How to Start Trading - Booming Bulls Channel

Introduction

• Speaker: Anish Singh Thakur.
• Purpose: Emphasizing making an important video over personal appearance.
• Channel: Booming Bulls, 602 subscribers.
• Community Post: 58% votes for beginners' step-by-step series, 42% for trading strategies.
• Plan: Create both beginner and strategy content.

Series Overview

• Content will include intraday, swing, crypto, forex, psychology.
• Aimed at beginners, intermediate, and expert traders.
• First Video Focus: How to start trading.

Key Steps to Start Trading

1. Mindset

• Prepare your mind: Trading is not gambling or for quick profits.
• Reality check: Expect irregular income unless you're a professional.
• Don't quit jobs/studies initially.
• Focus on learning the skill, not on making money.
• Beginners should act as trainees.

2. Open a Demat Account

• Types of Brokers: Discount and full-service brokers.
• Suggested Brokers: Zerodha and Upstox for lower charges.
• Interface walkthrough: Zerodha.
  • Features: Watchlist, buy/sell, order book, position book.
• Recommendation: Open account via provided link and email ID for future services.
• Video available on how to use Zerodha.

3. Creating a Watchlist

• Decide what to trade by creating a watchlist.
• Suggested Stocks: Nifty, Bank Nifty, Axis Bank, Bajaj Finance, BPCL, etc.
• Create watchlist on tradingview.com.

4. Paper Trading

• Test strategies without real money.
• Importance of forward-testing.
• Timeframe: 1-3 months of paper trading.
• Limitation: Paper trading does not train psychology.
• Video available on paper trading.

5. Funding the Account

• Initial funding: Rs 10000- Rs 25000 for intraday; Rs 1.5 lakh- Rs 5 lakh for swing trading.
• Intraday vs Swing Trading:
  • Intraday: Buy and sell within the same day.
  • Swing: Hold positions for multiple days/weeks.
• Strategy video: VWAP strategy with 2M views.

6. Risk Management

• Use of Stoploss: Automatic order to limit losses.
• Risk Per-trade: Define acceptable loss percentage.
• Guideline: Keep loss between 2%-5% of account balance.

7. Psychology

• Develop winning psychology;
• Accept that losses are part of the process.
• Avoid "all trades must be winners" mindset.
• Treat trading losses as business expenses.

Bonus: Futures and Options Trading

• Options trading requires expert-level experience.
• Retail traders tempted by low cost but risky.
• Options trading only recommended after years of market experience.
• Information on these available in the channel; future content planned.

Call to Action

• Share this video with friends and family.
• Comment feedback for improvements.
• Subscribe to the channel for more trading, crypto, forex content.
• Goal: 1M subscribers within 6 months.
• Continuous new content and strategies promised.

Thank you for watching and stay tuned for more videos!