Explain Using POEMS to me

[Darryn]

OK,

 

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

 

Now what?

 

[Yellowbird]

start trading loh.......... they will send u daily some market news.......

[Little_prince]

  On 10/5/2012 at 6:38 AM, Yellowbird said:

start trading loh.......... they will send u daily some market news.......

 

just go in and buy lor.

 

join in the frenzy! market is booming! ! everyone huat huat ah!!!

[Darryn]

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

 

How to trade?

 

[Darryn]

Can I margin trade?

 

[Alpha78]

  On 10/5/2012 at 6:46 AM, Darryn said:

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

 

How to trade?

 

Your broker should have let you sign some forms to nominate bank account to CDP for dividend payments, and normally the same account nominated for making payment to the broker.

 

Buy, note the contract number and value, next day onwards you can pay with internet banking through the contract number.

 

Sell, (first make your you are not naked short), wait for money to be credited to your bank account.

 

Very hassle-free.

[Darryn]

  On 10/5/2012 at 6:53 AM, Alpha78 said:

Your broker should have let you sign some forms to nominate bank account to CDP for dividend payments, and normally the same account nominated for making payment to the broker.

 

Buy, note the contract number and value, next day onwards you can pay with internet banking through the contract number.

 

Sell, (first make your you are not naked short), wait for money to be credited to your bank account.

 

Very hassle-free.

 

Like that har?

 

I can't remember if nominated a bank account or not....can I nominate / change the bank account online?

 

And I don't run around naked

[Jman888]

  On 10/5/2012 at 6:33 AM, Darryn said:

OK,

 

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

 

Now what?

 

 

go in and click as much as you like, they trade in monopoly money one, have fun [laugh]

[Little_prince]

  On 10/5/2012 at 6:55 AM, Darryn said:

Like that har?

 

I can't remember if nominated a bank account or not....can I nominate / change the bank account online?

 

And I don't run around naked

 

think can.

 

anyway if in doubt buy blue chip. quite safe. just buy and hold for dividends if you unsure.

 

if you already know what you're doing, usually it's T+3 if you buy and sell.

[Darryn]

  On 10/5/2012 at 6:55 AM, Jman888 said:

go in and click as much as you like, they trade in monopoly money one, have fun [laugh]

 

Later I lose my pants I come stay at your house ok?

 

[Iceman81]

Well, depends on your broker, he will give u daily update at the end of the day and also what to look out for during the next trading day.

 

Basically, the funds u use will be from the bank acct u wrote and sign on the papers. Usually the max limit is 30k of trading. :)

 

POEMS if not wrong is by D+3 days after u purchase u must pay. Else they will sell the lots at the market price.

[Soya]

  On 10/5/2012 at 6:55 AM, Jman888 said:

go in and click as much as you like, they trade in monopoly money one, have fun

 

 

.....can open trading acct but dunno wat to do - i read oso .

[Darryn]

  On 10/5/2012 at 7:09 AM, Soya said:

.....can open trading acct but dunno wat to do - i read oso .

 

Dun burry me lor...

 

I not quite that ignorant.

 

Just need to go and look at the nuts n bolts part of how the trading is done...

 

 

[Enye]

a contrarian will take this posting as a signal

 

 

 

to exit the market.

 

 

[Rezorn86]

well my advise b a value investor, cos if u do trading, your remiser will b superb happy cos of the comission. so just go sgx to attend course n learn something 1st.

 

trade n invest at your own risk cos this 2yrs economics is quite bad n recession is coming soon n for now, most of the stock r at the high side.

 

but hor, if u die die wan to invest to a company. maybe u can look at a transport which recently got a army as new ceo [laugh]

Edited October 5, 2012 by Rezorn86

[Wyfitms]

  On 10/5/2012 at 7:29 AM, Enye said:

a contrarian will take this posting as a signal

 

 

 

to exit the market.

 

 

 

Exit so soon? Party just got started.

 

 

[Taipan49]

  On 10/5/2012 at 7:29 AM, Enye said:

a contrarian will take this posting as a signal

 

 

 

to exit the market.

 

 

 

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.

 

[Darryn]

  On 10/5/2012 at 7:42 AM, Taipan49 said:

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.

[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.