Sunday, September 26, 2010

Why and How I Started Investing/Trading in the Stock Market

 Last year as an effect of the global economic crisis, the bank's interest rate on deposit accounts was reduced tremendously that my little savings deposited on my time deposit account earned a very minimal interest.  Starting from 5% annual interest, it dropped to as low as 2.5% annual interest.  A 20% withholding tax is still to be deducted from the meager earnings I get from my savings.


This situation pushed me to start reading books from financial experts.  I bought books written by Mr. Robert Kiyosaki and Mr. Colayco and registered to Bro. Bo's Truly Rich Club.  Having read the insights of these financial experts, my financial outlook in life changed.  I now understand the value of investing.

There are different investment vehicle available in the market but what really caught my attention is the stock market.  Before, my perception about stock market is that, only the rich with large amount of capital can invest in this market and that it's a very complicated and difficult thing to learn.  But when I started reading articles from Truly Rich Club regarding the stock market, little by little I was enlightened. 

Of course, I did not immediately plunged into investing in the stock market, I did a lot of readings first not only from Bro. Bo's Truly Rich Club but also from other sources.  I visited Philippine Stock Exchange website and monitored the stock's movement of companies I'm interested in.  I also visited CitiSecOnline website, the online stockbroker Bro. Bo recommends and I attended the free seminars they hosted.  In other words, I did a research on stock market's ins and outs (at least the basic ones) before I opened an account at Citisec.

Now, it's more than one year since I started investing/trading in the Philippines Stock market and I'm really happy that I did.  It's high risk, yes, but you can always develop strategies to counter the risks. 

1 comment:

  1. I've always wanted to learn about the stock market, but my fear is the risks involved. Now i am thinking i will get the books you read and maybe after sometime i can start too.
    This is a nice blog, i loved it. I will keep reading. Please take the time to visit my blog about: Anything:- http://thischapaa.blogspot.com

    ReplyDelete