“Amateurs think about how much money they can make. Professionals think about how much money they could lose.”–Jack Schwager.
Indeed one of the finest statements shared by an expert. Stock trading is not only all about how to make money but also about understanding the market dynamics and risk appetite. There is no doubt that every individual has a different capacity to bear the risk or loss. So, if the footprints of a single investor are followed to manage the risk, there are chances that the investor might end up making more losses than profit.
For many, learning about stock trading is all about trial and error, experimenting, and experience. So, if you are a beginner in the stock market who is eager to invest and earn better, then let us look at the top ways to start learning about stock trading.
Learn About Stock Trading
How to learn stock market trading in India? So, if you are also looking for an answer to this question, then here are the top ways listed below for you to learn about stock trading in the comfort of your home. So, let’s get started:
1] Start with some books
There are hundreds of books on stock trading available in the market. These books are perfect for beginners as well as experts. From explaining the strategy to describing the real-life examples, these books are filled with detailed information that can help you understand the stock market basics, trading patterns, technical tools, and some tips to help you earn better and avoid losses. Indeed, a book is one of the most inexpensive ways to understand the stock market. It can also be your starting step to start the stock trading journey. The best books to read are:
- Trading Mastermind by Zebra Learn
- A Beginner’s Guide to the Stock Market: Everything You Need to Start Making Money Today by V
- Market Wizards by Jack D. Schwager
- How to Make Money in Stocks: A Winning System In Good Times And Bad by William J. O’Neil
- Getting Started in Technical Analysis by Jack Schwager
- Japanese Candlestick Charting Techniques by Steve Nison
- Encyclopedia of Chart Patterns by Thomas Bulkowski
2] Read through articles
With the trend of article writing and blogging rising high, you can get amazing information about stock trading through articles. You can find stock market knowledge and information in articles published in business periodicals, on business websites, and in other places. You can regularly visit and read articles on numerous renowned websites and blog pages. This is an excellent approach to learn about the stock market. Additionally, you can subscribe to some experts and receive daily insights on stock trading, which can be helpful. The top blogs to follow are:
- Trade brains
- Fundoo Professor
- Get Money Rich
- Vantage Point Trading
3] Study successful traders
One of the best ways to get information about stock trading is to study the successful traders in the industry. Traders like Jesse Livermore, William Delbert Gann, Nick Leeson, David Tepper, and others are truly inspirational. Reading about them is going to be full of information. Also, every successful person’s narrative contains some tales and valuable lessons regarding market trading. Beginners can learn from the experiences of successful traders and apply them to their stock trading adventure. Most of the successful traders have launched courses based on their experience which is an added benefit. Top successful traders to follow:
- Ashu Sehrawat
- William Delbert Gann
- George Soros
- Richard Dennis
- Vijay Kedia
4] Find a mentor to guide you
Having a mentor guide you through the stock market will surely be a big boon. There is no limit as to who can be this mentor. It depends on your personal choice. A mentor can be a relative, a friend, a coworker, a former or present lecturer, or anyone who has a basic grasp of the stock market. When the market gets tight, a good mentor is willing to answer questions, offer assistance, suggest helpful resources, and keep spirits up. All successful traders, past and present, had mentors throughout their careers. A mentor’s knowledge can benefit you during your early days as a trader. You must be cautious about who you choose as a stock market mentor since a mentor with only a smattering of information might lead to devastating outcomes. You can start your journey as an intern under your mentor.
