The facility to buy and sell shares through a virtual trading platform is known as online trading. This facility is provided mostly by stockbrokers, as well as financial companies. Not just shares, but other financial securities like equities, mutual funds, IPOs, commodities, currency, etc. are bought and sold on online trading platforms. In this article, we shared some of the best Trading Quotes.
Top Best Trading Quotes
“Never ever argue with your trading system.”
“Markets can remain irrational longer than you can remain solvent.”
“The majority of short term trading results are just random. In the long term the money ends up with those that can trade and manage risk.”
“Listen to what the market is saying about others, not what others are saying about the market.”
“Sell before the holidays. Stock prices tend to rise on the last trading day before major holidays.”
“Win or Lose, Everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”
“Building Wealth is a marathon, not a spring. Discipline is a key ingredient.”
“To win in the markets, we need to master three essential components of trading: Sound psychology, a logical trading system, and an effective risk management plan.”
“Life is all about taking risks. If you never take a risk, you will never achieve your dream.”
“Your trading needs to boil down to rules, money management, and that is it.”
“The goal of a successful trader is to make the best trades. Money is secondary.”
“A peak performance trader is totally committed to being the best and doing whatever it takes to be the best.”
“Some people say Forex trading is dangerous. I say investing in anything with a lack of knowledge is dangerous.”
“There are a million ways to make money in the markets. The irony is that they are all very difficult to find.”
“The good speculators always wait and have patience. Waiting for the market to confirm their judgment.”
“In trading it’s not about how much you make, but how much you don’t lose.”
“If you can learn to create a state of mind that is not affected by the market’s behavior, The struggle will cease the exist.”
“Do more of what works and less of what doesn’t.”
“A trader looks for consistency. The gambler looks for a quick profit.”
“The key to trading success is emotional discipline, if intelligence were the key, there would a lot more people making money trading.”
Stock Online Trading – How to Start?
Download and Register – Once a Demat account is opened, you will get a share online trading kit, which will include your ID, password, and other instructions. To access your account, go to the broker’s website (major brokers also allow you to do online trading on a smartphone through your mobile trading apps).
This site will prompt you to enter the username and password after some security questions. Once you complete all the formalities, you will be able to log into the trading portal.
Basic Layout – The basic layout of a trading portal is the same across all brokers. Some of the most used columns are:
- Scrip Code – Share Name
- Bid – the price at which buyers are willing to trade
- Asked-Price at which seller offers equity
- Volume – The total number of shares bought and sold
- Open – First price open at the bell
- High Price – The highest price seen in intraday
- Lowest Price – The lowest price seen on intraday
- Closed Price – Last trading day price.
In addition, there are many customization tools to allow users to set up the portal according to their needs. Such tools help select columns that seem relevant to the trader in deciding how to execute the order.
Know Shortcuts – To do online stock trading fast, it is very important that you have all shortcuts in your mind. Although a drop-down option would be available to choose from, that takes time. Instead, the shortcut ‘key’ can be used to buy and sell on the portal, saving a lot of time.
Your broker will help you to learn about the trading portal. Make sure you ask for basic things like purchase and sale orders, target setting, stop loss, etc.
Some Basic Knowledge – Before starting with online trading, it is good to get some basic knowledge of technical and fundamental analysis. This will help you make the right decision. Apart from this, it will also help you understand the research report and analyst recommendations.
Trading Tools – Brokers provide free charting tools to their clients. These are basically technical indicators that help the trader to enter the right price and make a profit. Since an indicator is not able to give a correct analysis, it should be used in combination to make a profit.
Initially, it is not easy to read price and volume charts with all indicators such as moving average and RSI (Relative Strength Index).
However, there are many online tutorials available on the Internet which have explained each indicator in detail.
Separate tabs – If you as a trader want to trade in different securities like equity, commodity, currency etc., separate tabs should be created for each security. For example, only shares in one tab, a commodity in another, should create separate tabs in this way.
This makes it easy to place an order without a mistake.
Practice with Online Stock Simulator – Before starting online trading with real money, it is always advisable to practice on the simulator. It not only gives you the experience of trading, but it also helps you learn to work on the trading portal. Also, on the simulator, you can trade without fear of loss of losses.
Learning curve – Users should not do much trading in the beginning. Initially, one should invest a small amount to monitor market trends and develop their strategies. In addition, these strategies should be timely updated with the test and test method.
Benefits of online stock trading
More people are entering the online business as the stock markets are maturing all over the world, especially in emerging economies like India. There are many advantages to online business.
Saving time – Losing some time while buying or selling a stock is very important as it can affect your returns. Calling the dealer and asking them to place an order may not be a very good idea.
This is because when you call the dealer, they will ask some verification questions with the name of the scrip and the price at which you want to buy or sell the stock.
Although they are following a normal process, the time that goes into the process reduces the likelihood of executing the trade at the price you want. On the other hand, when you do online trading on your own, you have the necessary tools to execute the desired trading.
Notifies you – The trader and investor want to know about the trading is done on their behalf and the performance of their portfolio. However, sometimes it is difficult to call the dealer or your relationship manager and get the position of each scrip in your portfolio. However, with online trading of shares, you can know the status of your account at any time.
Also, it gives you information about any unwanted orders or changes in your account.
Fewer chances of error – There is no shortage of mistakes in the stock market, especially when you execute an order via phone. Sometimes they hear the wrong purchase price or quantity. Sometimes, they are purchased on account Mistakes are also made such as double selling the quantity. An error causes a loss in your portfolio.
Even if it was a human mistake, ‘therefore only the order placed by itself is safe.
Stock Watchlist – This is another great benefit of online trading. In offline trading, it is almost impossible to track specific stocks from the entire scrip listing. With online trading, you can keep an eye on the stocks you want to track. You can always customize the list by adding or removing scrips. With stock watchlist, you can easily track price, volume,% change, etc.
Availability – Almost all major brokers nowadays offer mobile trading, which means that you can execute orders on a smartphone. All you have to do is start by downloading the trading app. These are simplified portals with an easy user interface, which gives any user wide access to trade from anywhere.
Apart from the benefits of trading from anywhere, in mobile platforms, the user also gets account information. In the Personal Information section of the app, one can see the quantity and price of each scrip. Mobile trading platforms also provide various features like market news, intraday recommendations, and fundamental tips.
Overall, online share trading provides all kinds of information to users without executing orders, knowing about open and closed positions, and relying on dealers and their RMs (Relationship Managers).
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