When the COVID-19 pandemic hit us all in 2020, two things were common in almost every household: boredom and financial constraints.
Many people found themselves working from home, and many even lost their jobs because of massive layoffs.
Several people were bored and had a lot of extra time on their hands.
Many Indians decided to utilise this time and make extra money by entering the stock market and starting day trading from the comfort of their homes.
In fact, in the financial year 2020-22, around 142 lakh Indians entered the stock market, and this number is growing every day.
Reasons behind the entry into the stock market
So far, India’s stock market penetration has been pretty low. Only 3.7% of Indians invest in the stock market.
In comparison, 55% of US citizens invest in equities or shares in some form or the other.
The reason behind this massive divide is many Indians are not financially literate.
Also, up until a few years ago, entering the stock market and trading in equities was a long and complicated process.
But, thanks to cheap internet and a smartphone in every home, stock trading has now become much easier and simpler.
The introduction of several new trading apps and websites has motivated more people to buy and sell stocks with just a click.
Additionally, social media platforms like YouTube and Twitter have also helped people get a better understanding of how the stock market works.
This has helped launch an alternate career as a day trader for many Indians.
Even many homemakers took up part-time trading during the pandemic, which has helped them become financially independent.
What does a day trader do?
Day trading involves buying and selling several stocks and futures contracts on the same day for profit.
The goal is to make profits on each purchase and each sale.
Now, this sounds very simple, but it does require a basic understanding of the financial world and the stock market.
Many Indians have been able to grasp the nitty-gritty of this job very quickly and have become successful day traders.
On average, an Indian day trader earns around Rs. 50,000 per month. But for many successful traders, this amount is much higher.
How can you become a day trader?
Becoming a day trader today is very simple.
To start your trading journey, the first thing you need is a Demat account.
You can now do this from the comfort of your home with the help of websites like Rupeezy.
Astha Trade not only allows you to open a Demat account for free, but the process is also completely paperless.
After opening your Demat account, you are ready to start trading. You can do so with an initial investment of as little as Rs. 10.
However, before putting your money at stake, it is crucial to do your research and understand what is going on in the market at the moment.
This is because stock investments are often risky, and you could end up losing your money if you are not careful.
Conclusion
Day trading has emerged as a great alternative career during the pandemic. It has helped many people boost their savings and run their houses even in times of financial difficulties.
This is why many pandemic day traders are still trading stocks part-time, even though things are back to normal now.
You could also begin your trading journey today by visiting Rupeezy website.