How to choose the best stock market classes in Mumbai?
Choosing the right stock market class matters because it makes a big difference in how you understand the market. Not every class is worth it, so you need to filter properly.
- Focus on candlestick patterns & price action strategies, Indicators (RSI, MACD), and chart reading
Indicators are easy to use and understand as they are basically formulas to understand whether a stock is oversold/ overbought or trend is bullish/bearish.
Momentum Indicators are very useful but work better only when backed by strong understanding of price action through candles stick patterns like Hammer, Engulfing patterns and Star patterns.
At Tips2trades, focus is both on price action strategies, support and resistance, pivot points, trendlines along with momentum indicators like RSI Divergence, Bollinger Bands, Stochastic oscillator to identify trend reversals at a faster pace.
- Live 1-1 market sessions, not just recorded theory
- Go through Google and Reddit reviews, not just their website
- Avoid anyone promising guaranteed returns or fixed income
- See if they offer a demo or trial class before joining
At Tips2trades, focus is more on Live market sessions to help our students to take the right decisions in terms of Buying or Short selling in Cash, futures and options markets.
This helps our students understand the process of trading or investing in real Live market pressure situations and prepares them for the future.
Attend our 20 minutes free demo sessions to understand what you will learn and how this course will benefit you at Tips2trades
What new traders need to know today?
Starting trading today is easy as it takes max 2-3 days to open a trading and demat account, but staying consistent is the real challenge. Most beginners rush in without understanding the basics, which leads to mistakes.
- Focus on risk management before thinking about profits
Having an exit strategy before entering the trade is more important.
Not keeping a Stop loss is fine but without knowing support and resistance points, it is a disaster waiting to hit your account.
Either trade with a Stop loss or be prepared to hedge your position with options as volatile markets could bleed your trading account without a clear strategy.
- Stick to practicing basics like price action, trends, and indicators
Focus on candlestick patterns and use only a few indicators like RSI Divergence and Bollinger bands or EMA for clarity.
The more charts one observes, the better one gets in terms of trading or investing .
- Avoid overtrading and don’t follow random tips
In fact, the lesser one trades, the better. Focus on clear trades at very oversold or overbought levels than when market is in sideways range.
Avoid following random tips as your conviction of understanding the charts will help you make consistent profits than being dependent on third party trading or investment calls.
- Start with small capital and gain experience first
Trade with minimum capital of Rs 20,000 and focus on only 1 lot in terms of Buy Call/Put in options trading or even in the cash market.
Remember, Rs 1000 profit intraday on a capital of Rs 20000 is still 5% a day which is excellent returns. Trading is a game of percentages !
- Accept that losses are part of the learning process
No matter how good a trader one turns into, few trades will lead to losses. This is a part of one’s trading journey.
Losses can be very upsetting but over a period of time helps you understand where one needs to fine tune our strategies and turn into better traders or investors.
Learn from one’s losses or else consistent profits become almost impossible to achieve.
Trading is not about quick money, it’s a skill you build over a period of time.
Consistency and discipline matter more than anything else. Both these attributes come with knowledge that will be provided to you by Tips2trades