Are you also fascinated by the world of share market trading but don’t understand how to become a part of it? Well, you’re not alone in this. This guide on share market and all things related to share market is curated exactly to help you understand how to navigate your way through the ups and downs of stocks and shares.
Let’s first understand what exactly is share market trading.
What is Share Market Trading?
Share market trading is simply the process of buying and selling stocks or shares publicly. This process is easily carried out through stock exchanges like BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).
Two types of trading:
- Intraday: Buying and selling of shares on the same day.
- Delivery: Buying shares, holding them for a few days, weeks, months or years and then selling at an increased price.
While venturing into the world of share market trading, keep these steps in mind:
Step 1: Open a Demat Account
The first step is to open a demat account or a trading account. This will hold your shares in electronic form. A demat account app is the best roadway to make all of this process easier. Modern demat account apps have integrated features that allow you to carry out the process of trading directly from your smartphone.
Select a demat account app that offers:
- Simple KYC Process
- Integrated Features
- User-friendly dashboard
- Real-time tracking
Step 2: Choose the Best Trading App
The next step is to choose the best trading app. If you want a hassle-free experience, then select the correct trading platform. Many platforms that offer user-friendly interface, round-the-clock assistance, minimal brokerage charges, and educational resources for beginners and experienced traders.
There also an option of selecting a free trading app that is the wisest solution for all traders. These apps charge zero account opening fees as well as no brokerage on specific trades. This is the perfect option for beginners who wish to learn trading practically while not spending unnecessary money on trading charges.
Step 3: Gain Knowledge on Stock Charts
This is another crucial step in acing the art of share market trading. If you don’t understand how to study a stock chart, you won’t be able to understand how a stock fluctuates over time. As a beginner, you must always focus on trends that are long-term rather than short-term fluctuations.
Step 4: Make your First Trade
Your demat account is setup, you have downloaded a free trading app and also learnt how to read a stock chart. Now comes the most awaited step: Making your first trade. Search for a share that you want to buy. Now select the number of that particular share that you want to buy. You can either choose to buy at the current price of the share (market order) or at a specific price (limited order).
Now you can either keep the share for a day or for a number of days, as you wish to. When you are finally ready to sell the share, place a sell order and monitor the same. It is always advisable to opt for a trading app that offers zero brokerage on maximum trades. This way you can save on unnecessary transaction charges.
Share market trading is no longer limited to experts. Even a common man can start trading easily with the help of latest facilities and technologies available. If you are someone who wishes to explore more in this field, then you can follow these steps and start your trading journey confidently.
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