||Learn Stock Trading. But before that, decide whether you want to take up stock trading as an alternative to make money, out of so many other opportunities.|
Those who want to learn stock trading, come to me for my advice. Their first question is whether they should take up stock trading as an alternative to make money.
My stock trading advice to them starts like this. “Stock trading is like gold mining. You can take away as much gold as you want. But if you are careless you might get buried alive”.
What are the plus (positive) points to start trading in stocks?
Consider the following points before you decide to take up or not to take up Stock Trading.
Here are the reasons which compel you to take up Stock Trading:
- Stock Trading is relatively easy to learn: Compared to medical, engineering or rocket science, one can learn Stock Trading relatively easy. You don’t have to be a genius to succeed in Stock Trading. There are plenty of books and courses available in the market. Internet can bring them to your door step.
- Stock Trading is a home based business: Stock Trading is one business which suits well to those who love to stay at home and avoid spending time (non renewable resource) in traffic.
Single parenting mom or dad will have lot of time left to take care of the child. A grand mom with low physical strength to do other jobs can trade stocks. It is an opportunity for old buddies to stand on themselves, instead of unloving children or at the mercy of old age homes and lead a respectable life.
- Stock Trading is relatively easy to set up: Compared to a clinic, grocery shop, beauty parlor or even a petty shop, setting up of Stock Trading business is easy.Logistics involved in starting and running an online share trading is much easy and simple.
- Stock Trading does not involve physical inventories: In Stock Trading what ever you buy and sell are virtual assets and are credited / debited to your DP account automatically.
- Stock Trading does not need co-workers: No boss, no colleagues and no subordinates. Do you like it? I love it.
- Stock Trading has the flexibility of capital: One can trade stocks with as little or as big capital. As your capital increases you need not change any of your setup. In any other business as the capital increases, the office size, number of worker, expenses, etc; keeps increasing.
- Stock Trading is a business on move: Do you love traveling? I do!You can stay in Egypt for a month, Paris for two months, Kashmir for three months and Hawaii for four months. Still you can carry on your trading business.
- Stock Trading can multiply the capital in relatively short time:Capital can be increased relatively faster comparable to a few. As and when one gets more experience in selecting trade setup, the profit increases exponentially.
- Stock Trading business can be capitalized any time: If one is in need of cash, one can sell her stock in a few minutes and get the cash delivered to ones bank account in a few days.In case one is interested in closing down her business, it can be done in a few days.
Of course one can restart her business with similar ease. Opening and closing of trading business in financial instruments is relatively easy.
What are the minus (negative) points to learn stock trading?
Here are the reasons for you not to learn Stock Trading:
- Learn Stock Trading FIRST: Learn first and trade next. If one is reluctant to learn stock trading first, it is NOT for them. This is not a ‘get rich quick scheme’. It involves ‘learn first; earn next and keep learning forever’.If you want tips to trade then Stock Trading is not for you. No successful trader runs his business on someone else’s trading tips.
- Stock Trading is a disciplined game: Discipline is something which takes a strong will to develop. It is a fight against oneself and fighting self is hardest thing to do
One who masters himself can master everything else.Violating trading rules can bring down your capital enormously and in a very short span of time. It can wipe your name in no time from Stock Trading business.
- Stock Trading does not make you work: If one needs someone to tell him what to do and what not to do, Stock Trading is not for them. One has to be responsible for both their success as well as their failure.Do not blame anybody for loosing money. The only person whom you can blame is yourself.
- Stock Trading demands vigilant care: Of course all business needs to be cared. But Stock Trading needs much more tender care and love. It demands more vigilant care. Shorter the trade cycles, more is the care and vigilance needed.
Learning stock trading is more difficult than doing it. People are ready to spend 15 years (10+2+3) and a lot of money to get a salaried job of a few thousand dollars until the retire time.
But very few are ready to spend lesser time and money for systematically studying the art and science of share trading, which gives them increasingly better income until they have strength to punch in a few keys in the computer.
First learn to survive long enough to learn trading in stocks, commodities, futures, options and forex.