HOW TO TRADE – TRADING BASICS
If you are new to trading or already an experienced trader you need to know certain things Do’s and Don’ts in trading. As a trader, we have to know the mistakes we are doing and what should we avoid as the first thing. Then we will see how to rectify it and be a professional trader.
First thing in Don’ts is most of the people while entering into a market think of it as Gambling. Stock market is not gambling. what then is gambling? Any kind of business done without knowledge is gambling. When you depend upon your luck or assumption, it is gambling.
If your are entering into a business, similar to a trade, you should have proper knowledge. What is knowledge? when you starting any new business you should have proper knowledge about what you are doing.
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RETURNS IN TRADING
You should be aware of the risks involved in this business. what is our expected returns? we must know everything before entering into it. Then what is our strategy to develop our business? we will check and plan every thing! When it comes to stock market, we never do it.
WHAT IS MARKET ?
People lack business ideas in market! first you should know what is market! and then if you trading shares you should know what is a share market! If you are a Futures &Options trader you should have sufficient knowledge of future and option.
Most people come into the market without properly knowing what futures and options are. People think that with futures they can earn more profit and with options, they can earn unlimited profits. they don’t have proper knowledge about them. Don’t fall for marketing and Don’t enter into market without proper knowledge. After getting the knowledge, what is their next mistake?.
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TYPES OF ANALYSIS
They don’t have proper strategy to develop the business When it comes to market there are three types of analysis, namely Technical, Fundamental, Sentimental. We need to learn the three important methods of analysis.
Only knowledge is not enough. we should put in some efforts These efforts are akin to the ideas and mindset we should have, we should know proper Technical Analysis. When it comes to technical, there are so many subjects on how to analyzes the market from basic to end. Technical analysis is about predicting the direction of market and predicting where the future prices are going.
Similarly, Understanding how the company is?, how is the performance of the company?, what about the export and import of the company? what are the debts and liabilities of the company? these will fall under fundamental analysis. Next, we should know Sentimental analysis, market moves because of numbers, These numbers create the structures, technical analysis is all about analyzing these structures Sentimental is numbers, these numbers create technical structures.
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So you should have proper knowledge of sentimental analysis. These things will come under knowledge department. After acquiring the knowledge, the next mistake which people do is Dependency. The next point is dependency. People always depend upon others. they are afraid to take their own decisions Why are people depending on others? because of fear in the market.