There are many ways to become rich in any line of Work !! Not only stock market.
if you have a good knowledge , commitment and dedication etc… then robotically you will get rich !!
Coming to Stock Market, it is the place where we can earn huge profits and at the same time unlimited losses so, be cautious before entering in to stock market. My suggestion is if you are interested in investing in stock market and if you are selecting stock market as a career, then be prepared well with income, savings , future retirement , child education, children marriages etc, and many more..
To become rich in stock market is not a simple thing and its not a big thing!! main thing is how much enough knowledge you have on stock market is important, with out knowledge if we enter we face a lot of problems that stimulate on our personal life.
So, be prepare well before entering in to stock market .Learning to live within your means leads to a freer life, debt can be a mean master instead of a worthy servant. save first , spend second . if you do so, building wealth will be a lot easier for you!!
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To do so, you need to understand how to manage cash flow, first look at your manual earnings and multiply that figure by your working years not counting inflation the result may total several million dollars.
Whether you will have that several million dollars by retirement, though , depends on how you manage your cash flow- and how you answer the following questions: What do you need now, what do you want now, and what can you save and invest for the future?
A lot of people buy mutual funds, invest in stocks, gamble in futures and options, but very few become rich by investing in stock market . There are very few investors we know who became rich due to investing in stocks?? But Why only Few Investors?? Why common man able to create wealth in 10–15 years from stock market, the reason is most of the people do it in Wrong way..
Here some people who became rich in Indian stock market:
Here some steps to do it in Right way:
- Find the Right Businesses - Indian markets have 5800 listed companies and they are increasing in number every year, you will wealth creators and wealth destroyers !
- Get Asset allocation Right
- Stop Trading in Futures and Options
- Stop Financial porn
- Understand the basic of accounting & Economics
How to Make Money:
- Value Investing
- Understand the market and its pyschology
- Make your own strategies
- Buy cheap and sell high
- A little luck does not damage anything
- Decide how much risk you are willing to take to get high returns
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Investors see that one day the prices of the stocks are low and they started selling their stocks this is the main problem with the stock market investors , you should have a long term plan of investment to succeed in the stock market.
Investing Wisely buying stocks is the wise way to invest in the future , but make sure you are investing wisely . Make sure that you know the risks and rules when playing the stock market. Never invest more money than you play on losing , one day you could be making money and the next day you could be losing money.
Make Strategy and Stick to it whatever good or bad times when you trade with a timing strategy for years you will realise solid profit and may be overtime, you will even make the kind of money that can fulfil you biggest dream.
Always make a Plan: If you want to truly find long term success in the stock market , the best thing you can do is to go in to every trade with a specific plan, before you get started create a specific risk/reward profile for what you demand of your investments and stick with it no matter what. Never stray from the plan.
Earning millions in the stock market can seem like a daunting task, but it is one that you can achieve. if you prepare yourself for setbacks and understand the challenges that can come with this investing strategy then you may just find yourself coming closer and closer to reaching your investing goals.
Find the below Warren Buffet on Investing:
So, before entering in to stock market first learn more and more about stock market, by many ways books, sites, online stock broking companies etc..,
If you are a beginner then its better to go with Zerodha Discount broker, it is the first discount broker in India and placed 3rd largest stock broker in India.
Zerodha offering like ZERO brokerage on Investments or Delivery and F&O and Intraday with very low (0.01% or Rs 20 per executed order, which ever is low)
Varsity Tool by Zerodha, it is the best place to learn stock market basics, fundamentals , technical analysis and many more etc.., for FREE of cost!!
To open an account and start investing, visit Zerodha.