The single most quality that separates men from women is they are better at managing risks.
Share market trading is all about managing the risks and making profits.
Need for financial independence, potential to make some quick money and long-term wealth creation possibilities seem to be beckoning women to stock markets.
If you are one of the ambitious women who are looking forward to make a living from the stock market, then here is our step by step guide which is going to help you at the initial stage of your stock market career:
Learn the basics of stock trading:
This is the first step towards stock trading. If you can read recipe books for hours, then you can sure read a few books or articles about stock trading. Learn the basics of stock trading, get accustomed to the terms that are used in the stock market. Gradually gather comprehensive knowledge about the process of stock trading and stock market analysis.
Choose a stock broker:
For trading in the stock market, you need to open your DEMAT account with a stock broker. Stock brokers execute buy and sell orders in the stock market on your behalf and they charge you a fee for this service. You can choose either a discount broker or a full service broker as per your preference. If you go for a full service broker then always go with a reputed broker who has the right skills and round the clock customer care service as you might need help at some point of time.
To receive a trading call per day free for a week, open your account with UPSTOX by clicking on this link – https://upstox.com/open-account/?f=JD3329 and email us your registered email ID and contact number at firstname.lastname@example.org
Online stock trading is the better option than the conventional trading. Online stock trading is convenient as you can trade with the few clicks and get real time price quotes every second. Brokerage is also lower in online trading than conventional trading.
When you are entering the world of stock market trading, it is better to start with a small amount. Always test your strategies with a demo account before applying them in the real market with the real money to monitor your performance.
Learn to pick up the right stock:
Stock selection plays a very important role in the stock market trading. You must do fundamental analysis before making a long term investment and technical analysis for a short to medium term trading.
Do not get emotionally attached to a stock:
Always trade with the trend and do not fall in love with a stock. It is not necessary that your favorite stock is always going to give you gains. When you see a down trend make a quick exit from that stock. Wait for it to gain an upside momentum again or find some other stock.
Spend some money on the financial advisor:
If you find it difficult to manage everything by your own then you can hire a professional financial advisor who will provide the effective help to manage your stock market trades and portfolio.