I'm newbie to trading?

[about trading]

Hi Experts,

I'm newbie to trading having zero knowledge about it, but planned to steps in and hope so i will rock this one day but for that i need your guidance and input, I'm resident @ India,

I want to know which online trading provide will be good for beginner, and what are the area where i have to concentrate and where i have to cautious ...

thanks in advance.

 

[Spock (rhp)]

I'm a Yank and trade sometimes.

your worst problem will be yourself. the emotions unleashed by trading will try to run your decision making and that's an almost sure way to lose money. Deciding when and what to buy offer plenty of emotional hooks as you mind plays what if games on you. Worrying as the trade progresses can be terrible. And the what ifs and maybes when things aren't going so well -- as they will -- are killers.

after you master yourself, you'll have to learn about money management [what your loss limit needs to be and when to exit because you've lost your limit on this bet].

the other 10% of the task is everything else -- building a trading plan, creating possibly successful strategies, figuring out how to monitor those strategies, identifying possibly advantaged trades, getting in and out, to set stops or not, and on and on.

***
the other way is to just plunge ahead. if you just plunge ahead, the odds are probably on the order of 50 to 1 against you -- and there's someone who is mentally flexible enough and willing to change fast enough to make it anyway. This could be you -- but it's so doubtful that brokers spend money to find newbies with the idea that they'll lose and the broker will, therefore, win.

{does India have "bucket shops"? a bucket shop is one where the trades the mark makes aren't actually executed at all, but the shop takes the other end (as a betting shop does). This works as a business because of the aforementioned 50 to 1 odds and tight controls that move apparently winning traders to real firms that actually execute the trades. bucket shops are illegal in the US and we still hear of them being raided every so often here.}

 

[Common Sense]

Controlling your risk is the most important thing you can do as a trader. Always keep yourself firmly planted in reality. Never "hope" or "wish" a losing stock will go back up. The only thing worse than being in a losing trade is staying in a losing trade.

Read several books before you even consider opening an account. Keep on reading and learning after that. Short explanations on web sites will never be enough.