I got my demat account opened last year but never got the time to use it. I can also say that I was not interested in the stock market but got the account ready just in case I want to explore it anytime and there is no hold if the account is already active. There are many platforms offering trading on the stock market and they are completely digital which means we are not required to follow physical forms and visit their office instead all these can be done online which is a convenient process. I wanted to explore the stock market last year but I could not do however now in 2024 I have started my investing journey in company stocks.
These days I am also exploring more about mutual funds and I think it can be a great option to invest in the long term to gain the benefit of compounding. Although I have started my investment in one of the leading banks in India it is called HDFC Bank. I have been tracking this talk for a week and I dont know how it is going to perform because my investment is for the long term. As you can see on this window there are three options including delivery intraday and MTF. Delivery is basically when we invest for more than one day and intraday is for the same day trading when we need to close the trade on the same day. The other one is the margin trading and I just stay away from this form of trading because it's not my cup of tea.
Like I said I am more interested in delivery because my investment is for the long term and I think this bank is growing so for the long term it can be a good choice to invest for me. Again I would mention that it's not guaranteed because things can go the other way round as well. Though I haven't started investing in stocks my preference will be more on mutual funds and these days I am trying to study some of the funds that have done pretty well in the last few years in the market. There is a lot for me to learn in the mutual fund segment and I'm not in a hurry to do this. I simply believe that if I am planning to invest in something for the long term then I should also give it some time to have a thorough understanding before investing.
I also follow a strategy that before investing I try to do all the homework possible for me and once I start then it's all done and I do not spend time on this anymore. Certainly, I will go for the option to invest through SIP which is known as a systematic investment plan and I believe it is one of the best ways to invest in a mutual fund. It is the same as DCA in Crypto which is known as dollar cost averaging and we know that it is one of the best ways to invest in crypto points. I am in Crypto and most of my investments are in Crypto only but following a diversification on the investment portfolio I am just trying to go for stocks and mutual funds. Ideally, I should have done it before but its fine because I can't change the past now however its better to change things now and the same I am trying to do.
As of now, I started my stock investment journey with HDFC Bank and purchased 1 stock only. I will see if I can invest more in this or maybe I can explore other companies to invest something but slowly I will try to grow my portfolio and this is what I am planning to do this year and also in the next year depending upon my overall investing strategy. I hope I can build a good portfolio in the stock market as well through investing in stocks as well as mutual funds in the next few years. I believe that investing is a journey that is like a marathon and not something that can be done in a few weeks or months hence I am going to follow my long-term investing strategy in the stock market as well.
Thank you
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