How to become a successful trader

How to become a successful trader

How to become a successful trader, most of the traders made the mistake that they invest in the Share Market without analyzing the market. They just see other's profit and dive into the market. This may help them to earn profit in the short term but it may result in heavy losses in the long term. So, it is compulsory to invest wisely in the Share Market. 

To become a successful trader in the Share Market, you should trade in the discipline. If you want to become a successful trader, then do read this article on How to become a successful trader.

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To start investing in the Share Market, you must have a Trading Account and a Demat Account. Nowadays, the account opening process is quite simple. You can easily get open your Trading Account and Demat Account. You can either open your account online or Offline. So, after the account opening, you will get your login ID and Password for trading. 

How to become a successful trader

Read, What is the difference between a Trading Account and a Demat Account?

To start trading, you first have to add funds to the Trading Account from your Bank Account. After the successful deposit, you can start investing. Always choose the best broker for Trading

Here are few points to remember before start investing and become a successful trader. 

1. It's important you enter into the market with the consent of an experienced person so that you don't make losses at the beginning. 

2. Never thought profit-making is so easy, sometimes it's difficult to earn money. Don't think that you will do 2x or 3x within a month or so. It happens only a few times in the share market.  

3. I would like to tell you that Share Market is a GAMBLING, you have to do research before investing. You can earn a good profit if you invest wisely.

Read, how to find the best broker for trading and investing.

So, let's begin How you can become a successful trader in Share Market

1. Always Learn and then earn:- It is necessary to first learn, then proceed further whether it is share market or anything. As it will help not to take wrong decision. So, it is advised to first lean. It will help you to become a successful trader. 

2. Do paper trading or Demo trading:-  If you don't want to lose your real money, then you can do paper trading or demo trading. It will help you to gain experience and you can become a successful trader.

3. Use your capital or don't take huge leverage:- These days, the brokers provide leverage to their customers to buy more. As you are new to Share Market, it is advised not to take huge leverage, as it can cost you heavy loss. It may look attractive but can turn into a heavy loss. After gaining some knowledge, you can take leverage.

4.  Always use Stop-Loss:- Whether you are a new trader or a professional trader, always use Stop-Loss. If you don't use Stop-Loss, it can cause heavy loss. If you have entered into any trade, don't forget to put Stop-Loss.

5. Work on small profit:-  In the beginning, it is advised to book small profit. Don't go for big targets like 2x, 3x, or 5x. It can be risky for you. You can use Trail SL for a bigger target.

What is Forex Market and how to trade in it

Whether it is Share Market, or any field if you want to become successful in any field then always keep on learning. As it will help you to make wise decisions. If you keep on learning, then it will keep you update about the change. If you stop learning, you may lose your efficiency. 

So, I have published an article on how you can become a successful trader in the share market. I hope that this will help you to give enough site, how can you start earning.