StockDaddy is an e-learning application that helps people to learn and develop skills in stock market trading. Interaction with Alok Kumar and co-founded by Ranjeet Kumar in 2020, StockDaddy powered by EaseMyTrade, fills the wide learning gaps in stock trading.
1. What are the myths about investing in the stock market that are keeping you from building wealth?
There are three myths that always create hurdles are:
a) It is a gamble
Most people see stock market as a gamble without knowing the difference between calculated risks and naked risks. In fact, there is no single business in which we don’t have the risk of our invested capital, but the difference between a gambler and a businessman/investor is that a businessman always takes calculated risks and tries to minimise and manage them for high success probabilities.
b) It is for affluent class
This is another irrational assumption. The truth is from 1 single share to 1 lakh shares one can buy any quantity for investing in stock markets so it is for every person who is serious for their financial goals and have a disciplined and consistent approach of investing.
c) It requires a lot of technical knowledge
It’s not at all true if you want to start with basic investment or trading. Yes, you need to learn some of the basic skills but that doesn’t involve tedious technical skills.
2. How to Start smart Investing in Stocks (a guide to beginners)
To start investing, one should go for blue-chip companies and accumulate them on monthly basis for a longer duration of time but keep in mind to diversify funds into different sectors and multiple companies. Simply, don’t put all the eggs in a single basket.
3. What are the different stock market earning options available?
In today’s era, there are multiple income streams available from stock market such as you can be an intraday trader, positional trader, options trader, SEBI registered analyst, algorithmic trader, and a lot more.
4. What are the benefits of investing in stocks and importance of knowledge in the stock market?
The power of investing in stocks is it lets the eighth wonder of the world “the power of compounding” work in you favour as the CAGR(Compounded Annual Growth Rate) returns of stocks (mainly well-performing blue chips) can be much higher than that of any other asset.
5. What kind of education and training do you need to start successful trading and investment in the stock market?
Every person must first understand the basics of market and segments of the market like equities, commodities, currencies, derivatives and then he/she must start learning technical and fundamental analysis for markets.
6. Do’s and Don’ts of Investing in The Stock Market
There is a huge list of it, but I would sum it up in a few lines Greed and Fear are the biggest enemies to stock market participants. They can only be avoided by learning proper risk and money management skills.