Stock Research

Who speculates at the stock exchange? What does the person who earns money at the stock exchange look like? I have asked this question to my friends. Here is the generalized portrait of the average trader.
Speculation at a stock exchange seems simple business. But this simplicity is deceptive. Having succeeded firstly, the beginner already considers itself as the invincible expert, operates without control - and melted out.
To stock jobbing come different ways, sometimes they are logical, but more often - on the contrary. The stock exchange is a chance at one stroke to receive a great lot of money. And money for many is freedom though very few people know that with it to do further. Having mastered exchange business, you become independent: live, where you want, work, where it is pleasant and without chiefs. The market is a delightful intellectual employment - chess, poker and a crossword puzzle all at once.
Stock jobbing attracts courageous and frightens off those who prefers a titmouse in a hand. The inhabitant lives steadily: breakfast, work, a lunch break; in the evening - the house, a supper with a bottle of beer, the TV - and to sleep. It is possible to earn additionally and he entrusts money to the banker on the savings. And at the stockbroker any hour is working, and it subjects the capitals to risk. The stockbroker descends with well-trodden track of the present and goes in uncertainty of the future. Desire to realize itself completely, your abilities, is congenital and also it is inherent in much. It also pushes people to measure swords at a stock exchange. Besides, speculating, it is possible to receive both sports pleasure, and considerable profit.
Good stockbrokers are usually hardworking and sharp-witted. They respond to all new. It is strangely enough that their purpose is not money. Their purpose is able for speculating. Then also money will be - as by itself understood. Succeeding stockbrokers tirelessly perfect the skill. To reach personal perfection for them it is more important than any money.
Stockbrokers from among those who are out of tune with itself, quite often search in stock jobbing for an outlet for the inconsistent desires. But if you do not know, to what you aspire, it can turn out as in an introduction: shoot oneself in the foot.
The layman overestimating the force, trying to win, by all means, should go on the big risk. Means, at the slightest turns of a stock exchange against it will take off from speculation.
The succeeding stockbroker is the realist. It realizes, that has, and that not. It clearly sees, that occurs, and knows how to act otherwise. It soberly estimates an exchange situation and, constraining emotions, builds practicable plans. Illusions are not for the stockbroker-professional. The layman, having done some unsuccessful operations and having lost is a little money, panics. Its representations about a stock exchange become, the further, the more mutilate. At losers it is a lot of imaginations about the purchase, sale and a choice of transactions. They behave as children who are afraid to pass on a cemetery or to glance at night under a bed, because the eyes of fear see danger everywhere. The stock exchange with its uncertainty excites freak of the imagination. From the losers, suffering a myth about exchange knowledge, it is possible to hear: “I have lost, because did not know secrets of speculation”. Many losers think, as if to succeeding stockbrokers any special secrets are known. These people do not know that to play at a stock exchange not and it is odd. It is much more complex to delete, for example, an appendix, to build the bridge or to assort action of proceeding. Good stockbrokers usually people sharp, but all is far not - intellectuals. Many did not study in colleges, and the some people even have thrown school.
Stock jobbing often involves the succeeded businessmen and people of liberal professions. Here a portrait of the average client of broker firm: it is forty-year married the man with higher education. Many have also the firm.
So why do these people who have succeeded in the business lose at a stock exchange? The matter is that there the keystone to success is covered not in special knowledge, not in any secrets and, certainly, not in formation. For success in work at a stock exchange the clear practical mind, the certain share of boldness, constant self-checking and aspiration to self-improvement are simply necessary.
             I don’t answer to the description absolutely, but I would like to try to speculate at the stock market, and (I hope) I will succeed.

I have written this blog for 1.5 month, but only several days ago I realize that I wrote about different foreign stock exchanges, but I’ve forgotten to write about the unique stock of my own country… About Belarusian Currency and Stock Exchange… And today I’ll try to correct it!
The portrait of open joint-stock company “Belarus currency-stock exchange”
The open joint-stock company “Belarus currency-stock exchange” has been formed in 1998 in accordance with the Decree of the President of Belarus from July, 20th, 1998 №366 “About perfection of system of state regulation of the stock market”. Founders of a stock exchange became National bank of the Republic of Belarus (a control share holding), Fund of the state property of the Ministry of Economics of the Republic of Belarus and a number of large banks of the Republic of Belarus.
The supreme body of management of open joint-stock company “Belarus currency-stock exchange” is General meeting of shareholders. The structure of shareholders of a stock exchange, except for founders includes banks, the broker/dealer subsidiaries of republic, etc. The Management of a stock exchange between the General meetings of shareholders is carried out by the Supervisory council.
As of today of open joint-stock company “Belarus currency-stock exchange” is the unique in republic trading platform on the basis of which the national system of the exchange trades on all basic segments of the financial market is created: currency, share and term. Except for the organization of the trades, the stock exchange carries out functions of the settlement depositary institution in the exchange market of not state securities, function of the operator of settlement-clearing system by all kinds of securities and tools of the term market, and also carries out registration of the transactions concluded on the over-the-counter market with stocks of open joint-stock companies and voucher “Housing”.
The foreign exchange market.
According to the Rules of exchange trade in the foreign currencies approved by the decision of Board of National bank of the Republic of Belarus 28/06/2001 №165 (read with 31/10/2003), open joint-stock company “Belarus currency-stock exchange” it is allocated by the right of the organization of the trades by a foreign currency.
