Brokerage

This is why commsec is good to use.

 

Have you read this?
Obtaining shares
Specifically:

 

It is called a GTC order...good til cancelled and can have about a month expiry.

If you amend the price/qantity it is a new order and so new brokerage. But if you leave it for the month only one brokerage until order filled or expiry.

They also have good for day expiry which is obviously only good for day and any unfilled gets cancelled at end of day.

 

I trialled SelfWealth but didn't like it - it felt too "facebook" to me rather than a broking software - limited information available
CMC is cheap but seemed to act and behave much more like a online broker
Personally, I like and use CommSec

 

What you can do with Commsec ,as when you place the order it will set for around a month or 28 days..
One can also set the time offer period to 1 -2 -5 days down from a month automatically,that also gives you more control..Or as Warren Buffett tells anyone that will listen..
Quote..
"Price is what you pay"
"Value is what you get".
Also if you get a copy of this book from N E Renton .Even today with all the data outhere old -set in this book adjusts to the information available today..imho..
Renton's Understanding the Stock Exchange N E Renton Australian Seller | eBay

 

I've only been charge brokerage once the order is filled - not on putting the computerised offer in.

Still waiting for BHP to drop back down to $27 ...

 

Unless your considered a trader brokerage is part of the cost base (think legal fees for buying property). Only needed when you sell.

 

All good! First trade completed. Probably paid too much, but was only a very small amount to get the ball started & playing around the software. Nothing like actually DOING something to learn.

 

Congratulations, and you don't know you paid too much yet.
When you say trade completed, do you mean in and out? Or first purchase?
Care to share what it was and why?
Well done on DOING something you are now in front of 93% of the population.

 

Haha, sorry, I meant first purchase. Two, actually, but a total of under $2k, so no huge investment by any means. I think I'll keep them to myself just now, as I'm still very unsure of myself and my reasoning, but it was one small LIC and a bank. I think it was more or less just to get some rungs on the board & know what I'm doing so that when I DO identify something of really good value, I have some idea of how to go about it.

As an aside, I have a parcel of IAG that was given to me on the float. I've never done anything with them, and did a quick calculation. Oh my........they've grown to $10k. I'm pretty sure they were only worth around $2k or less when I got them.

 

If you treat these purchase like the IAG shares, put them in the bottom draw for 10 years then look at them you will be able to retire!
Well done

 

LOL! I'm pretty sure that nobody could retire on $10k of IGA & $2k of bank/Lic shares in 2 years time.

 

For Commsec, you don't need to have the funds ready in the CDIA (shares) account until the settlement date (2+buy date).
For example if you buy $2000 worth of AFI shares, you put a BUY order and assume it gets filled... you don't need to have the $2000 sitting in the shares account until the settlement, essentially you can have $2000 sitting in your offset account and owned AFI shares until settlement date.

Anyone know other online brokerage allow BUY to complete without needing the funds until settlement? FYI, I also use BellDirect but you need to transfer the fund into BellDirect account beforehand. e.g. if share prices dropped so much (like today), I can't buy using BellDirect but I can using my CommSec.

 

... and she's off ... now that you have skin in the game, you'll find yourself peering at the asx several times at day and riding every up and down ... just remind yourself that it's all about the dividends

 

It took me a while, but yep, looking at it constantly at the moment but I do understand that just like property, this is a long term play.