It has been one of the biggest myths that investing in stock market will make you lose your money. Sometimes, the thought of investing in shares get jitters to someone who has experienced worst from this market. But hey! Hold on stock market definitely carries risk, however if approached in a disciplined manner it is one of the most efficient form of investment.
There was a time when people used to be afraid to make their careers as a stock market trader, times have changed and it is important to spread the awareness that with patience, passion and will to learn, one can definitely become a good trader. To become a trader in stock market a right attitude, aptitude and training in finance can open up various career options. Opportunities may vary from stockbrokers, traders to research analysts, algorithm traders etc.
A career in the stock market may do wonders only if the professional need to have the required knowledge, tools and techniques to evaluate the volatility in market and make his clients earn great returns out of it.
To become a successful trader, one needs to have followed things in mind:
1. Prepare a trading plan
2. Trader must be familiar with the technology and methods of implementing a strategy.
3. Always have some rules and follow them.
4. As a trader one has flexibility to learn about the stock market at its own pace and trade as per your needs.
5. One spends so much time working that there is no time left for any new learnings or upgrading oneself, with a flexible schedule as a trader learning something new is a everyday phenomena to keep oneself updated.
6. “Experience is the best teacher” and the best strategy for trading is “Earn by Learn”, so the most important thing is don’t stop learning ever. Invest your maximum time in the learning process.
7. Never shy away from booking losses and always follow a strict stop-loss.
Some traders lose hope to become a successful trader because they did not do enough research or analysis on the script in which they invested. They did not even make any plans before investing. They just go with the market trends which is highly risky.
There are many job roles which are available, some of which are:
Portfolio Management Services (PMS)
Online Stock Trading
Equity Analyst (Fundamental/ Technical)
What are the Eligibility criteria for Trading?
Traders mostly are self-taught. However, a professional trader needs to understand the basics of finance to start with. A college degree is a prerequisite nowadays at least if you want to take trading seriously. In addition to this specific certificate issued by SEBI and NSE, a certification is required to be certified research analyst, investment advisor, or mutual fund distributor.
Most traders have degrees in mathematics, finance, accounting, economics, or industry. In terms of defined criteria, one does not need to be 18 to get started.