The trades by a foreign currency at a stock exchange are carried out within the limits of Section of the currency market. The exchange trades are spent daily with use of electronic system of the trades. The cores currencies quoted at a stock exchange are: US dollar, Euro, the Russian ruble and the Ukrainian hryvna. The rates generated on results of the exchange trades, today are included into the category of the basic indicators of the currency market. On results of the trades the National bank of the Republic of Belarus establishes official rates of the Belarus ruble in relation to US dollar and ruble of the Russian Federation.
The total volume of the trades by all kinds of currencies for 9 months of 2005 was made 10.6 billion of rubles or 4 912 million US dollars in an equivalent.
Stock market.
According to the legislation of the Republic of Belarus for many securities the stock exchange is a unique admissible jail of transactions. To such papers concern: the state issue securities, bonds of National bank of the Republic of Belarus, the bond of local loans and the securities of the open joint-stock companies last an estimation of quality and reliability (listing) and admitted to the reference at a stock exchange. To participation in the trades by securities members of Section of the share market are supposed only. Transactions with securities are made in universal electronic trading system. The opportunity to participate in the trades with use of the automated workplaces located in trading halls of a stock exchange, or through the removed trading terminals is given to members of Section of the share market. The trades by securities are spent daily in following modes: “Continuous double auction”, “REPO (the fixed pricing)”, “REPO (free pricing)”, “Discrete auction”, “Forward transactions”, “Simple auction”, “Simple auction REPO”. The given modes are effectively used for primary accommodation of securities, the organization of their secondary reference and maintenance of processes of privatization.
Now in sector of the state securities and securities of National bank auctions of the Ministry of Finance on accommodation of the state securities are spent, within the limits of the secondary reference transactions in modes “continuous double auction” and “REPO” are made, the National bank of the Republic of Belarus on a regular basis spends simple auctions REPO. On the given segment of the market the institute a market-makers functions. Since September, 1st, 2005 the index on the market government securities/short-term bonds of the National bank of the Republic of Belarus pays off and published.
In sector of not state securities transactions with stocks and bonds of subjects of managing are made at primary accommodation and the secondary reference, and also privatization transactions. The fund of the state property of the Ministry of Economics of the Republic of Belarus uses exchange technologies for the organization of auctions on sale of actions belonging to the state for a foreign currency and the Belarus rubles, “discrete auction” and other accessible modes of the trades realizes state blocks of shares of stocks in a mode. Since October, 7th of 2005 in sector of not state securities the regular trades by bonds of banks have begun.
Participants of the trades can make transactions with not state securities with following conditions of calculations: T+0 (delivery of money and securities in day of fulfillment of the transaction), T+n (delivery of money and securities in the day certain by participants during the moment of fulfillment of the transaction), and also the transactions made on conditions REPO.
The total volume of the exchange trades by securities of all kinds for 9 months of 2005 has made 7.0 billion of rubles, or 3.2 billion of US dollars.
According to the legislation of the Republic of Belarus the stock exchange carries out obligatory registration of all accomplished on the over-the-counter market of transactions with securities of the open joint-stock companies, and also since January, 25th, 2005 transactions with nominal privatization checks “Housing”. For nine months of 2005 by a stock exchange it has been registered 1066 over-the-counter transactions with stocks of open joint-stock company for a total sum of 15.96 billion rubles (7.4 million of US dollars) and 33653 transactions with  voucher “Housing” at actual cost of 19083,7 million rubles (on a face-value 24.0 million rubles). For service of processes of registration system BEQAS functioning on the basis of the Internet-technologies is used.
The term market.
Since October, 2004 the stock exchange has started trading by financial tools of the term market on a constant basis. The exchange trades by tools of the term market are spent in electronic trading system every working day simultaneously on all tools in a mode “continuous double auction”. As participants of the trades act the members of Section of the term market. Calculations under made transactions are spent in uniform settlement-clearing system, in which function of a clearing bank carries out National bank of the Republic of Belarus, and function of clearing - a stock exchange. The toolkit of the given market is presented by future contracts on rates of foreign currencies and interest rates in the market of the state securities.
Information work.
The major principle of the organization of activity of a stock exchange is development of information technologies and increase of a transparency of the financial market of republic. With a view of realization of the given principle by a stock exchange it is created and successfully functions three basic automated information products: the official Internet-site of a stock exchange, the Belarusian automated quoted system of a stock exchange (BEQAS), Information system “Stock market”. The official Internet-site of open joint-stock company “Belarus currency-stock exchange” is the central element of system of disclosing of the information by results of activity of a stock exchange in the currency, share and term markets.
“The Share market” accumulates data about a condition and the processes occurring on a republican securities market. The basic suppliers of the information are open joint-stock company “Belarus currency-stock exchange”, Committee under securities at Ministerial council, National bank, the Ministry of Economics and the Ministry of Finance. Except for the data, directly concerning the stock market, in system the information on a condition of the currency and monetary market is concentrated; contain actual financial and social and economic news of Belarus, the CIS countries and the world.
BEQAS is the information-quoted system functioning on the basis of the Internet-technologies, intended for search of the counterpart for fulfillment of transactions with various kinds of securities, and also serving processes of obligatory registration in the unorganized market of transactions with stocks of the open joint-stock companies and the nominal privatization checks “Housing” accomplished on the over-the-counter market. For today the system is the only thing in republic a high-grade source of the information on a condition the over-the-counter market of the Belarusian enterprises.
Besides the stock exchange acts as the supplier of the information for republican news agencies, and also the leading mass-media focused on illumination of world economic processes.