It’s really being frantic overwhelmed with knowledge. I would rather say work on strength moreover to be stronger in what you are.
Applying the former knowledge is better than subsequently following the new thing. If you want to become more confident, the only rule is to beat the fear.
I would like to explain you few common facet.
- Don’t treat stock market as the place of treasures. It’s really more like a trapper because buyers want to eat sellers and sellers want to grab buyers without cooking it. (ha ha)
- Assume yourself in a war where the firing crumbling their way. What I mean is ‘Be safe’.If you are in profit without taking stop loss till today, you are lucky but don’t consider it your strength because every dog has to come up with bad days.
- Your money is a weapon, don’t lose it.
- Start learning the working way. Don’t be engrossed with simple and illogical way, if it’s simple to try to search the logic in it before applying it in real hard earned money.
- Practice as much as you can do and take trades in the demo for at least 2-3 months.
- Be aware of recent news related to particular stock or instrument before taking trade in any direction.
- Don’t trade your bad day if you are getting loss in day trading continuously. Come next day.
- If day trading is not suitable for you, choose another way like future or option.
- Don’t take trades aggressively. A day trader can target up to 2-5% return on their investment per month. If you are prone to double your money every month it is gambling. A long time investor can have a target up to 20% yearly.
- If a day trader achieves their target early month, don’t trade until any great opportunity seems.
This way you can manage your money as a pro.
Become a long time investor
Being an investor is a hard decision over speculator. There is a myth that one needs bigger money to be an investor. Saving money every month is also a part of the investment.Start saving a part of your earned money to invest in stock market.
Investments give you a golden chance to get an advantage of compounding, power of compounding is really a magic.
2000 ₨ can turn into 1,00000 ₨ after 40 years at 10% return a year if invested in stock.
You can achieve your bigger goals in life by investing money. The key element is the time.The longer you have money invested in the market more powerful compounding becomes.
Just think you have invested 2000 ₨ initially and adding every month only 100 ₨ in it. Do you know how much will it become at the rate of 10% a year in stock market ?? It’s 10,00000 ₨.
10 times by just adding 100 ₨ every month to the initial investment.
You will have both profit and loss.But if you learn how to identify good companies,you will have some stocks that multiply 10-12 times even more in value .
i would say Start early to get advantage of time .
Join our classes if you want to learn the best way to kick the market in your favour.