It’s good to hear that you have opted to invest in stock market. Before you go ahead, you need to take a well-measured approach to ensure you’ve covered all the aspects of trading.
The first step of stock trading is leaning some of the best and important techniques and strategies. Also, I’d suggest not to try and learn too many techniques. Just learn few techniques you feel comfortable with and make your own strategy based on them. That’s the best way to go ahead.
The best place to learn trading concepts is NSE Paathshala. They have loads of videos and resources to help you understand basics of Stock Market Trading in India.
For advanced level training, you need to consult some reputed firm that teaches trading. Though you can also find some free content over the internet. YouTube too has lots of videos prepared by trading pros. You can watch the videos of this Webinar Series for free and learn few basic trading concepts.There are a bunch of bloggers as well who regularly write about stock market and tips. You should consider following some of these bloggers for some genuine and useful content. Here is a list of some well known Trading & Investment bloggers.
Here are few basic pointers that you must keep in mind before starting your trading journey:
- Plan the amount you want to invest in stocks, estimated returns you expect and estimated time to achieve those returns.
- Open a Demat and Trading account with a broker. Choosing a smart brokerage firm is also important, search and filter best stock brokerage firm, with my experience I prefer Zerodha, you can open account with 300Rs basic expenses. Link is here Open An Account Now.
- Trading i s a real-time experience, hence you need to be active in learning this knowledge via real-time trading. keep following NEWS from moneycontrol web and CNBCTV18 channels via TV.
- Refer blogs on learning of smart trading and also be updated to day to day markets movement.
- Prepare a trading strategy based on the techniques you learnt.
- Prepare a trading portfolio to keep record of your trading activities.
- Do not keep switching between strategies regularly. Test your strategy for at least 6 months.
- Do not fall for each and every tip that you get. Do your own research.
- Last but not the least, Plan your Trade and Trade your Plan.