The past few months hold testimony to the power of the stock market, with millions of new participants entering and most making a fortune. While it is easy to make money during a boom, if one believes that such a streak will continue to no end, then they have a lot more to learn than they think.
There can be no arguing that the best first step a beginner can take before starting their journey in the stock market is to take an extensive stock market training course. The point to be noted here is that intermediate/advanced professionals should not get overconfident. The market is dynamic – it changes faster than one can imagine. It is crucial to be up to date with new trends, concepts, and strategies prevalent to survive this battle. Therefore they should also keep returning to the basics and brush them up, while also constantly upskilling themselves to be better professionals in the field.
What will you learn?
An extensive stock market course will teach you many things. In terms of the technical part, it will teach you the basics of the most important concepts. It will also explain all possible terminologies needed to start one’s stock market journey.
Next, a good stock market course will also cover various scenarios and how one should operate under them to most effectively exploit the opportunity in front of them. It is not prudent to only focus on the reward, without giving any consideration to the risk involved in the transaction. Thus a good stock market course will also instill some essential principles of risk management needed to safely make money.
The Psychology :
Though the benefits of stock market courses are many, there is only one that truly stands out – an extensive course will help you build the correct mindset for this journey. It is only if one can master psychology that they can truly master the art of the stock market.
Anything you do in the stock market is essentially 97% Psychology— investing, or trading – it is important to learn how to manage your mind effectively and efficiently. Your learnings and reactions to both your hits and misses and maintaining the balance between overconfidence and a lack of the same, while continuously sticking to the basic principles is extremely important. To be successful at this game, one needs to learn how to cut the noise out, and deal with FOMO effectively. It is only then can one differentiate themselves as a success compared to a beginner — and a proper stock market course will provide the necessary learning experience through tailored sessions that are extremely crucial to building a sustainable journey.
In conclusion, intraday trading is a much harder mental game than most other securities. To be able to think quickly and maintain discipline while keeping their emotions in check are key characteristics that separate a successful trader from a novice.
Why not go for other resources?
Yes, there are a lot of resources available on the Internet. We live in the age of data or the ‘information age’ where there is a solution to every problem on the University of YouTube and the Gospel of Whatsapp! In this plethora of information, it is very easy to be misled and fall into all sorts of traps. It then is imperative to make sense of all the noise. The best stock market course will provide two things that other resources cannot – credibility and structure.
We have all fallen prey to some wrong advice given by WhatsApp gurus, and there is no vetting of the facts and claims made on these platforms. There is a reason why only professionals are allowed to give financial advice. While everyone is entitled to an opinion, only the experts should be allowed to give recommendations on public platforms. The content we find on these sites is often mass circulated, but in the Indian stock market there is hardly ever a ‘one size fits all’ moment.
In terms of structure, a stock market training course will follow a particular order. It will first explain critical concepts, then build a solid foundation and go into the more advanced topics. Side by side you will learn to practically apply these theories in your investing/trading journey. This is where the live sessions conducted in the market play a part. Most of the information available elsewhere (think youtube, WhatsApp, blogs, etc) is static. Their scope is limited to a few scenarios and their analysis. A proper stock market course on the other hand offers a holistic three-sixty degree view of the market and its various components.
The Indian stock market is a sea it is an ocean, and trying to learn through WhatsApp & YouTube is like attempting to swim without fins – the conclusion is inevitable that you will not last long and get tired very easily.
- Information Age has meant there is an overload, with the University of YouTube & WhatsApp ensuring we’re all experts
- Making sense of the noise & giving structure to your learning is extremely important
- Understanding the various concepts, terminologies & what implications they have is key to have a long & successful journey in the markets
- Live sessions, which are conducted in the market that will help learners understand a variety of permutations & combinations vs University of YouTube & WhatsApp that contains information that is static, with limited scenario analysis teachings
- Structure in learning is key, with a step by step process imperative in understanding markets vs YouTube & WhatsApp wherein information is mass circulated, with little or no structure
- What is covered in Stock Market Training? – concepts, scenarios, terminologies, risk management, psychology of trading — can elaborate on each of these
