To simplify the trading process and make it available for regular investors, brokers such as Angel One have launched Angel One online trading platform. It is a technically advanced platform that connects together Demat account, trading account, and bank account. It allows trading account holders to trade from anywhere, as per their convenience.
Here are a few important steps to follow if you are keen to know how to do online trading and build an online trading portfolio:
- Steps for selecting a stock broker
- Opening a Trading Account
- Understand the Trading Platform
- Start Trading Online by building your Online Trading Portfolio
Steps for selecting a stock broker
- Do the complete background check of the Stock Broker
- Select a Broker with a good reputation by checking references online
- Check for simple, speedy & secure stock trading experience on Mobile & Desktop
- Check the ease of contacting a broker in case of difficulties
- Feature-rich stock portfolio reporting facility improves your trading experiencing
Opening the Account
To open the trading account, visit the Angel One website and choose the Angel Eye trading platform which is good for beginners as well as traders. To open the account, click here.
After filling the registration form, a person from the sales team will get in contact to explain you the entire procedure.
You need to submit Know-Your-Customer documents that include proof of address and identity along with a member-client agreement that outlines the various terms and conditions for online share trading. After verification of details and final paperwork, you shall receive the trading kit.
On receiving the log-in name and password details, traders can start with trading; it is recommended to modify the default password to avoid any hacking risks.
Understand the Trading Platform
Angel One team will offer a demo to help new traders understand the entire procedure of online share trading, various tools that are available, and access to other resources. It is recommended for beginners to go through this demo to comprehend the world of online share trading.
Users can also take advantage of the information available on the website of Angel One. In addition, they can read the frequently-asked questions to gain a further understanding of how to trade using the Internet. If the users still have any queries, they can take help from the customer service executives. Most of the trading members offer short-term training modules to help clients understand more about stock markets and investing.
How to Start Trading Online
Having a Demat account and trading account is essential before you start to trade. Choosing the trading account and Demat accounts with the same service provider makes it more convenient for the users to keep track of all their investments.
Investors are advised to start with small amounts that they can afford to lose, in case the market is not favorable to them; it is better to avoid investing by selling assets or borrowing.
Traders, especially beginners, must avoid timing the market; more people invest as the price increases and as people start selling for booking profits, the price falls quickly. It is generally seen that investors make the mistake of selling the stock as soon as the price begins to decline, which must be avoided.
Before one starts online trading, gaining some knowledge of technical and fundamental analysis will be beneficial and helps traders understand oscillators, averages, patterns, and trend lines to make informed decisions.
Most of the trading members offer research reports and analyst recommendations, which can be beneficial in making good investing decisions.
Traders must observe the share market trends without taking too many risks and develop their own strategies. Timely update of strategies along with trial and testing helps in achieving favorable results. It is important to avoid losing confidence in case traders incur losses on their trades.