How to Start the Journey towards Stock Market?
Without spending too much of your valuable time, in short, I am explaining some basic rules you should follow before starting your journey in the stock market.
#Rule No-1
Choose the discount broker.
Honestly saying, as a learner everyone has a tendency to square off the stock as soon as possible without any Reward ration estimation when they are in profit. As a result, when they get the Combined Margin Statement from the Broker after market closing, they will realize that they pay more brokerage charges then profit. As a result, in the next trading session, they wait for more Profit and it will cost them. Choosing a discount broker will give you better experiences during the initial stages.
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#Rule No-2
Don't Follow Any SMS or Email of Stock Recommendation.
The stock market is full of speculators who always try to steal your money. Sometimes they use bulk SMS services or email services to promote some loss-making companies. As a learner, you should always avoid these.
Rule No-3
Don't buy any stocks which are Gaining tremendously.
There are some operators who try to increase the price of a stock. As a learner, you will lose your Rational IQ and emotional IQ will attack you. You will buy and then the price will fall.
Rule No-4
Don't Play with Intraday Trade.
Never try to do intraday trade. Use the time to read books instead of intraday. Buy stocks, hold for several days until the target price hit. Intraday is a game only for the professional.
Rule No-5
Don't stay long time in the market.
The market will always invite you to trade because he knows you have money. A better option is that buy a stock and then log out your Trading app or site. Observe the market from another app that gives you real-time data of the Stock market.
Rule No-6
Don't invest your all money in the same stock.
Don't put all your egg in one basket. Choose at least two stocks so that if one falls down, maybe another goes up.
These are the basic rules everyone should follow when they are new in the market. Moreover, learning is the foundation of any successful journey. Learn at least two hours a day to make your fundamental strong.
Wish you a wealthy life.
Keep Growing.
