My First Investing/Trading Books

When I was learning about investing in the stock market, I needed books for more information. There are a lot of free pdf on the web but the books that I like, I want to have a hard copy of it so that my children maybe can read it someday. Maybe that will be the legacy that I'll be leaving them. I want them to know money management as it is very important. If only I have known that when we were kids, maybe I have chosen a different path. So, I went to check the bookstore and EXPENSIVE!! I searched for online bookstores that offers affordable books like amazon and I found at about BOOK DEPOSITORY. These are my first books. Jesse Livermore's Methods of Trading in Stocks - Richard Wyckoff This was my first ever book about trading. It has only 32 pages and can be read in one sitting but full of information. It tells about how Livermore's preparation before and after trading, money management, news, stocks to trade and pyramiding.   How To Trade in Stocks - Jesse Li

Bank Deposits & Fees

The common reasons why people put their money in the banks instead of keeping it in their personal safe are:

1) Security - storing all your money at home isn't safe due to unforeseen events such as robbery, floods or fire. With that in mind, when a bank goes bankrupt, any money you put in the bank is protected by PDIC (Philippine Depository Insurance Corporation) only up to P500,000. So make sure that the bank you will be choosing is insured with PDIC.

2) Convenience - you can access it anywhere - ATM, online, use it for shopping or paying bills etc.

3) Saving & Investing - putting your money in banks allows you to save and invest for your goals. Because the interest offered is minimal, they offer other products that can grow your savings such as time deposit and UITF.

Common requirements in opening an account are:

1) ID Pictures (depends on the bank. Usually passport size or 1x1. Have at least 2)
2) Valid Government ID (passport, driver's license, SSS/GSIS ID, Postal ID, PRC ID, OWWA ID, Seaman's book, HDMF/Pag-ibig ID, voter's ID, NBI clearance, TIN ID, Senior citizens's ID among others). Bring at least 2.
3) Utility Bill indicating the address used in the application
4) Initial deposit - below are the initial deposit requirements:
Upon opening of our accounts, we have to take note of the following fees:

*Dormancy fee - collected if there is no bank activity (deposit or withdrawal) within 2 years.
*Early account closure fee - collected if closed within 30 days from opening

**Fees& charges, initial deposit requirements, interest rates may change so make sure to inquire with your chosen bank.

** ITF (In-Trust-For Account 0-18 years old) - NSO, School ID (7 years old above), Picture

If you're going to look at all the above banks, requirements and interest rates are almost or the same. Thus, choose a bank that is within your reach or is accessible in times of emergencies.

Hope it helps! Happy Investing!


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