How to Learn Share Market a Step by Step Guide in 2021
There is no doubt in the fact that the demand for the stock market broker is growing day by day. As of the year 2020, an average salary of a stock market broker is Rs. 55,000 and a share market analyst makes about up to Rs. 15 lacs per annum. If you want to make a promising career then you must invest in the learning share market as it is the most aspiring career prospect.
But even if you’re not interested in working in the financial sector, then also you can learn about the share market and improve trading or investing skills.
Investing in the share market comes with several benefits. It allows you to reach your financial goals by saving money in a short span of time. On the other hand, working professionals upgrading their trading skills can help their company become more financially sustainable.
So you decided to learn share market? If so, there are several share market online courses to choose from. Choose a course that matches perfectly with your requirements. Starting with an online stock market beginner course you can build a strong foundation by understanding the key terms used in the market. Post that, you can opt for an advanced stock market course like technical analysis course, fundamental analysis course, or trading strategies course.
These advanced-level programs help to polish up your learning. Each of these courses specialises in helping traders improve their trading techniques, thereby increasing the probability to earn profits in the market.
There is a huge range of resources available online from ebooks to mock tests to practice the subject, Learners can pick the resource which offers them valuable experience.
Here are a few more tips for beginners on how to learn share market step by step.
Step 1: Find your passion
Discovering a passion isn’t about money. It is also about making good career choices. Ensure that you have a love for the share market. Everyone talks about the commitment to learning. But no one stresses the importance of passion.
Stock market is a broad domain. With a lack of motivation or passion, you won’t be able to reach even halfway. If you believe yourself then you can do everything. You don’t need anything to motivate you. Passion comes from within. Trading involves focus and deep understanding of the market. So if you got what it takes to become a better trader then you must begin your career.
Step 2: Practice to learn
Learning the stock market, technical analysis, and trading strategies are important. But most of the stockbroking does not involve it. As a working professional stockbroker, you must have a knowledge of money management skills, risk management, and portfolio building. As a stockbroker, your core role is to manage clients’ finances.
The best way to learn these skills while preparing for an NSE certification examination. The exam prepares you for the job and enhances the skills required to enter the market. A stock market certification course enables you with all these skills.
In addition to this, you need to practice what you have learned. Start paper trading to get an insight into how the market works. Paper trading is a virtual trading platform that allows you to practice placing buy and sell trades without an investment.
Another approach is to find a deep problem and predict the stock price by dividing into small steps. Study the daily chart pattern, follow news and data to understand the technical aspects of the market. This exercise will strengthen your technical knowledge and enhance your trading skills. More importantly, will help you to boost your trading confidence.
3. Learn to communicate
Often a stock broker is demanded to present their market prediction before or after investing. A broker is valuable in every aspect for their investors. To convenient your clients to make an investment in a particular stock, you are required to communicate efficiently with the client.
The segment of communication with clients includes the study of theory and tools. Else you’ll be never able to explain the client. Thus, it’s important to build up a core knowledge and collect data to support your finding. A strong plan will help you to convince your client easily.
4. Get a certification
Having a certification with your resume will not likely get you a job. A recruiter will analyse your application based on your skills and technical knowledge. Certification does not showcase your potential skills in stock trading. However, stock market certification is incredibly important as it adds value to your knowledge.
Joining an online stock trading course offers certification can still be a great investment. But it is crucial to keep in mind that you need to master the skills covered during the course. When a recruiter looks at your resume they will test your skills, trading experience, portfolio etc certification will not change their mind.
5. Learn the skills sets
There is a long list of skill sets that you need to master. You might find a list of an intimidating list of skill sets online but the good news is that you do not need to learn all of them. Based on the job profile you can learn the skills required to do that work. Some common skills required to learn are:
- Research and analytical skills
- Market study and changing conditions
- Record keeping
- Risk management
6. Learn from mentors
Mentors help you to learn stock trading and develop particular skills. They typically help you to set the topic, establish a goal and build a learning module. Choosing the right mentor is not a painful process. Talking to the potential mentors will help you do the right thing.
A mentor is a person who guides you with the wisdom of trading expertise. They offer constructive feedback. They will always carefully listen to you in a way that you end my learning.
The Bottom Line
The article does not intend to offer a roadmap to what to do. Consider this post a set of guidelines to learn stock market on your own path. Everyone has a different journey and can absolutely modify as per their career choice. If you follow all of the above steps you will surely adapt to developing successful expertise.
But, if you have a different approach to motivation and keeping the passion high then do not hesitate to adopt into your long-term career growth. Remember that anyone can learn the share market if you approach it in the right frame of mind.