[Post 103]Learning investing/trading together part 20:How to purchase a stock?(Standard chartered)

Learning investing/trading together part 20:How to purchase a stock?(Standard chartered)

I mentioned before that i am currently using DBS vickers and Standard chartered as my brokerage.Recently, I have also sign up for FundSuperMart due to the low fees of 0.08% or a minimum of $10(but that's a story for another day)

This post will be on how to purchase stock with standard chartered.

So,why choose standard chartered as a brokerage?

• Brokerage charges for standard chartered online and mobile trades:0.20%, min $10
• 0.20%/100=0.002
• $10/0.002=$5000
• The minimum amount that one should invest in each trade should be more than $5,000
• The purchasing power will be updated immediately after you sell your stock!

How to set up a standard chartered account?

1. Head down to the nearest standard chartered bank branch 
2. Open up an saving account(For more information about the various saving account you can open with standard chartered,please refer to this link,Personally,i opened a E saver account where it require a min deposit amount of $1000)
3. Do open an securities settlement account with different currency(US,JPY) to have to option to invest in other countries market at no extra charge,specifically tell them you are opening an account to invest

 Onto the step by step guide on how to purchase a stock via standard chartered!

Step 1)Transfer money into your standard chartered account

How much to transfer? 

• Well, it depends on how much your budget to purchase those stock and whether you have enough in your bank
• Currently, the Brokerage charges for standard chartered online and mobile trades:0.20%, min $10
• DBS cash upfront charges 0.12% or minimum $10
• FSM charges 0.08% or minimum $10
• if you are investing up to $5,000, you can either use DBS Vickers or SCB or FSM.
• If you are investing above $5,000 and up to $8,333.34, use either DBS Vickers Cash Upfront or FSM.
• If you are investing above $8,888.34, use FSM.
• ***Note: You can invest in any amount you like it need not be $5,000, in my personal case I use either $3000 or $5000 or $7000

So you have decided the amount? What's next?

• Transfer the money, of course!

1. Log in to standard charted bank account,you reach the below page

2.Transfer Fund from your E$aver A/C to your SECURITIES SETTLEMENT ACCOUNT by clicking Transfer Fund(Red box)

3.Click Between Own Account

4.You will be asked to authenticate your account,after authenticating you will be brought to the transfer between own account page

Transfer to: Local Own Account

Account to be Transferred to: E$Aver A/C

Account to be Transferred from:SECURITIES SETTLEMENT ACCOUNT

Currency and Amount:SGD ,any amount that your wish to transfer(e.g 5000.00)

Description: None

5.Check the detail and click confirm(black box)

Step 2)Time to buy some stock!

6)Click MENU then click Online Trading

7.You will then be brought to the below page,the place order is at the right side of the page

8.Key in the counter code(e.g ES3) and Scroll down to check the detail of the bid and ask price

So, in my case I enter in the code: ES3(STI ETF)*Take note, this is different from the other STI ETF that you purchase with POSB invest saver(For more information about the difference between the two ETF, read here)

The terms are taken from this post, a while back,some important terms are...

Last

• Last action-how much was this share bought or sold for

Bid

• Bid-how much someone is willing to pay for the share(Someone want to buy the share at a price of 3.267)

Offer or Ask

•  Ask is the price a seller is willing to sell the share(someone want to sell his his share at a price of 3.275)

Bid qty

• Bid qty,someone make a bid to buy 100 shares at 3.267 for each share

Offer or Ask qty

• Offer vol is someone selling his 3200 shares at 3.275 for each share

*As taken from here: When a market is experiencing more buying volume than selling volume, it means that there are more traders buying at the ask price, which has a tendency to push the price up.

When a market is experiencing more selling volume than buying volume, it means that there are more traders selling at the bid price, which has a tendency to push the price down.

Chg or change

• For a stock or bond quote, change is the difference between the current price and the last trade of the previous day

Day High

• Today highest price for the stock so far

Day Low

• Today lowest price for the stock so far

Will continue at the next Learning investing/trading together post!

[Post 102] TipforThought: Tips on using LinkedIN and Advice for Fresh Graduates

Tips or hack on using LinkedIn

LinkedIn helps you connect to opportunities from job and business leads to staying informed about industry developments, an expanding or staying touch with your professional network.

1.Profile Picture

Start with uploading a profile photo that show your face and shoulder.Our profile show that member that are 14 times more likely to be viewed.Keep the photo professional, a vacation picture is not appropriate unless you are an travel writer.

2.A Interesting Headline

Having an interesting headline (that's more than your job title )is also helpful in describing what you do and how the value you bring.For example,instead of "marketing manager" ,consider " Marketer focus on lead generation and building brands ".

3.Create A Compelling Summary Of Your Experience And Achievement

Create a compelling summary of your experience and achievement -this section provide a quick overview of who you are and increase your chances of being viewed by 7 times

4.Participating In Professional Conversation

Your LinkedIn profile should be dynamic ,so stay active on the problem by participating in professional conversations.Think of it as an investment portfolio- you need to "invest "(engage your network on LinkedIn) before you can "reap dividends" (for example,getting a new job).

5.Signal Your Interest

If your're planning to enter an industry or area where you don;t have much experience in,signal your interest by following relevant topics,influencers and companies on LinkedIn. For example, if you're looking at DBS as a potential employer,start by following the company,its CEO Piyush Gupta(also a LinkedIn Influencer), and the Banking & Finance channel on LinkedIn .

6.Adding Volunteer Experience

Besides your professional achievement,add your volunteer experiences. This will add another dimension to who you are as a person and can boost your profile views by 6 times!

7.Recommendations

Lastly, get others to speak on your behalf, including recommendations from people you know and trust will add even more credibility to your professional brand

Advice For The Fresh Graduate Job Seeker

1.Think Hard On The Work You Want To Do Or Passionate About

Think long and hard about the type of work you want to do or are passionate about - your authenticity and passion will come through (or not) in job interviews.

2.Building Your Professional Presence

Building your professional presence or brands on social professional networks like LinkedIn.This is indispensable,as recruiters see social professional networks as top source of quality hires.If they are "fishing" on these platform ,you should be there too.

3.Highlight Other Experiences

While you may not have much professional experience ,highlight other experiences such as internships or volunteer experience on your LinkedIn profile.Showcase projects you did particularly well in to substantiate what you are capable of,for example, your final year project.

4.Do your Research

Lastly,do your research about the job you are interested in, and remember to leverage your networks to get a warm introduction instead of making a "cold call" application - employee referrals are rising a tip source of hire for recruiters.

Hope this help!