Newbie questions and taxation
#1
What should I do before I start doing stock market?
How much capital is needed?
How do taxes work with stock market?
Would I need a new TIN aside from my employment TIN?

HuhHuhHuh

I'm a complete newbie and have no idea whatsoever. Zero knowledge. Tongue

The forums gives out a pdf after you register here but it doesn't even load. Rolleyes

But if someone is good enough to give the steps in starting stock market starting from zero capital, that would be great. Heart

it should go something like:

1. earn up to X amount of money
2. find x broker
3. file x taxes etc..

(The steps I provided is just an example please provide your own based on your knowledge.) banana cheers!
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#2
(07-07-2014, 10:11 AM)sidlak Wrote: What should I do before I start doing stock market?
How much capital is needed?
How do taxes work with stock market?
Would I need a new TIN aside from my employment TIN?

HuhHuhHuh

I'm a complete newbie and have no idea whatsoever. Zero knowledge. Tongue

The forums gives out a pdf after you register here but it doesn't even load. Rolleyes

But if someone is good enough to give the steps in starting stock market starting from zero capital, that would be great. Heart

it should go something like:

1. earn up to X amount of money
2. find x broker
3. file x taxes etc..

(The steps I provided is just an example please provide your own based on your knowledge.) banana cheers!

>>>What should I do before I start doing stock market?
Equip yourself with knowledge. Online brokers usually give out free seminars. You can attend one of these.

check this thread>>> http://www.stockmarketpilipinas.com/thread-1365.html , this is the reply that I made to a query similar to yours...

>>>How much capital is needed?
Some online brokers allows you to open a trading account with them for as low as 5,000. The profits you can make will depend on your skill/knowledge and the size of your trading account. Also remember that the more money at stake, the bigger the loss especially if the trade doesn't go your way.

>>>How do taxes work with stock market?
Taxes/fees are already deducted automatically when you do a buy/sell transaction.

>>>Would I need a new TIN aside from my employment TIN?
Use your current TIN. You'll probably use this TIN for the rest of your life.

Again, don't only think about the money you can make. Also think about the money you can lose if the trade doesn't go your way.
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#3
First of all, you need to understand what you want to get from Forex.
If your answer is quick and easy money, then it's too early for you to start trading.
The first step is to download or buy books on technical and fundamental analysis. Read them.
The second step is to choose a broker. Think in advance what assets you want to trade, what spread and swap you want. According to these criteria, choose a broker for yourself.
The third step is to get a demo account. Without a demo, few people were able to save their money.
The fourth step is to trade on a demo for a very long time.
When you have an understanding of trading, then you can go to step 5.
Top up your account with a small amount, and then try to withdraw it. If everything went without problems, then I advise you to do so a second time. And only then to top up your account for the amount that you wanted initially.
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#4
What do you mean by zero capital here ? It will not work at all with zero capital, simply because of that and that's really it. So please try to acquire some money before using some broker. Broker should be regulated within your country, I assume it's phippines anyway so in case of some problems you could contact some authority basically for some money problems anyway. As well as it depends how do you incorporate anyway with all that matters for example, he also should advice you how to pay less and less taxes anyway no matter how you put it. Also there is no gurantee that you even earn something or will earn at all. Stocks and Forex are not guranteed income opportunities anyway so go figure.
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