Trading stocks online is surely an expert’s cup of tea but there is no way that you can’t learn it too.
In this rustling bustling world of numbers, it often becomes very hard to get a grasp of stocks as with every fluctuation in market the trend changes. For those of you who are dangerously familiar with the market fluctuation, understanding stocks and trading online is nothing out of the ordinary but for someone who is just taking baby steps, It might be cause of insomnia.
Learn the language
First and foremost thing to do would be to understand the terminology. If you are relatively new to the field and it’s only your friend’s success that has dragged you into trading, make sure that you know what you are doing. The world of online trading is a complex one but once you get a hang of the crunching, it becomes easier day by day.
With every trade done, you’ll start to realise your mistakes, something that you’d be doing a lot but you don’t need to worry about making mistakes or taking wrong decisions because this would only help you become wiser and sharper.
Be patient
Know what does PSX stands for, what is KSE, and who is a broker. If you have decided to up your game, then understand that Pakistan online trading is a vast ocean that welcomes all but can be really choosy. For some the journey is sour initially but sweetens as they gain experience and for some it is really rewarding initially but later on they go bankrupt.
Dive ahead
Now that you know the basics, try opening a broker account after making a selection of your brokerage firm. Ensure that the account is in your name, also open up a CDC sub account and If you feel like it a CDC investor account is good too.
Place your orders through the stock broker once you have decided on the stocks that you want to buy. Once you have confirmed your order, you’d be given a Trade Confirmation. NCCPL (National Clearing Company of Pakistan Limited) settles the sold or purchased shares and it’s the CDC (central depository company limited) through which exchange of shares is done.
This is just the beginning and this is how you can trade stock online but beware of the risks and rewards.