Absolute Beginner Guide.
- Thread starter TFL
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- Tags absolute beginner guides day trading newbie guide stock market technical analysis
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thanks a lot .
Please help to choose a good brokerage firm
Dear All Stock GURUS,
I am a newbie and cant decide which brokerage firm (savings A/c+ Demat A/c+online trading A/c) to go for.One of my uncle is in this for quite long and using AXIS BANK.He suggested me the same.
Can you please tell me whether AXIS BANK is good or not for daytrade ?
How is its services and softwares(if any)?
Does it provide consultation to trade in nice way to get a better profit?
(as I am a newbie)
Any better brokerage firms is there with competitive or less brokerage charges and taxes and also good services for trading in stock market?
PLEASE HELP GUYS.I want to start ASAP,may be by next monday or tuesday.
Dear All Stock GURUS,
I am a newbie and cant decide which brokerage firm (savings A/c+ Demat A/c+online trading A/c) to go for.One of my uncle is in this for quite long and using AXIS BANK.He suggested me the same.
Can you please tell me whether AXIS BANK is good or not for daytrade ?
How is its services and softwares(if any)?
Does it provide consultation to trade in nice way to get a better profit?
(as I am a newbie)
Any better brokerage firms is there with competitive or less brokerage charges and taxes and also good services for trading in stock market?
PLEASE HELP GUYS.I want to start ASAP,may be by next monday or tuesday.
Copied from the Net..........
The one thing many beginning traders don’t seem to accept is that losing is part of the process. You will lose. The goal is not only to win more than you lose, but to make a profit, which means keeping your losses to a minimum. You can’t “hold on” hoping that your trade will either come back to even or make a profit. You have to let every trade go either to loss or profit.
Many traders can’t (or don’t) take the small losses. They often stick with a loser until it really hurts, then take the loss. This is an undisciplined approach… a trader needs to develop and stick with a system.
Two important keys help you achieve your goal (profit). Devise a strategy (system) that defines your stops, which, in turn, defines your losses. The second is to develop a disciplined approach that “forces” you to honor your stops and take your small losses.
Keep in mind, your strategy should focus on the protection and preservation of you capital. This means that the losses you incur should have a minimal impact on your trading stash. One way to ensure this is to define a percentage of your capital dedicated to each trade. Keep that percentage reasonable, meaning you want to maximize profit per trade, but you don’t want to risk too much on one trade. As well, keep your stops reasonable. Don’t set them too tight so you are always getting stopped out. Open them up to the maximum level defined in your strategy.
This error goes hand in hand with this one:—don’t over trade. Set up your daily (if that is how you want to trade) strategy and stick to it. Don’t try to make up for losses by making one more quick trade. If you fall into this pattern, you will lose more than you want.
Trade in the day; invest in your life …
The one thing many beginning traders don’t seem to accept is that losing is part of the process. You will lose. The goal is not only to win more than you lose, but to make a profit, which means keeping your losses to a minimum. You can’t “hold on” hoping that your trade will either come back to even or make a profit. You have to let every trade go either to loss or profit.
Many traders can’t (or don’t) take the small losses. They often stick with a loser until it really hurts, then take the loss. This is an undisciplined approach… a trader needs to develop and stick with a system.
Two important keys help you achieve your goal (profit). Devise a strategy (system) that defines your stops, which, in turn, defines your losses. The second is to develop a disciplined approach that “forces” you to honor your stops and take your small losses.
Keep in mind, your strategy should focus on the protection and preservation of you capital. This means that the losses you incur should have a minimal impact on your trading stash. One way to ensure this is to define a percentage of your capital dedicated to each trade. Keep that percentage reasonable, meaning you want to maximize profit per trade, but you don’t want to risk too much on one trade. As well, keep your stops reasonable. Don’t set them too tight so you are always getting stopped out. Open them up to the maximum level defined in your strategy.
This error goes hand in hand with this one:—don’t over trade. Set up your daily (if that is how you want to trade) strategy and stick to it. Don’t try to make up for losses by making one more quick trade. If you fall into this pattern, you will lose more than you want.
Trade in the day; invest in your life …
Re: Please help to choose a good brokerage firm
AXIS Bank is not a retail broker firm and they are not providing demat or trading account. They claims in various advertisements and so in a manner like they have but, its actually Geojit's also, you may directly go to Geojit and open an account with any bank. I think their published brokerage is lowest among the 'many' competitors but you can bargain with many providers and select one.
More over these little differences in brokerage will be reflected hard in once account only when he trades in higher quantity. If you are a beginner, concentrate in your trading strategy and making consistency in results should be your primary goal rest will follow.
Best Wishes,
TFL.
AXIS Bank is not a retail broker firm and they are not providing demat or trading account. They claims in various advertisements and so in a manner like they have but, its actually Geojit's also, you may directly go to Geojit and open an account with any bank. I think their published brokerage is lowest among the 'many' competitors but you can bargain with many providers and select one.
More over these little differences in brokerage will be reflected hard in once account only when he trades in higher quantity. If you are a beginner, concentrate in your trading strategy and making consistency in results should be your primary goal rest will follow.
Best Wishes,
TFL.
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