Thursday, January 1, 2009

Online Investing, Is The Challenge Worth The Risk?

By Walter Fox

I have worked in the manufacturing industry in India for over 30 years, my employer is among the top ten in India, but I had no knowledge of the stock market. I refused to even participate in my employers 401k plan, but my relatives advised me to learn more.

A few years ago my family started to encourage me to invest the stock market, but I was hesitant. With the help of a local broker I bought a few shares. This was the beginning in my adventure in the stock market.

I had a great first impression of the stock market I was able to make a nice profit. This was the beginning of my stock option trading life. An alien field now was a very important part of my life.

Unlike today, back then the stock certificates were still printed, but it didn't take long to transition to paperless trading as I became more heavily involved in the stock market. My stock broker started to use a computer to execute trades as the internet quickly expanded through India.

I slowly realized that stock options trading strategies had progressed and I began to learn more about this field. Options trading went from an alien topic to a well known topic often advertised on television. Stock prices are now given on television.

As stock option trading systems became popular, I applied for a demat account (a paperless account in India) and subsequently applied for an online trading account and started to trade on daily basis. I saw so many ups and downs in the market as well as in my fortune. Through mobile phone, I used to give trading instruction to my share broking agency.

Now three months back I applied for the software of the broking agency and got it installed in my personal computer at home. My wife, who is a commerce graduate and housewife, is utilizing this opportunity and trading on my behalf. Now my confidence level has gone up and I have begun guiding my friend on trading.

I now watch the world market in addition to the Indian market. Currently all of the markets are dependent on one another. Now all of the markets are dependent on the American market. As the American market improves, the whole world market improves. Every investor loves to see the index in the green.

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1 comment:

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