“Stock Market is a device for transferring money from the impatient to the patient”-Warren Buffett
When you read these words by Warren Buffett,you actually realize why so many people lose money in the stock market.There are many reasons one of which is Being IMPATIENT.
Trading requires patience which 90% of people lack and this is what creates volatility in the market.
The second most important highlight for trading is KNOWLEDGE.
Half knowledge is always dangerous.
Never trade without having enough knowledge and never rely on a broker for providing you with knowledge.Anyone can teach you and make you understand how things work but it is your knowledge that you have to imply ultimately.
Remember one thing-Stock Market is too vast & you can never have enough knowledge,you just have to keep learning more and more everyday.
There are tons of options available these days from learning basics to trading.
Just take each step at a time and be loyal with your learning.
1.ZERODHA VARSITY provides free modules for beginners who wish to learn about stock market.They have explained each concept in a very easy to grasp way and any laymen can go through it.
2.Investopedia newsletter subscription is another informative and easy way to learn.Informative because along with the lessons you also get news about the latest trending stock for the day plus Investing basics and many more perks.
3.YouTube-There are tons of channels you can subscribe to namely,Trade Academy,Investopedia,Trade Hero,Moneybee,Stock Channel etc. Go through 5–6 videos to understand what is flexible for you and what can suit you.
4.StockEDGE app can provide you with basic knowledge of Investing,Trading,Economic terms and many more.
5.Khan Academy Videos.
These were some of the suggestions which I have been using to learn myself but as I said above there are tons of other options too but you have to surf and do your research for that.
After you have sufficient knowledge try virtual trading rather than actual trading.Learn Technical and Fundamental Analysis properly before beginning the actual trading process.
Through Virtual trading you can have real time trading experience which will amp up your confidence.
After going through all these steps you can open your DEMAT and trading account through any broker you prefer.
The only two things you require while learning this great investing option is PATIENCE & KNOWLEDGE.Then you are good to go.
ALWAYS LEARN BEFORE YOU EARN!!!
BY ALISHA DAS
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