how to start trading | HOW TO start trading IN STOCK MARKET FOR BEGINNERS

Mudra Money

Hello friends… You might have heard from people claiming on social media that they are earning a handsome amount of money sitting at home by just working sometimes on PC or laptop. There are multiple ways of doing this. Trading is one of the methods of making money online by just standing sometime at your PC. You can definitely do this and become successful in trading if you acquire some knowledge about the market and finance. Even if you don’t know about trading you can learn it from the scratch and can start making money by trading online. Now you may have a question that how to start trading?? right ? I am going to mention some pre-requirements for beginners.

Here I’ll be providing to you some prerequisites or basic requirements to start trading. In the series of this article I’ll be telling you how I can start reading with acquiring the knowledge and the requirements for trading.

How to start trading | Basic requirements to start trading | PREREQUISITES TO START TRADING

To start trading you will need some hardware and software devices. Red the below many sent details for more;

hardware requirement

Laptop or Desktop 

Many people keep two or four screens to keep an eye on every moment of the chart on multiple time frames simultaneously.  This will help you to speculate the next move of the market. You can begin with one screen, it may be desktop or laptop. 

Smart Phone

Mobile phones are used for placing orders when your screen is busy with charts. You can place orders from your computer laptop but it is more convenient if you have a smart phone. You can use to punch orders by looking at the charts for the screen simultaneously.

But please don’t use mobile phones to analyse the chart because it is not very accurate. You will start losing your hard and money very soon. 

Software requirement

These are the following important software required to start trading…

Charting Platform

charting platform you can use investing.com or trading view or you can use any dedicated terminal provided by your broker to view charts and do technical analysis there…

Demat account and trading account

You will need to open a demat account as well as trading account to perform trading activities on the platform provided by your broker.

Trading terminal

It is a platform where you can punch the orders for trading this is provided by your broker where you open your demat and trading account

Psychological aspects

This is very well said by most of the successful traders that psychology plays a vital role in deciding whether you will be a profitable trader or not. Very famous write Mr. Robins said “I have found its 80% psychology and 20% skills” that matter. He explains that the psychological aspect is dependent on how much you grow, improve and push yourself beyond what you thought was possible. Growing and mindset and learning the every related aspects the passage of time that will improve your training psychology and definitely your trading style.

Conclusion

These are some basic requirements to begin the trading journey but please note that just having these hardware and software devices is not enough.  You will have to acquire sufficient knowledge to and develop a mature trading psychology to become a profitable trader.

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