Just started your first 9-5 corporate job and getting drowned in advice to invest in your future? Finally have some money not spent on ridiculously high rent or shamelessly overpriced groceries, with no idea on how to start looking at futures and options? Worry not, friend, for you are in an allied country here. Most youngsters tend to think that stock market trading is somethin
g bougie, something meant for those with bigger bank accounts. My, what a myth that is.
Stock market investing isn’t as inaccessible as it seems, especially with the myriad of sleek mobile interfaces popping up. Often, those at the very beginning of their careers think trading is either for retired uncles or finance bros glued to their screens, obsessing over the charts of NIFTY_50. Investing, however, is both a learning opportunity and a way to discover being financially responsible. It’s not quite the nightmare we fear it will end up being. Trading is too stereotyped as being way too risky, the kind of financial move best left to the professionals. Now, armed with data and communities, it’s something you too can easily dip your toes in
One of the areas all new investors ought to explore is intraday trading. It essentially means the buying and selling of stocks on the same day. It’s about riding the wave and making a quick buck. Sounds a bit like a gamble? Fear not, friend. An intraday screener has your back. It shows what stocks are moving fast, what’s charting well and helps to locate the window of opportunity. Instead of making a blind guess, tools like these aid you in securing the best possible outcome by giving you a more structured gateway into short-term trades. It ensures that you don’t get overwhelmed by making a trade on the same day by highlighting your most promising stock options.
Another exciting concept is BTST trading, short for Buy Today Sell Tomorrow trading. It’s a short-term form of trading where no long holding is required. It’s most certainly high-risk, but getting to make a quick study of how the money moves is very rewarding. One can use small-scale experiments to gain some insight into money movement without risking too much. Trading, after all, is a skill that can be honed with some practice. Young people can start small without the pressures of long-term holding, gain an understanding of market fundamentals and build confidence without diving too deep just yet.
While trading is certainly rewarding, when looking at building wealth by letting your money earn money, one should turn to long-term investing. To really compound your fortune, you must look at building a strong investment portfolio. By picking out strong, reliable stocks to invest in, the youth can enjoy seeing their wealth grow over the years. Stocks of certain A-list companies can act like compounding nest eggs, functioning as a financial cushion for a rainy day or an emergency. Learning to invest even a small chunk of their earnings at the very beginning of their work life can develop into a healthy financial habit over the years, maybe even leading to a financially secure future at a younger age than most of their peers.