Ok, so this is what most of you are waiting for. You’re in luck coz this is probably the clearest and the most detailed procedure you’d ever find on the mighty net on how to buy stocks from COL.
The way to do this is to look at the image first and read the description that follows.
The email confirmation from COL will look like the image on the right. It will give you your username (which is actually your account #) and your password. It tells you to change your password when you log in. The web address of COL Financial is given so you either click that or type it on the address bar. I strongly advise that you DO NOT click a link inside an email EVER! No matter how much you trust the email sender, it’s always wise to just go ahead and type the site address yourself.
Type colfinancial.com on the address bar and it will take you to COL’s homepage. (You may want to add it to your ‘Favorites’ and place on your Bookmarks bar so that it’s easy for you to go back each time).
Type in your acct. # & password and click ‘log in’.
This (image above) is how your own Homepage will look like. You will see your account info including your initial deposit (Equity Value). (By the way, this is a real, new account I just opened for 1 of our kids, and I’m actually doing these actions for his account).
Click ‘Change Profile’ to change password.
As shown above, on the very bottom, click ‘Edit’.
Choose a password that’s easy for you to remember and hard for others to guess. Mine is the most famous password on earth … 123456 (weh!) lol
Type in your current password on the 1st box, and your new password on the 2nd and 3rd box, then click ‘Change Password’. You will then be asked to re-log in using your new password. Just follow Step 2 above.
We’re now ready to buy our first stocks. But before you do, make sure that the market is open. Market hours are M-F, 9:30am-11:30am, 1:30pm-3:30pm.
Hover your cursor to ‘Trade’ and click ‘Enter Order’. On this page, you would fill in 3 boxes: Stock Code, # of Shares and Price. If you are a member of Truly Rich Club, you already know, or at least have some idea, which stocks to purchase. But for those who don’t, well, what are you waiting for? You’re missing out on being truly rich! So, go ahead and click here! (plug in lang po)
Kidding aside, this tutorial is not just for TRC members but for all those wanting to be financially free.
Click on ‘Stock Code’ to get the 3 letter code of your company choice.
For this account, I’m buying Ayala Land, Inc. So, I type ALI on the 1st box. And all info about ALI will appear. Now, don’t get too overwhelmed by all the figures you see. The most important ones are those I’ve enclosed in boxes: Bid, Ask and Board Lot. All the rest, you can just ignore.
The 2nd box you will fill in is the ‘# of Shares’, so look at the Board Lot to know the minimum # that you can buy. In this case, the minimum we could buy is 100 shares. If we want to add more, it has to be in multiples of 100. Not 105, 110 or 150. It should be 200, 300, 400, 500 and so on.
On the 3rd box, put in the Price you want to buy the shares for. Now, always remember this: BUY at the Ask, and SELL at the BID. For easy recall, do the acronym B.A.S.B. (Up to you to find meaning of those letters, but for me it’s — Basta Ako Sexy & Beautiful! walang kokontra! :p
I will do a separate in-depth post on the subject of Bid and Ask, but for now, since we’re buying, let’s look at the prices on the ASK column. If you want an immediate execution of your order, always refer to the price on the first row coz that’s the lowest price being asked by the sellers. In this case, it’s 26.30.
Again, our order is 100 shares of ALI at 26.30/share, for a total of Php2,630.00. So, why is it Php2,652.79? Click on ‘Preview Order’ for details.
You’d see that our order is Php2,630 (26.30/share x 100 shares) + VAT and other charges amounting to 22.79 = Php2,652.79. Confirm order by putting your password.
This is the confirmation message you get once you confirm your order. And if you wanna buy some more, just click ‘Place another order’.
It’ll take us again to the order page. Note the remaining amount we have on our account (Php2,347.21). What can I buy with that amount? Again, if you’re a member of Truly Rich Club, you know that you should only trust giant companies like BPI, BDO, SMC, etc.
For this account, I’m buying BDO, so I write that on the 1st box.
The Board Lot says 10 so we could only buy in multiples of 10. And since I still have more than 2k on this account, I can afford to buy up to 30 shares (2nd box).
For the 3rd box, I should put 76.55 since it’s the lowest Ask price for BDO. But, let me show you what’s going to happen if I buy the shares at the price shown on the 2nd row (76.60), instead of the lowest price being Asked.
My total is Php2,320.74 including charges. We do the same process as we did with the previous order. Confirm by putting password.
Now, to double check our transactions or to see the details of our orders, hover your cursor to ‘Trade’ and click on ‘Trading History’. Since, we’re just checking today’s, just click on ‘Show Orders’ right away.
When you look at this table (above), read from the bottom coz that’s your very 1st transaction.
So, our ALI order was Accepted and Posted but not Executed. Why? Well, I had to call COL’s hotline #651-5888 to ask. haha. Like I said I don’t claim to know everything.
Apparently, my order was not executed at the ASK price I placed (26.30) because all the shares selling at that price were already bought (it’s 1st come, 1st served basis).
I had 2 choices then: either I wait till the market closes and see if another seller will offer ALI shares at my BID price of 26.30 OR cancel my order and just buy at the current lowest ASK price of 26.40. I went for choice #2. (My next post would be on ‘How to Cancel Order’).
Now, let’s take a look at our BDO order.
BDO was Accepted and Posted at 76.60 BUT Executed at 76.55. Remember that 76.55 was the lowest price being Asked. Meaning, even if you buy the shares at a higher price, your order will still be executed at the lowest Asked price.
And that’s how you buy stocks. Hope you learned something.
To end this tutorial, let me just show you how our Portfolio looks like. Hover your mouse to ‘Trade’ and click ‘Portfolio’.
Your ‘Available Balance’ is the total amount (deposit) you have on your account, including the amount you spent on your orders even if they’re not executed yet.
‘Buying Power’ is the amount that you can use to either buy or withdraw as cash. Meaning, it’s readily available for you to use. (Note that COL withdrawal has a process you should follow. Watch out for my post about it).
The ‘Market Price’ is the current price your shares is selling at. We bought ALI at 26.40 and now it’s selling at 26.35, so it’s actually a loss for me.
However, since we are not doing active trading but rather, long-term investing, it doesn’t matter if the prices go down in the days to come.
Why? Because we’re holding these shares for years — 10 years the least.
I will transfer ownership of this account when my son reaches the age of majority. And since I’m betting on giant companies like Ayala Land and BDO, I’m pretty sure they’d still be here and doing great by that time. (That’s accd to Bro. Bo).
So, no worries!
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Thanks & God bless,
P.S. The Truly Rich Club is a membership Club that Bro. Bo Sanchez had created to help people achieve Financial Wealth and Spiritual Abundance. It is a private group of individuals who have decided to do something about changing their beliefs and thinking—to gain the abundance mentality they need to change their lives forever. Bro. Bo provides them with the right tools, principles, and strategies to grow in their financial and spiritual life.