Online trading is basically the act of purchasing and selling financial products through an online trading platform.
In the past, investors had to call their broker to make a trade for them. They must either visit or call their broker over the telephone. In fact, there was no other option. In the 1970s, for instance, if I wanted to buy 100 IBM shares, I would call my broker to arrange a deal of trade. I would then place an order request to the company. That’s how the system was.
The broker would inquire and let me know what the IBM share market price was, and confirm the order to buy. In the past, the whole procedure was relatively very lengthy and tiring. The broker would inform how long to keep the order open, which account to draw money from, etc.
Today, with the advent of online trading, it is a do-it-yourself world. In other words, online traders can purchase and sell financial securities on their own. In fact, they can even carry out multiple trade deals without anybody else’s help. Most importantly, the modern online trader can also do all these things at a rapid pace.
Porinju Veliyath was born in the year 1962 in a lower middle-class family in Kochi. His early life was full of struggles and difficulties. He applied and joined various jobs along with studies to support his family financially. He went to Mumbai in 1990 searching for a job and was selected and appointed as a floor trader at Kotak Securities.
Stock Market was a totally new and unknown field for him. Within a short span of time, he mastered the in and out of stock market and became an expert trader. He worked for 4 years there and gained a lot of knowledge on stock market. In 1994, he joined Parag Parikh Securities for the designation of a Research Analyst and fund manager.
In 1999, he returned to Kochi and decided to generate funds on his own from the stock market. He invested his first major capital in ‘Geojit Financial Services’. The stock was trading at a very low rate at that point of time. Proving every investor wrong, this investment gave him huge returns. In 2002, he started his own portfolio management service (PMS) organisation in the name of ‘Equity Intelligence’.
To sum up, today, he is one of the most popular investor and fund-manager of recent times. His story inspires many investors to invest in the Indian stock market till date. That’s how people improve once they get the hang of Online Trading.