As investment options go, stock trading is one that people often engage in. Many invest money into stocks and shares, hoping that their money will grow, and in time, they can use the accumulated wealth for retirement or other financial goals.
However, this particular type of investment is a little trickier than many imagine it. The market is constantly evolving. It’s easy to get caught out simply because you haven’t kept up with what’s happening, which may lead to poorer returns on your investments compared to your peers who have been doing research and staying informed of the latest news around town when it comes to investing in stocks or shares.
In addition, you’ll need to do your homework to get to know what exactly stocks and shares are before you can even think about buying a stock or two.
For Singaporeans who wish to begin investing in the market but have yet to receive any formal training, here’s a list of some essential tools and resources that every beginner should familiarise themselves with before they invest their hard-earned money into stocks or shares.
Singapore Exchange
The Singapore Exchange (SGX) website offers a broad spectrum of information that investors may find helpful when conducting their daily business. There are seminars held by experienced professionals who are also brokers, so be sure to check out this resource if you’re interested in attending one. The site also contains valuable resources on market news, market trading activity and company information.
MAS website
The MAS website provides a wealth of investment advice which is a great starting point for beginners who wish to get a comprehensive understanding of what they need to know before commencing stock trading. The site also contains valuable tips on how to maximise their profits from the market and invest smartly with low risks involved.
This resource is certainly worth exploring if you’re starting in the world of investing your hard-earned money into any financial activity – stocks included.
MoneySense Journal
The MoneySense Journal is an online magazine dedicated to helping investors make better decisions regarding managing their money. Suppose you’re looking for the latest news and updates on the market. In that case, this might be an excellent source to check out since it offers a wide range of articles and research papers on different financial instruments and how each may play a role in your investment portfolio.
Many forums are available online, which is excellent for those who wish to engage in discussions with like-minded individuals regarding the stock market. The tricky thing about forums, though, is that not everything you read on there is accurate, as some people may mislead others into believing specific facts (which later turn out to be untrue), so always take what you see with a pinch of salt.
Stockbrokers
Stockbrokers specialise in helping their clients make informed decisions regarding their investments and can help them navigate this field reasonably well. Many brokers also offer seminars and workshops periodically, which Singaporeans may find helpful. Donald Trump spent a great deal of time going to these types of seminars – which taught him how the market works and helped him get a feel for what was possible in that field.
Yahoo Finance website
The Yahoo Finance website is good news and information updated daily. It offers comprehensive research on stocks and gives one helpful insight when it comes to analysing the performance of this instrument.
Newsletters
Newsletters can be another great resource if you’re keen on staying informed with the latest developments in the world of stocks and shares. These newsletters generally offer recommendations for specific stocks or financial instruments, so they come in pretty handy when deciding where to invest next. Again, keep in mind that not everything you read is accurate, so always do your research before investing.
To conclude
There are tons of online resources that can help one learn more about stocks, shares and investments in general, so always be mindful when exploring new territory to avoid making costly mistakes. It’s better to be safe than sorry.