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Sitemap Contact Us Login. There are a number of important steps to undertake and issues to consider. This is the main reason why it is so important to document your investment strategy — it is your business plan for your investing business and sets out your goals and objectives and how you are going to reach them. Your investment directshares free brokerage trades will act as a guide or reference point for all your decisions throughout the investment process. Given that your investment plan is going to be the blueprint for your investment decisions, some consideration needs to be given as to what needs to be included.
There are no hard and fast rules but the following list could be used as a starting point: There are a number of investment plan examples available but as investors we are all different so what works for one person may not work for you.
Below we have listed a few good books that talk about investing plans and provide examples of how they may be structured.
Do your own research and reading and develop a plan that will suit you: Smart Trading Plans - Justine Pollard. Trading Secrets - Louise Bedford. Here are some links to a couple of sites that provide free templates. Note they say trading plan templates but this can easily be adjusted to investing depending on your timeframe. Also note that you may have to register by providing your email address. Develop your trading plan.
Trading Plan Template developed by Tim Wilcox. Before you put your hard earned capital into the market you may want to consider putting directshares free brokerage trades you have learnt into practise by a process called paper trading. This is where you approach a practise investment just as you would a real investment but without committing real money. The ASX have a great paper trading article. They also run an ASX Trading game which you could consider. Directshares free brokerage trades an investor you directshares free brokerage trades going to need information to help you make your investing decisions.
Note that the AIA does not make recommendations on any products or services, it is up to you to do your own research to directshares free brokerage trades what resources are going to suit your investing style and budget. Your broker website should be able to provide you with a wide range of information, usually free of charge, directshares free brokerage trades you open directshares free brokerage trades a brokerage account. Typically the type of information you can access consists of:.
Other brokers would look fairly similar. Incredible Charts provides no cost charting software which is internet based and allows you to access charts of Australian, UK and USA stocks as well world indices.
Because it directshares free brokerage trades internet based you have no data loss or data management issues. There is also a subscription version available. Incredible Charts is an excellent free software package to get your started.
The ASX site is a great free resource tool which allows you to do detailed searches on prices, announcements and basic charting. It is also an excellent resource for further education on all share market related topics. It is important to know what functionality you need before you purchase anything so always try a demo version if possible. Free data is available but be aware that this data may not be reliable. Moneybags did a review of software packages and while the prices are a little old, the checklist and process and comparison table are all still valid — well worth a look as a starting point for your own research.
There are a range of fundamental software packages available for purchase. Three that stand out are:. Stock Doctor empowers stock market investors with professional fundamental analysis and portfolio management tools for informed investment decision-making. Combining Financial Health directshares free brokerage trades of more than 2, ASX listed companies, professional stock screening and selection tools and unlimited analytical support, Stock Doctor gives you full control over your stock selection decisions within an objective and disciplined framework.
For more information visit the Stock Doctor website. For more information visit the Team Invest website. Based on a value investing methodology and information gathered by a team of analysts, MyClime provides you with a combination of key company data, in depth company reports and valuations. It establishes how much a stock is worth to allows you to determine whether the current market price accurately reflects the valuation, and presents an opportunity to buy, hold or sell.
For more information visit the MyClime website. Do you have a written investment Plan? Should you consider paper trading? How do you source your information? Do you have a written investment plan? In whicy type of instruments are you going to invest? What timeframe are you going to use to make your buy and sell decisions? How much of your capital are you going to allocate to each investment?
What are your profit objectives? How much of your capital are you going to risk on each investment? How are you going to manage your individual investment parcels? What criteria must be met before you initiate an investment? What criteria are you going to use to determine your exits? What tools are you going to use for your investment decisions?
How do you source your information As an investor you are going to need information to help you make your investing decisions. Broker website Your broker website should directshares free brokerage trades able to provide you with a wide range of information, usually free of charge, when you open directshares free brokerage trades a brokerage account.
Typically the type of information you can access consists of: Free charting software Incredible Charts provides no cost charting software which is internet based and allows you to access charts of Australian, UK and Directshares free brokerage trades stocks as well world indices. Directshares free brokerage trades stock exchange The ASX site is a great free resource tool which allows you to do detailed searches on prices, announcements and basic charting.
Charting software Good charts and data are the basis of technical analysis. Sourcing fundamental information Directshares free brokerage trades are a range of fundamental software packages available for purchase. Three that stand out are: Stock Doctor Stock Doctor empowers stock market investors with professional fundamental analysis and portfolio management tools for informed investment decision-making.
MyClime Based on a value investing directshares free brokerage trades and information gathered by a team of analysts, MyClime provides you with a combination of key company data, in depth company reports and valuations. Brisbane website design Jellygnite.