The different options of trading stocks at present consist of day, momentum, swing, as well as options trading. Although it is possible to generate revenues by trading stocks, it is quite risky to do so and many individuals likewise incur losses. However, it is definitely possible to quit your regular 9 to 5 job and make huge profits by simply trading stocks. In this article, we will discuss whether it will be a sensible idea to trade stocks for a living.
Is it possible to trade stocks for a living?
As already mentioned, it will be quite risky to start generating revenues by trading stocks. While the majority of the traders suffer significant losses, it is also imperative for them to pay capital gains tax in spite of incurring losses.
It is a fact that most of the traders want to make lots of cash instantly. For this, they invest lots of capital which is definitely not a sensible idea. This is because most of them do not have any idea regarding the stock market and how it functions. Therefore, it is not judicious for them to put all their savings into the trade which they are starting for the first time. In case the stock begins to drop by a certain percentage, the traders are going to panic and suffer huge losses.
Essential guidelines for US market live trading in Mumbai
In case you are going to indulge in US market live trading in Mumbai or US market live trading in Kolkata, here we have mentioned some tips for you to do so.
1. Make sure to be disciplined
It is essential to be disciplined and committed in case you want to achieve success as a day trader or an options trader. This is unlike the traditional investors who are going to purchase comparatively safe items and allow their equity to develop over time. Even though you will not have any supervisor to guide you while you are working from your home, this will not be a sensible choice for any individual who likes to have flexible workdays.
2. Become educated regarding trading
It will be prudent to get a good idea of trading prior to quitting your regular 9 to 5 job. Apart from being acquainted with almost every sort of trading out there, it is also imperative for you to focus on short-term strategies. Make sure to go through introductory books on theories and strategies for becoming familiar with the playing field. After comprehending the strategies, make certain to invest some time in assessing your knowledge with a paper trading simulator.
3. Get prepared mentally
In case you are entering into US market live trading in Bangalore or any other part of India, make it a point to prepare yourself mentally. You have to make your mind ready for dealing with any financial loss which can happen during the first few months. Try to approach these losses with practical reasoning instead of emotion. Try to learn from the errors committed by you as well so that they are not repeated in the future.
It is a fact that individuals are not able to make use of all the opportunities that come their way when it comes to generating revenues. This is because they do not have the proper mentor who will be able to guide them in the proper manner. However, BearStreet is of the notion that India doesn’t lack any talent. BearStreet is going to provide appropriate guidance to various individuals including working professionals to become aware of the stock market trading opportunities and start making money. In fact, BearStreet has been responsible for producing lots of successful traders over the years throughout the country.