Boom what's up my friends? How are you doing today? How was your trading? So today I want to talk about some of the guidelines when you are starting first Be careful You will need DL to drive a car, but you don't need anything to get started with trading I am I am wanting you to be alert here, which means that anybody can get started But it's not about anybody can getting started.
It's about how do you get started in the right way and start making profits? so I know all of you when you connect with your broker, you will open a dmat on trading account and Typically, if you have a bank account, they will push you to open a dmat account in the same Bank But avoid doing that go to professional broking houses itself So if you want to trade by yourself online then you can go for discount broker houses like zerodha or upstocks and if you want to go for Call & trade, then you go for a premium broker house.
It could be any other broker's so disclaimer here I don't have any affiliation with any other brokerage houses.
This is purely for education You can go ahead and open an account in any of the broking houses So most importantly when you get started with the premier broker What you will think that he is the most knowledgeable person when I started way back in Two thousand eighteen nineteen times.
So I opened about fifteen broking accounts I wasn't sure which one is good.
I just kept on opening but it is like going to a barber and asking shall I take a haircut today and Let the broker just do the transactions don't listen to the broker at all If you just follow this one particular advice from this video My job is done as an educator as somebody who's wanting to transform lives.
Transform passive income streams for people is taken care of So understand one thing you don't have to do all the mistakes and learn from it You can just learn from others mistakes in this case my mistake I in fact lost lot of money Most importantly it is about how much money you want to start with and that's where people get confused and when we started this we actually laid down a scientific process to find out how much money you should ideally be starting your trading with my fellow partner and Who is a very successful trader.
He actually came up with a formula Shankar before you come up with a Start with your trading You need to know how much you want to start your trading with because if it is too less You'll not give importance if it is more.
so keep an eye on how much money you want to start with the rule is If you are beginning don't take loan and get started into trading When you are starting start with a long-term trading strategy because that is where you will get comfortable with trading platform stocks and Buying selling.
So that's the next point which is get yourself comfortable with buying and selling of shares You need to know if you are an offline trader You need to know how to call up somebody and ask them to place in orders If you are an online guy You need to know how to clear yourself these top losses the entry orders limit orders all of that stuff.
By the way, I Don't know how many of my audience are complete beginners.
Do you want me to make a video? completely on different order types So if s is your answer let me know in the comment box So again, then the I I kept talking about this such as the keep your stop-loss heart stop-loss Do not keep any mental stop-loss.
This is for beginners guys I am NOT talking about a trade for pro traders.
If you are a beginner keep a hard stop loss and most importantly Only liquid stocks.
So imagine in a situation where you have bought stocks.
It's in huge profits, but you don't have anybody to buy Buy back those shares.
You cannot sell those shares because there are no buyers there are there's no liquidity so trade only liquid stocks and find out the volume find out do a nifty 50 analysis and then go for it and then most importantly choose I Think CH OSE a simple and practical strategy for you to get started.
I Think this is the last but one or two, so don't invest based on tips Or if somebody comes and tells you Shankar I will give you guarantee 10% guarantee 5% that the place you should never be in period Just get all that list place and get into your own learning learn yourself work on yourself because your inner Will produce your outer? so typically what will happen when you are starting is that you are you get attached to trading and investing and in my parlance there's nothing called investing because in your investing you buy and sell which is Typically your trading you can only be a long-term trader or a short-term trader This is my parlance.
Can I can we can beg to differ on that? So they are just part of the plan when you initially start you will not know what to how to go about it You will when the loss has happened and that's another mental trick that you really need to learn which is how to take How not to take losses personally or how to handle losses and profits in a nice ways That doesn't affect your personality itself so Especially it so happens that when you get started You want to really go out and tell everybody that I have got started in trading I bought this talk about this talk.
I made so much profit and when you make losses What you tell your friends and relatives? So that is when you will convert yourself from a short-term trader into a long-term trader long-term creditors into short-term traders I will make a separate video on that, but just take care for this particular purpose that don't take losses Human profits personal they are just part of the plan Be comfortable you're taking small losses and big profits I keep on saying trading successfully is all about getting comfortable small small losses and Giving yourself a chance to make huge profit Thank you for watching all my videos Have a profitable trading This is Shankar signing off wishing you amazing amazing Trading success see you in my next video keep watching this space for some amazing content coming your way And by the way, let me know what you think of this video.