The
world of trading might feel like a huge scary unknown if you are new to the
market. But there are a few simple rules every beginner should know and follow.
It will take years of trading to become an expert in handling the market, but
beginners can tread on the trading waters confidently by remembering a few
things.
Trading Guide for Beginners
If
you are new to online share trading in India,
the first thing you should remember is you cannot become an expert overnight.
Contrary to what many people believe, it is also not possible to become rich
overnight. Investing and trading in stock market requires a lot of discipline
and patience. You should remember there is always a chance to lose money when
trading. Before you start trading online, you should find the best online
trading platform that is suitable for you. When choosing a trading platform,
remember to look for the following points.
· Execution Speed –
The speed of execution will matter a lot, especially in day trades where the
volume of transaction is high. Small changes can make a lot of difference to
the profits and losses.
· Customer Service –
Make sure the online trading service provider has dependable customer care.
·
Ease of Use &
Navigation – The platform should be user-friendly and the navigation should be
intuitive. Before choosing a platform, open the platform and try navigating it.
· Order placing
facilities – The platform should have different features to make the trading
life easier. One such useful feature is the facility to place orders out of the
market operating times. Other features like access to research and analysis is
also useful.
· Reliability – The Company
should have a reputation of being reliable. You should be able to rely on the
platform to perform the tasks you have set.
· Accessibility- The trading
platform should be accessible from your computer, tablet or Smartphone. You
should be able to carry on trades over phone or in person too.
Once
you have chosen a platform to trade online, you should start your trading
experience after a bit of research. There are two kinds of trades you can
perform - day trades and long term trades. In day trading, the time your money
is in the market on a particular stock will be less. A trade will never be kept
open when the market closes for the day. The chief difference between day
trading and long term investment is that, the profit in day trading comes from
the volume of transactions. The change in the market value of a product might
be less, but the volumes will help you achieve profit. You should make sure
that the commission the broker charges is suitable for day trading activity.
Whenever you are trading, ensure you have a clear head. Never perform trades when
you are under emotional or physical stress or alcohol influence. Never buy a
stock where you have emotional connections.
Discipline is an important part of
trading. By being regular in the trading world will help you understand the
volatile market better. There is no sure shot way to guarantee the stock you
invest in will perform well. So, it is advisable that you invest money on which
you have no dependence for essential payments.
Hi. I’m Designer of Blog Magic. I’m CEO/Founder of ThemeXpose. I’m Creative Art Director, Web Designer, UI/UX Designer, Interaction Designer, Industrial Designer, Web Developer, Business Enthusiast, StartUp Enthusiast, Speaker, Writer and Photographer. Inspired to make things looks better.
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