A confluence of factors ranging from high penetration of computers and tablet, to wide spread computer literacy, to greater connectivity speeds, have all contributed to forming an explosion in Online Investing. It was only in 2000 that Geojit BNP Paribas (then Geojit Securities Ltd.) pioneered online trading in India. Since then, the transformation has meant not just a quantum leap in the number of investors, but also in the class of investors. While earlier it was just young, tech savvy investors who flocked to the Internet, now everyone from retiree’s to stay at home spouse’s are using them. All this has however meant that Investor’s must more be aware of pro’s and con’s of online trading, to enjoy its full potential. Here are a few online share trading tips.
1 Virtual learning Platform: Use a simulated trading app/platform to do virtual trading. This will make you comfortable and help you hone your trading/investing skills. For example, Geojit BNP Paribas offers a facebook investing game called Flip Social which offers usersthe ability to trade with virtual money.
2 Support: Visit your nearest branch once at least to familiarize yourself with the online trading platform. You must remember that to execute the right trades at the right time, you must be comfortable with your online trading platform/application.
3 Stop Loss: Remember to strictly stick to your stop loss markers. Your must remember that investors who are coolly rational do better over a longer time frame, than investors who get carried away by market swings.
4 Security: Make sure your access details (username and password) are kept confidential. Furthermore you must also ensure that your broker adheres to all cyber security and privacy protection rules.
5. Connectivity: Users need to ensure a steady and reliable internet connectivity for smooth trading. This is very much important while placing trades and orders.