

What are you interests?


Dave

Sorry for the late response!! My professional background is mostly in the web field. Interests are health, food & environment - not too much money there I'd imagine!