Online Trading - Things to Know Before You Start Online Trading

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5 Things To Know Before You Start Online Trading
Prsented by 5paisa.com
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Introduction
Online trading is not entirely different from
offline trading. While technology is a major
difference, there is also a difference in terms
of the responsibility for trades. When the order
is placed via a call, the onus is on the dealer
to execute instructions. In case of online
trading the entire responsibility is on you to
get the best trade at the best price. The buck
stops with you. Our 5-point agenda can help you
be more successful in trading online once you
start.
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Things To Know Before You Start Online Trading
1. Have a Clear Cut Trading Plan in Place
It is all about defining the objectives of online
trading. Basically, the trading plan
encompasses, how you select stocks, how you scale
up your exposure to a particular position, how
much risk you are willing to take in a day.
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2. Do Your Homework Thoroughly
You need to be well read and have adequate
knowledge of company reports, sector views, macro
research etc.
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3. Be a Fanatic About Your Online Security
This is perhaps the most important thing to take
care before you get into online trading. Avoid
downloading any unknown software and games on
your hard drive to protect the integrity of your
trading system. Use dual authentication for
trading and keep your password complex and hard
to guess.
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4. Learn to separate the online wheat from the
online chaff
As an internet trader, you are connected to
internet 24X7. That has its merits and demerits.
You have easy access to all the news, information
and insights at the click of your finger.
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5. Focus on Visible and Invisible Costs
You trade online because you want convenience and
low costs. Do a complete evaluation of your costs
in terms of brokerage and other statutory costs.
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About Us
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invested carefully to get maximum returns. We
make this possible by bringing you technology
driven solutions that enable you to invest at a
lower cost. We empower you with information to
take right decisions at the right time. Our
simple and easy-to-use interface is aimed at
waking up the investor in you! The Digital
Investor of the future!
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