How I Purchased My First Shares
If you are wondering where and how you can start buying your very first stocks on the ASX then read on my friends coz this is how I did it.
After many hours of Google Searches and listening to podcasts I had decided to take a punt and join some trading sites to see what would happen. I quickly found out that they require larger amounts of cash to purchase the stocks, even if they allow you to open the account for free many have minimum initial purchase prices. You must also take into account any brokerage fees that could make coming out of the trade on top near impossible.
My New Mindset
I have adopted a new way of attacking my many projects, when presented with an issue or possible road block that hasn’t actually happened yet I acknowledge it and let it go allowing myself to move forward.
An example of this is ” what if I get ripped off by a dodgey website and lose my money” or “what if I trade poorly while learning and lose a few hundred bucks ”
Get forked what if’s,
ya no bloody good filling my head with concerns and issues that would normally stop me from moving forward. Who cares as long as it doesn’t affect my family. Life is short and must be explored.
Getting Shit Done
That’s how I roll now fellas, so I joined up with one site I found fairly straight forward to use called IG link is below for you, this is provided by me and I Need to let you know that they are not paying me or affiliates with me in any way shape or form. I just want to take work out of getting started for you. They have low brokerage fees and the minimum buy amount on the first stock I purchased was around $90.00aud
Stock Scanning & Screening
After I had joined and had the power to buy stocks I needed to find a way to create setups that I could stick to for trading using the information I had gathered from Google and the podcasts for example, being able to use a program to search the ASX for stocks of a certain price range that had a certain percentage movement and a certain pattern etc. I straight up joined some facebook groups for day trading small caps/penny stocks and asked about scanners.
The one that seemed to be used was Trading View and the link is below for you again no payments or affiliate marketing between myself and them. Purely cutting out the crap for you.
There are training videos to watch and endless information on the net regarding setups and why you should have one or some and stick to them to minimise your loses and maximize your ROI ( return on investment)
I am still learning the site but did manage to buy 400 shares in the mining sector, I am super pumped to have purchased my own stocks and making that dream come true. These I will keep for around 4-6months depending on how they move, I purchased them for 20c each and will sell if they fluctuate up to $1 or I’ll hold if they are on a constant up trend.
If you want to get started this week and your impatient like me then this is one way to go about it. Obviously I am learning and making mistakes as I go, I am in no way offering you advice that is professional, I am purely just wanting to take you on the journey from living week to week to travelling and having cash money to spend on what ever floats my boat.
So don’t be a Nugget Muncher and get yourself amongst it people.