As you are enlightened about the wealth opportunities of the stock market and is eager to learn its inner workings. It is most likely that your first learning experience is through blog and video content.
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However, nothing beats the experience of getting your feet wet and be at the front row seat of the stock market scene. This is a necessary experience for all, though it can cost money if the decision is not backed-up by research and planning. Due to this fear of losing, many beginners seek the advise of support groups and draw their decisions based on the "Guru's" recommendations, which is sometimes if not most a blunder.
To be clear, there are many amazing Gurus out there both paid and free. You just really need to discern who is a legit one or not.
Now, back to the main topic of the beginner's toolkit.
The 4 Stock Market Tools of Every Trader and Investor
- The Philippine Stock Exchange website - This is the leading authority of the Philippine Stock Market (for obvious reasons). Companies that are publicly listed are mandated to post any updates to PSE. So, if you want to know any details of a certain company, then this is the place to go. https://pse.com.ph | https://edge.pse.com.ph/keyword/form.do
- Value At Risk (VAR) Calculator - All Stock Market traders and investors are in a way Risk Managers. You need to know your entry and exit prices. You also need to know how much you are willing to lose per capital investment. Value At Risk Stock Shares Calculator
- Buy and Sell Calculator - Once you know your disposable capital, you can start the buy and sell process. Take into account always the fees. Buy and Sell Calculator
- Peso Cost Averaging Calculator - Sometimes, when you are unable to exit a position and the loss is too huge but the stock is fundamentally sound, it is much better to just buy more shares to average the price down than selling at a loss. Average Down Calculator
As you gain experience and learning, you will eventually find other tools that you can add to your stock market trading arsenal. Do you have some tips and techniques that you want to share? Leave your perspective in the comments below.
"You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets."
Peter Lynch
- Your Life In Perspective by Ælfræd (Elf Counsel)
