Dalal street is an exciting place. It is like visiting their dream destination, and for some, it has become a perfect nightmare. Those who understand, investigate and invest are more likely to make it their dream destination. In contrast, those who imitate, wanting to make a quick buck, invest without investigation are more likely to make it a nightmare.
That being said, if you invest without understanding the basics and deep-diving into important concepts, rather than investing, you will “Gamble” in the stock market. If you can identify yourself with any of the below behaviors, you are Gambling in the stock market, and you need to correct your approach before it becomes too late.
Anish Singh Thakur, Founder and CEO of Booming Bulls Academy, An Edtech company focusing on stock market literacy, says, “ A lot of electronic media, print media, digital media, etc. Provide buy/sell/hold related stock market tips for various scripts. It is fine to note this and potentially use them as criteria for shortlisting your scripts in this sea of stocks. However, we don’t recommend news-based trading in our videos and courses. Instead, we recommend a technical analysis-based approach which is independent of news-based trading.”
Another false method of success that is seen is following the footsteps of an acquaintance. A known person in your circle made good returns on his/her investment. Naturally, this makes you excited, and you jump to invest in stock markets without doing your due diligence.
Anish quotes, “A strategy which worked for someone may work for you or it may not. So replicating someone’s strategy without doing your analysis is also a form of gambling in the stock market.”
Another fallacy Anish and his content try to tackle are putting all the money in one or some stocks. Even though this one is not so common, newbies tend to invest all of their capital parked for stock markets in only one script that may be recommended to them by an expert, a friend, or has worked for someone in their circle. As they say, don’t put all your eggs in one basket, the same holds for the stock market also. Putting all your capital in only one stock is a high degree of gambling.
You read news on the internet that you think can move your script and invest a lot of chunk on your capital, from Anish’s perspective. “This is a sure shot fail strategy. It takes nanoseconds for the news to reflect in the stock market, so your plans to make big bucks based on the news you read will surely fall short. So instead, take such news as one of the inputs in your stock market strategy and decide only after your rigorous analysis.”
All of us have limited capital and intend to make the most out of it. Hence, to avoid falling into these traps, it is very important to equip yourself with a strong technical analysis of the stock market to make a diligent call. Booming Bulls is a leading edtech company that offers quality learning material through videos on its youtube channel to bridge this Gap.
Saurabh Khaspuri, Chief Marketing Officer at Booming Bulls Academy, says, “The main reason for why we launched our Youtube channel in the first place is that money does not become a constraint for anyone to acquire stock market knowledge.”
Founded by Anish Singh Thakur, a young entrepreneur from Chattisgarh with a humble background, Booming bulls have an ever-growing subscriber list on its youtube channel. Anish Singh Thakur is on a mission to make India more financially inclusive by working with the youth of this country.
Abhirup Sekhri, Chief Operating Officer of Booming Bulls Academy, rightly quotes, “India’s youth is India’s strength. We choose students who are willing to take a step forward and achieve financial freedom in the long term”. Booming Bulls has already impacted more than 1 Million lives through its YouTube channel and online stock market course.
Visit their website: http://boomingbulls.com