Dear AmanBhati,
Friendly suggestion.
Trading is a serious business/profession.
Very tough business indeed.
If you want to become a Engineer - you have to do BE like wise a Dr- MBBS.
Similarly to become a trader you have to spend time in learning the TA.Study/observe the markets. Learning curve will be very steep here.
This was suggested by DSM earlier as well.
As a newbie what you need to do is read the beginner section threads,
http://www.traderji.com/beginners-guide/9373-new-members-please-read.html
start learn TA,
Study candle stick patterns.
Chart patterns.
practice chart reading - Say 3 months at least.
Daily observe the price movements of say Nifty (index).
Master few trade set ups/strategies or design a trading system
Trading plan - 3 months.
Post your doubts.
Then practice/paper trade for 3 months at least.Ensure that you are making money in paper trading.
Then think about account opening/broker/brokerage plans etc
Else surely you will loose your money.
There is absolutely no necessary to loose money and then learn trading.
Just follow the advices of experienced traders here and try to learn from the mistakes what they did.
This will save lot of your time,effort and money.
There is no other short cut.
Wish you all the best.
Happy learning.
But to answer your question there are much cheaper flat brokerage houses like SVLNS.Check in the brokerage section.
It should be best suitable for you.
Friendly suggestion.
Trading is a serious business/profession.
Very tough business indeed.
If you want to become a Engineer - you have to do BE like wise a Dr- MBBS.
Similarly to become a trader you have to spend time in learning the TA.Study/observe the markets. Learning curve will be very steep here.
This was suggested by DSM earlier as well.
As a newbie what you need to do is read the beginner section threads,
http://www.traderji.com/beginners-guide/9373-new-members-please-read.html
start learn TA,
Study candle stick patterns.
Chart patterns.
practice chart reading - Say 3 months at least.
Daily observe the price movements of say Nifty (index).
Master few trade set ups/strategies or design a trading system
Trading plan - 3 months.
Post your doubts.
Then practice/paper trade for 3 months at least.Ensure that you are making money in paper trading.
Then think about account opening/broker/brokerage plans etc
Else surely you will loose your money.
There is absolutely no necessary to loose money and then learn trading.
Just follow the advices of experienced traders here and try to learn from the mistakes what they did.
This will save lot of your time,effort and money.
There is no other short cut.
Wish you all the best.
Happy learning.
But to answer your question there are much cheaper flat brokerage houses like SVLNS.Check in the brokerage section.
It should be best suitable for you.
Dont get confused between stop loss orders and cover orders.
If you buy a stock at 100 and if you want to cut your losses at 98.50 then you can place a stop loss order at 98.50 with trigger at lets say 99. So if price falls to 99 then a sell order will be automatically placed at 98.50 and your position will be closed.
On the other hand lets say you buy at 100, you can place a cover order/take profit order at 102 i.e if price gets to 102, a sell order will be placed and your trade closed.
Some trading softwares only allow for SL to be placed while in some you can place both a SL and cover order at the same time. Your trade will be closed which ever first gets triggered. If you do not have a cover order functions on the software you are using then You have to manually exit the trade/book profit when price gets to 102/-
If you buy a stock at 100 and if you want to cut your losses at 98.50 then you can place a stop loss order at 98.50 with trigger at lets say 99. So if price falls to 99 then a sell order will be automatically placed at 98.50 and your position will be closed.
On the other hand lets say you buy at 100, you can place a cover order/take profit order at 102 i.e if price gets to 102, a sell order will be placed and your trade closed.
Some trading softwares only allow for SL to be placed while in some you can place both a SL and cover order at the same time. Your trade will be closed which ever first gets triggered. If you do not have a cover order functions on the software you are using then You have to manually exit the trade/book profit when price gets to 102/-
Last edited:
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