Student Trader ...please help

raedthakur · #1 4th July 2008, 05:42 AM

hey guys,

i am a student and still will be studing for 2 years.... my father has given me Rs 10,000 to learn about online trading by doing it on my own, i have some questions.

1) 10,000 is a small amount compared to the amount of money people bring in while investing ... so would brokers like sharekhan,indiabulls etc actually be a interested in opening an account for me after all i am just a student....?
(i have a hdfc savings account opened,pan card and all necessary documents )

2) i am not expecting any kind of returns from my trading...i will be happy if i don make any losses :P so what type of trading would you guys recommend me to start trading

3) or is 10,000 enough ?

4) i was thinking of sharekhan ...... is it alright coz i have read a lot on this forums how you are not able to log in at peak times?

5) should i start with a browser based trading or software one as i have heard its faster?

any help would be highly appreciated,

Thanking you in advance.

chintan786 · #2 4th July 2008, 07:57 AM

Welcome to this forum raedthakur.......it doesn't matter wht kind of trading stuff u use.... wht matters most is how u trade.... mkt is excellent teacher........ just for start go through the beginers forum and read threads regarding system based trading from SAINT ... CV... UASISH.. OILMAN... etc...... it will really helps u.

warm regards

chintan

chintan786 · #3 4th July 2008, 08:00 AM

And plz delete the thread u allready created for nothing..

raedthakur · #4 4th July 2008, 07:29 PM

i still didnt get any answers from you people regarding some of the questions that are not mentioned on this forum as these are specific questions...

please read the questions.... like question no 1 and 3

thx in advance

CreditViolet · #5 4th July 2008, 08:40 PM

Quick Answers - 10000 is not enough and what broker you choose wont matter for a long time till you learn how to trade.

chirkut · #6 4th July 2008, 09:08 PM

Quote:

Originally Posted by raedthakur

hey guys,

i am a student and still will be studing for 2 years.... my father has given me Rs 10,000 to learn about online trading by doing it on my own, i have some questions.

1) 10,000 is a small amount compared to the amount of money people bring in while investing ... so would brokers like sharekhan,indiabulls etc actually be a interested in opening an account for me after all i am just a student....?
(i have a hdfc savings account opened,pan card and all necessary documents )

2) i am not expecting any kind of returns from my trading...i will be happy if i don make any losses :P so what type of trading would you guys recommend me to start trading

3) or is 10,000 enough ?

4) i was thinking of sharekhan ...... is it alright coz i have read a lot on this forums how you are not able to log in at peak times?

5) should i start with a browser based trading or software one as i have heard its faster?

any help would be highly appreciated,

Thanking you in advance.

Assuming you are serious

1. open a zero balance account with icici. open a trading accnt with sharekhan. no opening charges with either. I am not syaing icici is a good bank or sharekhan provides good service but I have used iciciDirect and sharekhan and they are neither worst nor best. somewhere in between. u can try. you have hdfc. good. use it.

2. if u wont make losses, u wont learn. be prepared to lose all your 10K if you want to do trading. How quickly you lose it depends on your ability and talent

3. as the story goes, some jhunjhunwala or some barren wuffett started with 5K and made it to 5K crores.

4. I dont know. when the traffic on server exceeds its capacity, it will go down.

5. You have only 10k. You will go for browser based trading. i guess there are extra charges for software or something like that you get a card for some rs and you can do trading of 1lac. I dont remeber. I had opted for browser based at that time.

negotiate for brokerage - some 5 or 10 paise for intraday. 25/30/50 paise for cash. You have little cash. you may not negotiate till some profits starts pouring in.

I am in hurry. Good luck.

edit: students study. pain of losing money is enormous - psychologically devastating

. I read somewhere that profits and s*x stimulate same areas of brain. bad performance may effect you badly.

raedthakur · #7 5th July 2008, 12:54 AM

thanks a lot for your reply chirkut..

I am not at all bothered about losing 10,000 because my father has given me that money in my account for that purpose only.

And when I said is 10000 inough I meant ,wether it is enough for learning the process thats all I am asking,and if not then how much would be an ideal amount as this Is just for learning.

And thanks for your concern I will surely concentrate on my studies .

Saint · #8 5th July 2008, 01:32 AM

Quote:

Originally Posted by raedthakur

thanks a lot for your reply chirkut..

I am not at all bothered about losing 10,000 because my father has given me that money in my account for that purpose only.

And when I said is 10000 inough I meant ,wether it is enough for learning the process thats all I am asking,and if not then how much would be an ideal amount as this Is just for learning.

And thanks for your concern I will surely concentrate on my studies .

Have seen this very often......Dad gives boy some cash to play around with.Says "Don't bother if you lose that amount,sonny....." and usual cases,barring a very select few,boy finds a 100 ways to lose that amount.Of course,it being 10k,1-2 ways should do.

What usually happens is that boy gets convinced that there is no way he can make any money in the mkts,and goes back to Dad's business........

The right amount to get started is.......Zero.Trading is not just about buying a stock and seeing if you can make a quick buck and then boast to your father.It's a business,so you have to treat it like one.......invest your time and energy in learning the ropes,paper trade,etc before putting money in small doses.And when you have reached that point when you feel confident in putting in trades,.............10k is not enough.

Plan to fail and end result usually is failure

.....No shocks or surprises,You got the result that you were aiming for.Plan to succeed.Learn how to........this forum is a great start.Lots of experience and knowledge here.Learn,experiment,try in small doses.......succeed.

We usually gravitate towards our goals,once our mind is convinced of it........don't start with a Plan to Fail.

All the best!
Saint

raedthakur · #9 5th July 2008, 02:37 AM

saint you summed up my position correctly.........

To begin with i am ready to fail and .......i understand that it will take more than playing around to learn the intricate working of the market.

but i have to start some where ...so lets see how things work out and for now i will work with the 10,000 and see how it goes ..........

whatever i learn in the process will only help....

thanks guys for all the support .......you people have been of tremendous support

so i will go ahead with share khan account........ will post on this forums if i have any more doubts ....

ARMHM · #10 5th July 2008, 03:59 AM

Quote:

Originally Posted by raedthakur

saint you summed up my position correctly.........

To begin with i am ready to fail and .......i understand that it will take more than playing around to learn the intricate working of the market.

but i have to start some where ...so lets see how things work out and for now i will work with the 10,000 and see how it goes ..........

whatever i learn in the process will only help....

thanks guys for all the support .......you people have been of tremendous support

so i will go ahead with share khan account........ will post on this forums if i have any more doubts ....

There is another newcomer in this forum and that person is a student like you. Follow that thread from the start so what others have said need not be repeated for you. There are some nuggets of advise for a newcomer. Name of the thread starter is "actuaryinmaking". Use the forum's search capability.