Best Trading Platforms in India

History And Overview Of Trading:

Trading is an age-old practice and is a means of earning money and promoting globalization. Earlier, traditional methods of trade were used and the medium of exchange was goods for goods. This was known as the barter system. Later, people developed currency and started exchanging money for goods and services. This increased the hunger for gathering wealth amongst people as money became really important and everybody began to find ways to make their money grow.

Initially, money was only in the form of cash, that is paper notes and metal coins that had different values both within and across different countries. Different countries had their specific names and values of money known as currency. The value of the currency of any country is determined by its financial status in the world concerning other countries. This differentiation gave rise to international trade which proved to be a big turning point in industrialization and globalization.

Following that, there was the arrival of the stock market. It includes various private and government-owned companies that are publicly listed for people to buy their shares so that they can generate revenue for their growth. The Indian stock market was established in 1875 and has its headquarters in Mumbai. Initially, a lot of paperwork and documentation was required to invest in the stock market and shares of the company were purchased by exchanging cash of the value of that share for physical tokens and this was also done with the help and advice of stock brokers.

Today, as the world is progressing towards modernity, everything has become digitalized and physical currencies have taken the form of digital currency. Now, it is easy to verify your identity in the stock market and even start investing in different stocks, buy shares of any company you want, trade your shares online, and maintain a stock portfolio on your mobile or your desktop through the different trading apps and trading websites or brokerage apps.

Mutual funds are just an extension of trading, except a group of people are involved in the investments, and an expert and highly knowledgeable broker is responsible for their handling their investments.Other than the stock market, there has been an upsurge in digital currencies known as cryptocurrency like bitcoin, dogecoin, etc.

The online trading market, although risky is a potential investment opportunity that can provide you with great returns if you are careful and knowledgeable enough while trading your stocks or digital currencies.

Tips For Effective Trading:

Here are a few tips to make the most out of your trading journey!

A trading plan is a set of rules that specifies your entry, exit, and money management criteria for any purchase. The trick here is sticking to your trading plan without getting greedy because although other purchases may seem very promising, driving out of your trading plan is considered a poor strategy.

Trading markets can be risky and often uncertain and losing money while trading is very common. Hence, you must only invest an amount that you can afford to lose and won’t stress over. Investing huge a amount and losing it can be overwhelming, depressing, and stressful for many traders and in worst cases, can cause them to lose their livelihood.

If you have incurred greater losses than you had predicted and are consistently making losses in the market, it is recommended that you stop trading. The reason for this could be that the markets may have changed or the stocks may have become volatile. In such cases, you must stop investing more money, re-evaluate your plan make new strategies, and then start again.

There are various reputed and trusted Finance apps in India like 5Paisa, Zerodha, Motilal Oswal, etc which offer a great trading experience and security for your money. There are various other apps and websites like Upstox, IIFL Markets, etc. You must read reviews of these apps and websites to understand which one suits your requirements the best before you start trading.