Well, the thrill of trading in the FnO segment has taken the entire world by storm, then why on Earth should women sit back and sulk? Women certainly don’t need to be a millionaire to give wings to their trading journey and can experience the roller coaster, adrenaline rushing, intraday options trading with not more than ₹10,000! However, there are a few requirements for the same:
- Demat account (In case you don’t have a demat account, following documents would be required by the broker to get one opened.)
- ID proofs comprising PAN card and Aadhar card
- 6 months bank statements
- A copy of your last Income Tax Return / Cancelled cheque / Updated or latest salary slip
- Trading capital to get started!
Options trading is among the easiest ways to make or lose money. Many traders wipe off their trading capital within a month of swinging on this roller coaster ride. An absolute necessity to begin is knowing the markets, indexes and the movements (Although, movements are super intricate to decode, given a number of factors like futures’ monthly and options’ weekly expiry, economic developments, company events in case of stocks and at times, even insider trading!). So the first step is to get a grip on these. Next, master the art of technical analysis and trading strategies. Once you’re good to go, deploy a capital of not more than ₹10,000 in your trading account and be mentally prepared to lose a portion or most of it on account of beginners’ goof ups!
Now that you’ve entered the battlefield, NEVER deploy more than 30% to 50% of trading capital on a single trade. For instance, if your trading capital is ₹10,000, then never allocate more than ₹3,000 – ₹5,000 on a trade. For the first 5-10 months, DO NOT exceed your trading capital beyond ₹10,000 – ₹15,000. Why? Because you’re still learning. Once you sit in front of the trading screen, a plethora of emotions guide your trade decisions apart from rationality. To attain composure, confidence and credibility, give yourself some time and trade with minimum amount of money. For every lost trade, consider it a tiny tuition fee paid to the market! Haha! For more inspiration, there are always some amazing success stories, you can follow!
Want to learn the art of technical analysis? Join our short terms course on The Basics of Technical Analysis today!
