- Before start trading with real trading account – start with “Paper Trading”. Even many broker’s applications allows paper trading.
- Learn what is “Fundamentals Analysis” and “Technical Analysis” of stock market.
- You can use sites like www.moneycontrol.com or www.finance.yahoo.com to monitor/watch stocks. Certain “Paid” sites also provides updates by Mobile SMS/Text (Alert when stock is above certain price)
- Use Metastock (or similar) to monitor stock, patters
- You can
Two types of trading
- Intraday Trading
- EOD Trading (I like this)
- Stock IPOs
- Stock Options
- Mutual Funds / ULIPs
- Currency a.k.a Forex
- Fixed Deposits
I typically use Stocks, Mutual Fund, Fixed Deposits
Trading Pattern / Method I use
- I use fundamentals to invest – such as Yearly Results, Quarterly Results, Price Book Ratio, EPS etc
- I follow Stock Advice & Research Report and verify it’s fundamentals and invest.
- Still not successful in trading using Techinicals such as Candle pattern, MACD patterns, etc.
- As beginner, don’t jump into trading right away. Gain experience only by Paper Trading, at least for 1year.
- Once you know you are ready (after paper trading), invest small and improve your experience with real money – your target is 15% (which is better than Fixed Deposits)