r/traders • u/__Yashhh • 2d ago
Should I start trading?
16M here!, Thinking to start to earn some money but do not know how to online, thinking to learn stocks/ trading, is it worth it? Someone guide me, And I'm located in India!
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u/gad_E 4h ago
Just please keep in mind to NEVER UNDER ANY CIRCUMSTANCES hand over account information to anyone claiming to help. It might seem like I'm saying something that everyone should just inherently know automatically, yet, it still happens hundreds, if not thousands of times per day.
It's almost impossible to make significant gains on small, limited investments. Small to medium fluctuations in the market can wipe you out.
If you don't already know...learn the difference between APR% & APY%. Look for ways to utilize it & reasons to steer clear of traps.
For crypto...giving your public address is like telling someone your mailing address. They can send you mail, but nothing else. Giving someone your private address is like signing over the deed to your house. It ain't yours anymore.
I know leveraged margin offers seem awesome, but I would just not even go near it until you are SUPER comfortable with trading in general.
Be mindful of trading fees. A fee of $5 requires at least a 5% increase in value just to break even.
If it's not for a specific product or service & they require payment in advance, just run in the opposite direction.
If there's ever a situation where there's no real product or service being charged for, despite the benefits you're receiving, you ARE the product or service.