You all have an idea to earn money on the share market but at the same time you will have a fear that your money might be lost due to this reason you're not starting your journey in share market. Many people call the share market gambling and they shouldn't participate in gambling.
The share market is not a gamble or any other scam or illegal way to earn money, it is one of the ways to earn money in this world which requires more knowledge in this field. If you do not have a good understanding about the stock market then you will lose your entire money.
Many finance gurus will be advised to invest your money in the share market if you want to multiply that money 10 times. The share market is one of the best ways to invest your money but it also includes risk.
We all have heard that someone will earn money in lakhs in the share market and somebody will lose money on the same share market. You also have an idea to invest some money on the share market. And it is a great choice when you want to increase your wealth.
What are the Requirements to earn money on the share market?
First, let's see the age requirement. If you're under the age of 18 you are not eligible but you can start trading with the supervision of your parents, You all cleared this doubt right there is no minimum age to get into share market.
So the next requirement is money, which is not what you have in your savings account, so I'm not suggesting that you invest your savings amount into the share market.
You should invest the money which you don't need for the next 10 years because you should have to invest long term in the share market. So the next requirement is to create a demat account in a professional trading platform such as Angelone, Zerodha, Upstox etc..
The required documents are your PAN card, Aadhar Card, some verified proof and your passport size photo.
You need to create a demat account because your shares are going to be stored in that demat account like the bank is storing such that the demat account is for holding your shares and you should have a bank account. Mainly, you should have a clear knowledge of the share market before investing a single penny, if not there is no problem you can learn first and you can earn after that.
To earn money with small risk then you have to invest for a long term such as 20 -30 years and you should have patience and no greed for money to earn money in this field.
Trading or Investing?
Many people have this main confusion as to what is trading and investing. Trading is also an investment but in trading you have to invest your money for a short term and your profit will be according to your investment amount as if you invest more money you will get more returns. Investing means you have to invest your money and hold it for many years so you can get a good amount of returns.
You have doubts about which has more risks when it comes to risk factors here Investing wins as it is low risk when comparing it with trading. You all wonder which requires more knowledge when it comes to knowledge.
For both you should have good knowledge when compared to trading investing that doesn't require too much knowledge. As a beginner I'll suggest you learn the basics and understand that stock market completely and do some of your own market research.
How can I become successful in the share market?
Here is the main part of this content. You have self doubt as you will become a successful trader or you might lose your money in the share market. First leave those negative thoughts and embrace positive thoughts and have a thirst to learn the stock market. Spend your time learning about the share market.
Knowledge is power in any field to become successful, you should put your hard work into learning the stock market. Learn how to do fundamental and technical analysis.
Once you come to understand that knowledge is enough to get into the share market then you can start your investing journey in the share market.
Everyone in this must have patience and a risk taking mentality. Keep in mind that these are not only the requirements to become successful in the share market there are many things to learn.
Conclusion
In the field of the share market you should have a strong mind to face loss, Risk taking capacity and you should be patient. Don't invest your bank savings into the share market and at least learn the basics of the share market and after you can start your journey in the share.