If you have enough patience and a good amount of ambition, trading may become a profession for you. It has become so for many investors who quit jobs to undertake trading full-time. With changes in the technology world and high volumes on exchanges, it's simple to make a career if you want to trade stocks online. In certain cases, you may not require much capital, and in others you might. Moreover, global markets are highly linked and can be accessed conveniently. In fact, if you are just starting out, it's not hard to have a regular job while you master the universe of securities.
After you have executed the demat account opening first step with a prominent broker like Motilal Oswal, you can think of trading stocks. You often believe full-time trading professionals are those with advanced knowledge and invest in stocks with a background in finance. As much as this is far from reality is the fact that traders must possess huge amounts of wealth to trade, not to mention time on hand. It may not be far from the truth that most experts in trading have proficient educational backgrounds and certain connections, but several successful traders have started out with just a free demat account online. Anyway, whether you are a prominent expert or an average individual, success depends only on you. Here, we delve into how you should start off, but by no means quit a regular job that gives a steady income to go the full hog initially.
When you just begin, an online demat account is the way to lift off. Think of trading from home as this is the simplest most flexible way, molded according to daily routines. Nonetheless, in case you opt for stocks with day trading in mind, you may not want to get into the skin of a day trader where you need to have a high amount of capital. This requirement applies to any and all times, so if you don’t want such a capital-intensive approach, quitting your job is a bad idea. The best way is to engage yourself in trading, not as a hard and fast rule, but as a trader wishing to build up a substantial portfolio.
- Should you quit your job?
If you are just starting out, the answer is “No, you shouldn’t quit steady employment to trade.” Unless you have amassed enough wealth for risk-taking, it isn’t advisable to make trading a career by quitting your job. Moreover, when you are just learning tactics of how to trade stocks online, you may lose money. Accounting for this major risk factor, you can begin trading on the side, till your footing on the trading floor is firm.
A good way to begin your path to being a savvy trader is to first consider the markets that do not require much capital, such as currency markets. You can always make use of videos and training vlogs on a superior broking platform like Motilal Oswal to learn the tools of the trade too.
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