I am searching for a job, which seems a distant possibility given the stage i am in right now.So to make some money, i want to trade in securities online.In this regard, i want to know a few things:1) Which is a good institution with which i can open a Demat Account?2) What other formalities that have to be taken care of, while doing this?I wont be a heavy player, may around 10-15 k will be the amount with which i wud start. SO i hope that the FIXED charges for opening an account & maintaining them are minimal. Once that is clear, i can think of how much brokerage each of them charge.I remember some members here talking that they are involved in this line, so i thought i might get some valuable inputs from those in this line.
Want to do some trading in Securities Online
- Thread starter Jaymin
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Before you do all that, the question that begs attention is - are you aware of stock trading? Doesn't matter whether you have done it on the paper, mock accounts, or with your friends accounts. If you are new to stock trading, and if you are in need of money like you said, I would advise you to try something else - like investing in mutual funds. Stock trading is not for the weak hearted, needs a lot of discipline, and also has a learning curve
stay away from ULIP policies 
i have suffered enough already. bajaj allianz claims that i am profitable. at least on paper. but they are not counting the charges in the money i invested. and from my point of view, i am actually losing money. quite a lot actually. if i go by them, i would have to continue investing for another 7 years before i can think of breaking even! forget profiting from it.
i have suffered enough already. bajaj allianz claims that i am profitable. at least on paper. but they are not counting the charges in the money i invested. and from my point of view, i am actually losing money. quite a lot actually. if i go by them, i would have to continue investing for another 7 years before i can think of breaking even! forget profiting from it.Yes thats why i said i will start with small amounts. And sometime somewhere 1 has to start. We cant be all "Learned traders" from the start.
Yes with the basic knowledge i have, i am aware that investing in long term securities is helpful. So thats not an issue.
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I surely dont want to go for ULIPs......for stability i wud think of Debt based MFs. But thats a small part of it.
Yes with the basic knowledge i have, i am aware that investing in long term securities is helpful. So thats not an issue.
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I surely dont want to go for ULIPs......for stability i wud think of Debt based MFs. But thats a small part of it.
I am searching for a job, which seems a distant possibility given the stage i am in right now.
So to make some money, i want to trade in securities online.
In this regard, i want to know a few things:
1) Which is a good institution with which i can open a Demat Account?
2) What other formalities that have to be taken care of, while doing this?
I wont be a heavy player, may around 10-15 k will be the amount with which i wud start. SO i hope that the FIXED charges for opening an account & maintaining them are minimal. Once that is clear, i can think of how much brokerage each of them charge.
I remember some members here talking that they are involved in this line, so i thought i might get some valuable inputs from those in this line.
the best avenue for a retail trade is to go with sharekhan or indiabulls. they will provide u witha trading terminal as well as website based access and of course phone based. having said that i wud suggets u paper trade before going live. have a proper trading system in place.
agantuk has rightly said. u will need extreme levels of discipline, the capacity to bear losses. and don't even think of making money for the 1st 1-2 years. its a full time profession unlike any other in the world
i agree u have to start somewhere btu why do it with real money unless u have a consistently profitable system in place? 1st develop a system then trade.
So to make some money, i want to trade in securities online.
In this regard, i want to know a few things:
1) Which is a good institution with which i can open a Demat Account?
2) What other formalities that have to be taken care of, while doing this?
I wont be a heavy player, may around 10-15 k will be the amount with which i wud start. SO i hope that the FIXED charges for opening an account & maintaining them are minimal. Once that is clear, i can think of how much brokerage each of them charge.
I remember some members here talking that they are involved in this line, so i thought i might get some valuable inputs from those in this line.
the best avenue for a retail trade is to go with sharekhan or indiabulls. they will provide u witha trading terminal as well as website based access and of course phone based. having said that i wud suggets u paper trade before going live. have a proper trading system in place.
agantuk has rightly said. u will need extreme levels of discipline, the capacity to bear losses. and don't even think of making money for the 1st 1-2 years. its a full time profession unlike any other in the world
i agree u have to start somewhere btu why do it with real money unless u have a consistently profitable system in place? 1st develop a system then trade.
I didnt understand that how paper trading can help me establish a proper system in place.PS: This isnt taunt, i genuinely want to know. Coz both are totally different ways of trading right? The paper method being the lenghtier & time consuming one.....
D
Deleted member 13033
dnt get into online trading...its only fr ppl who knw what they are doing......there is s*** of s*** that happens there........nd ppl who knw it only make money and rest end up making huge looses......and what ever you do dnt open account with angel broking they are the most crap...... torturous service providers I have come across. They will not open you limit in time........keep calling them and they will keep dodging your phone....its just horrendous torture......Indiabulls is fine as if now.......( My RM of Indiabulls wrote wrong cell no. and wrong address too......nd was blaming me I gave him that....... I told him to have look again at the documents I have given him and also the separate paper sheet with all the personal details he required then he finally admitted his mistake and wanted me to go to gurgaon to pick up my kit.....I refused obviously as this was not my fault......he kept on insisting....that I need to go to gurgaon.....finally I complained about this after one week or so gt a call to give me my user name and pswrd on phone. )
I didnt understand that how paper trading can help me establish a proper system in place.
PS: This isnt taunt, i genuinely want to know. Coz both are totally different ways of trading right? The paper method being the lenghtier & time consuming one.....
He means practise before you jump into trading. Just 'mock' buy some stocks for certain amounts, and see how you are doing when it comes to picking the stocks. Track daily, see how the movements are, make changes, sell, buy etc, and after a month you will have some idea about what went right and what went wrong. If you can tie it up with a 'why', you are good to go. Trading isn't rocket science, but isn't kid's play either.
Not sure why the mention of ULIPs has come up since you mentioned only stocks, however, I agree that whatever be the case, stay away from ULIPs. You would be much better off investing in a mix of balanced and debt funds. If you have dependents, take a term insurance policy. You get great coverage for nominal amounts.
PS: This isnt taunt, i genuinely want to know. Coz both are totally different ways of trading right? The paper method being the lenghtier & time consuming one.....
He means practise before you jump into trading. Just 'mock' buy some stocks for certain amounts, and see how you are doing when it comes to picking the stocks. Track daily, see how the movements are, make changes, sell, buy etc, and after a month you will have some idea about what went right and what went wrong. If you can tie it up with a 'why', you are good to go. Trading isn't rocket science, but isn't kid's play either.
Not sure why the mention of ULIPs has come up since you mentioned only stocks, however, I agree that whatever be the case, stay away from ULIPs. You would be much better off investing in a mix of balanced and debt funds. If you have dependents, take a term insurance policy. You get great coverage for nominal amounts.
@ Anant.....U seem to have quite an experience with some brokers!!@ agantuk....Regarding mock trading, i think Moneybhai investor is a good "Mock exercise". Had heard a lot about it, & tried it myself. I played with it for about a year or so, but i got frustrated each time they reset my portfolio, so i left it. Let me know if Moneybhai is a good exercise or not.Even i was surprised at the talk of ULIPs. But yes, when i say "Securities" it just doesnt mean stocks. With adequate funds, i wud prefer Options as well - although lower returns, but still some good return is guaranteed.@ Toocool....Yeah, waiting for ur inputs. I think u had shared this before that u are in this line only.