If you are a new investor and getting to grips with the markets for the first time then you should have access to multiple sources of quality information. So, here is our answer to the question “How do you I started?”
Ten tips for new investors
1. Open a trading account
Find a good broker and open an account. You can familiarise yourself with the systems and functions and be ready for when opportunity knocks on your door. Most brokers also have plenty of free information and training available to clients. See what you can learn from this site. Why wait? Open your account now.
2. Track the trades
If you are still lacking confidence in your own abilities then you can also make use of a managed account. by appointing a portfolio manager and discussing a strategy you can track the trades in your account in start learning this way. Read more about our managed accounts.
3. Find a mentor
Mentors can come in many shapes and forms. It may be a friend, family member, investor, trader, professor, co-worker or anyone else with a decent understanding of the market. Different mentors will provide you with different insights. Your stock broker can also act as a mentor. Contact us if you need more information.
4. Read books
Books provide a wealth of information at a fraction of the price of most seminars and presentations. We have listed our favourite stock market and investing books on this site. See what they are.
5. Read articles
Another inexpensive way to keep up with current affairs. You can find these online, like Fin24 or Financial Mail; or opt for the softcopy to enjoy at home. For basic terms and definitions you might want to try out Investopedia. Read our articles here.
6. Attend seminars
Seminars and presentations are another source of information for new investors. Many of these often present an overview of the general market and the state of the economy. So it may be worth your while to attend some of these from time to time. Some seminars are provided free which can be a beneficial experience, just be conscious of the sales pitch that will almost always come at the end. View our presentations and upcoming events.
7. Watch TV
Channels to consider include Bloomberg, CNBC Africa and Summit TV. They all offer different angles and content. Bloomberg can be very busy during market hours, and you may find plenty of repetition, but this is a good channel for breaking market data. Summit TV is a much easier watch, especially after hours, and they offer local insights and education.
8. Browse the web
The internet has a host of free information available for traders and investors. You can get quotes and view charts on Bloomberg and Google Finance; get economic data releases from ForexFactory; learn the basics from the JSE and catch up on great statistics from Nationmaster. Get started here.
9. Ask questions
This is so simply, but often people are to scared to ask. Ask, and you shall receive. The more you ask the more you learn. And the more you explain something to others the more you improve your own understanding. Don’t be afraid to ask Google, but, as always, consider the source.
10. Choose and subscribe
Find someone who speaks your language. Subscribe to their services. We offer weekly correspondence to all traders in the form of charting, stock picks, comments and recommendations. Get in touch with us now.