2. Do not fall prey to advertisements promising astronomical returns and if feasible do undertake your own research. Do undertake the analysis of this fact that how safe it is to start trading with a particular firm.
2. Follow a tips providing site which has a previous track record and one can check their previous results online irrespective of the date. Before following any body advice do make sure that the tips providing site has not been paid to make such recommendations. Do consider the fact that what could be the motive of the tips providing site and if they are going to make any money by providing the tip or are they making the tips at the behest of any individual like Mr E Mathews, a technical analyst was charged a few years back that he was making recommendations to the readers to buy and was himself offloading the same stocks at higher prices which is nothing less than breach of trust.
3. Close the trade at the end of day while undertaking the day trading and do not carry the trade home to minimise the overnight risk.
4. One can become a billionaire from stock market if one trades with correct stock guru, trade with a plan and avoids trading on borrowed money and if trading on borrowed money than understands the risk of margin trading.
