To be brief:
Follow the stock market news and analysis—>Open an account→Transfer fund to the trading account/s→select a few stocks and follow them closely→place your order when you are convinced with your research→sell/buy/hold as per your research.
NB: Have a good control over your emotions. Listen to your brain that can research and not your heart while trading.
To Elaborate:
First of all, you try to collect knowledge in the subject as much as possible from various sources.
- Websites like moneycontrol, Investopedia, youtube will help you get lot of info about the trading and investing in the market.
- Book like “Rich Dad Poor Dad” by Robert T Kiyosaki may help you shape your mindset towards investing.
- You can meet some people who are traders and investors who can tell you the live stories of their success and failure in the act.
Then you will learn that you have to open a demat account with a broking firm to enter the stock market.
Broking companies are called Depository Participants (DP). DPs are registered with CDSL/NSDL (only two depositories under SEBI) and Stock Exchange viz. BSE, NSE, MCX, etc. So, once you buy stocks and the transaction is reflected in your Demat, it is held by the CDSL/NSDL where your broking firm is registered with.
If you search for a good broking company in the market, you will get many names like Sharekhan, ICICI, Angel Broking, Kotak, Karvy, SMC, Zerodha, Fyers, Motilal Oswal and many more. As a beginner you will need knowledge, good platform for placing your orders with ease, low brokerage, smooth fund transfer, various reports, good customer service, etc.
For all these you may opt for Zerodha. They provide you Demat & Equity trading account@Rs 300/- and Commodity account@Rs 200/-. Their brokerage is very low: 0.01% or Rs 20/- (lower one) per executed order (irrespective of amount) for Intrday trades across NSE, BSE, MCX and Zero brokerage for Delivery. You can buy Mutual Fund also commission free directly from fund houses and keep a track on all your investments in Equity, MF, currency, etc on your Demat.
To open a Demat account one needs PAN, Aadhar, Bank Proof (signed photocopy of cancelled cheque or first page with IFS code and MICR code printed on, photograph, income proof, if any)
Click for instant account in Zerodha.
Once your account is ready verify all the details you provided are correct on the document sent to you by the broker.
Then take demos for better understanding of the terminal or trading platform.
Then transfer fund to the trading accounts from your registered Bank account through IMPS/NEFT/RTGS.
Now pick some stocks from the list and add to your watchlist and follow their ups and downs and try to understand the movements and reasons behind it. Take help of charts and tools. Place your order when you are convinced. Don’t invest if you wish to make quick money because that may leave you lost all money. Here patience is very important.
It is a fact that others can just guide and advise you but learning is upto you and your efforts.
Best of luck.