Something helpful - Page 3

Originally posted by: NatkhatPyare

Hasini do u know about any good apps for practice trading or demo trading in India?

I've burnt my hands in trading before but now i want to enter fully prepared 😆

I tried Moneycontrol but didn't continue....

I don’t use apps for trading Nathu. I invest/trade through demat account.😆

Originally posted by: The_Best

You have to give it a time to first study. At least 1-2 hour every other day or whatever you can do basically. One can put their own money into brokerage to trade, but that’s risky especially for beginners as one can lose the money if one is inexperienced.

Now there are prop firms willing to fund traders if they pass their challenges or the evaluation account. So they usually have sales going on. I bought one 50k account for $20 bucks as they had 90% sale going on. They sometimes have 80% or less sale going on. If the account is 50k, that doesn’t mean the person actually have 50k account because these prop firms have rules like one can lose maximum of 5% of the account before they fail and they have to make profit of 3K in order to pass. Stuff like that. So one has to take very less risking like 1-2 micro contracts per trade which is very less to use as leverage for stock indices like ES (SP500) and NQ. The contract thing must be confusing for you now, but that’s not needed for you to understand right now. But just telling how one has to risk very low with these prop firms in order to pass and get funded. That’s the risk management part of it. But it’s good to get funded for beginners imo than risking their own money to start with which can be $100 or $500 to more. One wouldn’t want to lose their money in such case. So better to start with prop firm by buying it for cheap to get funded and that’s how to start first. That’s just my view and what many start with now because even if one fails the evaluation account, one will lose that $20 bucks rather than a lot of money if they started with their own money to start trading with as a beginner.

What you mentioned is interesting and does not seem that risky and wow 90% sale that’s was a good deal to get the account.

Originally posted by: hasini009

I don’t use apps for trading Nathu. I invest/trade through demat account.😆

Ofcourse trading is through demat account only. I had one in Angel broking. But there are apps for trading simulation and practice, Where u can trade without actually investing money... Just to practice. I was talking about those.

Originally posted by: The_Best

Yes true. There are a lot of scams. Every time I comment something about finance related on Twitter or even on YouTube comments one will see, so many bots pop up to want to scam you. I don’t know about India as I am in U.S. I got an account from a prop firm, and I know many trades do have accounts with them. Prop firm isn’t an app though

Originally posted by: NatkhatPyare

Which app do you have your demo account on.. for practice?

Originally posted by: wat_up

how long have you been doing this harsh just curious ?

I did it actual trading for like six months. Made more loss than profit 😆

So now I've learnt my lesson to enter only after full preparation 😆

Originally posted by: NatkhatPyare

I did it actual trading for like six months. Made more loss than profit 😆

So now I've learnt my lesson to enter only after full preparation 😆

Originally posted by: NatkhatPyare

I did it actual trading for like six months. Made more loss than profit 😆

So now I've learnt my lesson to enter only after full preparation 😆

Originally posted by: wat_up

sounds interesting. I might be interested in this. I have someone who is a trader who handles my stocks and knows when to buy and sell and keeps and eye in the stock market as he’s does trading as a side job.

What you mentioned is interesting and does not seem that risky and wow 90% sale that’s was a good deal to get the account.

I am glad though now there are prop firms to start trading with. With prop firm one can buy the account for 20 or 60 bucks or more depending on which prop firm. That way they will be risking that only than their own 1000s of money. Same with micro which the US stock markets created for people with less funds to invest. Micro is like 1/10th of mini contract. Before only had the option to trade stock market index futures with mini contract and for that one needed to deposit thousands of money to just trade SP500 or NQ with one mini contract. But now with micro I heard one can deposit like $100 or something to trade.

Originally posted by: wat_up

I will message you as I want to know more and I’m in the states as well or just ask you here.