How To Become A Great Stock Trader?
There is no ordinary day or routine in markets, so if you are looking at becoming a great stock trader, tighten your belts, exercise your abilities, and focus on the goal. To begin with, a stock trader is an equity market player who takes a short-term view of the markets and is willing to tide over the changing waves of the markets in real-time. A stock trader takes shorts more frequently than a long-term investor who believes in reserving space and playing it slowly.
Therefore, speed and frequency come to many more risks and concerns. How does one overcome these and at the same time continue to remain successful as a trader? Firstly, don't become a run of the mill to achieve this.
The following should be your partners forever:
Adaptability With Consistency:
Remember you are dealing with a dynamic environment, so not necessarily one trading skill or technique or plan would fit into all circumstances. Adaptability with consistent reviews and improvements would enable you to sail through with confidence and determination.
Blend Optimism With Realism:
The famous saying "All that glitters is not gold" fits best into the market environment. While as a stock trader, you should be an optimist, you should not forget to keep an eye on the ground. The winds of change blow faster there than anywhere else. There is no room for regrets and breakups but a lot of space for new finds and multi-strategies.
Drive Actualism Into Learning:
When the learning goes strong, so does the earning. Be an avid learner always, and remember a well-researched, informed, and fact-based move in the capital markets weighs more and has higher chances of gains than just a sudden jump to earn those brownie points that last for a few hours. The critical role is to engage an informed stock market expert team, choosing them wisely.
Engage Expertise That Empowers:
Do not settle with the ordinary but choose a market expert and a trading plan that suits you and your pocket. Remember that trading is a revolutionary process involving discipline, accountability, persistence, and, most importantly, a journey of empowerment.
Define Risk Exposure:
Trading is all about managing risks and knowing your limits of exposure to managing the volatility in the markets cautiously. It is essential to always consider the worst scenario in mind before chalking out risk-taking ability or stopping loss. Stop-loss is a predetermined risk level that a stock trader is willing to take into the trade. Even if bulls are roaring, a stock trader should always have a stop loss in place.
Treat Trading As A Business:
There is no room for emotions, just like a business. A strong trading plan backed by a risk strategy is what one should always look at when dealing with stock markets. A stock trader should also know when is the time to stop trading and hibernate.
At Sharekhan, we have been a guiding force for entry and established stock traders, enabling them with knowledge, commitment and support that makes them roar and not crawl into the capital markets.
Our 20+ years of capital knowledge journey has made us a preferred and reliable stock market research, analysis and portfolio manager partner for traders.
We follow a step-by-step approach to develop customised trading plans that suit each trader's requirements and capital. Our vast human network of 650+ service managers, 3000+Sharekhan Centres and a reach of 540+ cities make us omnipresent in all formats to serve you better.
Our 90-day course program called Sharekhan ROAR is designed keeping in mind the requirements of early investors/stock traders. The program provides investors/traders with a platform to learn about the daily nuances of the capital market imparted by seasoned market experts. To date, we have more than 74,000+ users registered for Sharekhan ROAR.
Understanding the current scenario, our program is adaptive with 100% online with dedicated instructors helping you solve your doubts in real-time. The program's success rate has been encouraging, with 70% of our users reporting that they were able to start trading independently.
At Sharekhan, we aim to enable you to trade better and more seamlessly. From our sophisticated app to experienced portfolio managers, we strive for a more improved experience for our partners.
If you are looking to gain trading skills and build a robust stock portfolio to grow steadily, your search is over.
Sharekhan Is Here to:
- Keep you ahead with knowledge
- Ready you to take challenges at ease
- Prepare you for sustainable growth
- Enable you with technology
Sharekhan serves you with a robust offline and online trading network so that "no coverage" is a one-time thing for good! Happy Trading!
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)