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A Beginner’s Guide to Online Stock Trading:

What is online stock trading?

As the name suggests, online stock trading means buying & selling shares over an online platform. Moreover, due to the online trading platform, one can trade in shares & other financial instruments as well without any middle person or agent.

An online trading platform facilitates the trading of securities as simple as ordering food/groceries online. You place the order, pay for it the transaction is completed. Your location does not matter if you have a good internet connection, mobile application &, of course, the funds in your bank account.

Dealmoney offers Dealmoney Pro – a mobile application that would work as your easy access to trade shares & other financial instruments.

How does online trading work?

One requires three types of account – Demat account, trading account & bank savings account to trade on an online platform.

Demat account: It’s your vault for all the securities held by you for the long term.

Trading account: It is for buying & selling securities on the stock exchange.

A broker provides these accounts; hence it is essential that the broker is a registered member of stock exchanges & is certified by SEBI.

Dealmoney provides a free Demat trading account & trading account. Dealmoney also extends some cashback offers & other additional benefits. 

Learning is earning:

One needs to have at least basic knowledge about the stock market. It is crucial to stay updated with finance news & market trends. Dealmoney offers a Dealmoney touch for learning purposes. In addition, nowadays, there are many avenues available to gain knowledge from like – Youtube, websites & podcasts. Exploit all the means & be an efficient investor.

Practice makes the human perfect:

The most practical way to learn anything is to do it. Since money is involved, one can use simulators to learn trading or investment. One can use simulators like “Moneybhai Investor” to experience the market.

Research ,plan & execute:

Do the research using various means.

Make investment strategies after the research part is over. How much one is willing to invest, risk appetite is a crucial point that one needs to decide in advance. Then, look for the right opportunities & execute the trade.

Use various tools for trading:

1. Use stock watchlist: One can create a list of shares one needs to track/be interested in.
2. Research reports & analytics: One can access the research reports by experts & analytics, i.e., market statistics, volume gainers, day’s high & low, etc. Dealmoney provides screeners to study analytics.
3. SMS alerts: Service brokers provide live updates through news alerts. One can also set alerts to receive reminders either through SMS or email about preferred stock options.

Various platforms available for online trading:

1. Website: Traders can easily access their accounts by logging in.
2. Smartphone application: Traders can access their accounts by downloading an application provided by the broker. Dealmoney offers Dealmoney Pro for mobile trading.
3. Call & trade: If traders cannot access computers, they can avail of call & trade service. A trader can make any number of calls in any segment.