5] Get some paid subscriptions
There are various firms that can offer you paid subscriptions. One of the most important parts of learning about the stock market is that a beginner should focus. But you must, however, only consider it for educational purposes. Beginners can learn new things about the market by observing and studying specialists’ picks. You will be able to comprehend the rationale behind the stock selection for trading and investment. Before subscribing to any paid service, one should carefully analyze the service provider’s offerings. You should avoid subscribing to any random service that isn’t real or managed by random social media pages. Check the credentials and reliability before making payment for the subscription. Start with a monthly subscription first, and if it goes well, you can move ahead with a long-term subscription. The best subscriptions to try are:
6] Online courses and webinars
With technology booming and online courses becoming a trend, there is no limit to what you can learn. From simple accounting to understanding the stock market and analysis tools, you can select from hundreds of things. Platforms like Udemy, Coursera, LinkedIn Learning, eDx, and various other platforms like Harvard offer the opportunity to learn the stock market online. Additionally, there are multiple webinars, seminars, and even Zoom meetings conducted over a regular interval that you can book as well. Participating in live sessions will allow you to share your concerns and ask questions. You can gain most of the seminar information from the social media platform, which is a great benefit and can save you from feeling left out. So, opt for online courses and seminars as much as you can. You can select from any trading courses or trading certifications to start with. The top online courses are as follows:
- Certified Stock Trading Programme by Zebra Learn
- Stock Market Specialist Course by Henry Harvin
- NSE academy certification in financial markets
- Diploma in Technical Analysis course by Nifty trading academy
7] Follow the market
Following the market is one of the best ways to learn about the stock market. You can create your watchlist and keep an eye on the stocks added to it. This way, you will be able to learn more. Additionally, making some predictions on the price movements based on the scientific methods and by using proper tools can be a great help before you jump into the real market to start stock trading. Beginners can also follow the stock market and learn stock market basics by watching television. They must devote at least 15 to 30 minutes per day to watching business channels. Beginners can study and discover which stocks can provide earnings through trading and investment by watching the market through websites and television channels.
Please Note that the following market or the suggestions should be made only after making a detailed analysis at your end.
8] Paper trading
Theoretical learning is not fruitful until you gain practical experience. But when it comes to money, you cannot dive into the stock market and start trading as there are chances of making a loss. This is where you can go for paper trading. A paper trade is a simulated deal that allows investors to practice buying and selling without putting their real money at risk. A paper trader keeps track of hypothetical trading positions, portfolios, and gains or losses by hand while learning. Most practice trading nowadays is done with an electronic stock market simulator. Simulated trading can help investors and traders get more comfortable with order types like stop-loss, limit, and market orders. Many platforms also offer charts, quotations, and news feeds.
9] Open the Demat account
Once you are done with all studying and information gathering, it is time to put the knowledge to use. For this, you will be required to open a Demat account. The primary need for trading in the Indian stock market is to open a Demat account. Beginners can benefit from the tools and information provided by the stockbroker by opening a Demat account with them. Some brokers even provide their customers with a virtual trading tool to assist them in learning how to trade stocks. Investigate your options to find which one is best for you.
10] Go for a small amount of trade
Practical learning is the most effective way to obtain market experience. To discover how stock trading works, one might begin trading in the market with tiny amounts and quantities. Small trades allow you to see what mistakes you’re making and how much risk you’re willing to take. You can raise the number of shares as you gain experience. You can also attempt learning using a virtual trading platform and mastering the art of trading.
11] Buy and Hold
The rule shared by Warren Buffet has been in the stock market for years. It is truly one amazing rule to follow that can help you learn about the stock market and perform the right trade. Warren Buffet advises investors to retain their stocks for a longer period. As a trader, you can put this theory into practice by trading stocks and holding them until the trade yields desired gains. Everyone trades differently, and you can try your hand at stocks from different sectors and gain the required expertise required to be successful. Remember, learning is a continuous process, so buy and hold strategy is one that can help you learn about signals, and gain profits from them.
The stock market can be tricky if you have no to very less information about stock trading. Lack of understanding and information can lead to losses which might be huge when you are a beginner in stock trading. Knowing the right ways to learn about stock trading and gathering all the information before investing real money in the market can be helpful. So, if you are looking for How to learn stock market trading in India? These options are going to be a great boon for you all. So, go through some amazing books, read through great experiences, try on some simulations, and get ready to start with a small amount in the stock market to move ahead on your journey of becoming the best trader.