Few years ago, 15 year old Prateek Singh arrived from Malaysia to finally settle down in India. His father had opened a brokerage account for stock trading and Prateek was asked to find out about stocks and how we could make something of it.
“I struggled; my only teachers were my mistakes, my successes and persistence,” says Prateek, who now runs MarketScientist, a startup that helps people learn stock trading.
He soon realised that that stocks and trading would become an important part of his career but back then, you could not learn to trade or even consider it a viable career option because there weren’t many stock trading classes or professional help available. “There was no one to guide me at the time,” he says.
Stocks, according to Prateek, are a reflection of the greed and fear of people. “You can find points of greed and points of fear. I buy at points of greed and markets rise. You don’t need to predict the market, you need to follow a quantitative method,” he said.
One day while browsing the Internet he came across a web service called Duolingo which teaches users a new language in a game like interface. Then he discovered Code Academy that teaches users to do basic computer coding. “Besides learning a new language and coding from these websites, I was also inspired by the fact that these were ‘Free’ services and were teaching people something useful in a very exciting way.”
By now, Prateek had been trading on the stock market for nearly 9 years. “But it was only after coming across these websites that the idea struck – why not teach the fundamentals of trading, investing to others for free in an interactive way?”
Initially he faced several hurdles on the technology and innovation front for starting the portal. Finally after intense learning sessions on Code Academy and many a sleepless days and night later MarketScientist started taking shape.
The portal, started in April this year, provides users with a ‘Learn and Earn’ service. They can learn how to trade in the stock market using the methodology developed by the company. After the course, the portal trades with their users in LIVE market conditions so as to give them a feel of the methodology, action and trade profit.
The service is mainly aimed towards users with day jobs as well as college students, and they can learn and trade the Stock market; this includes cash, futures, currency and commodities. Prateek says “it is helpful to users looking become short term traders as well as long term investors.”
Users are charged Rs 7,500 per month for the learn and earn service. There is also an introductory 3 day webinar course, for Rs 2,000 available. The service currently has more than 450 registered users.
Apart from the courses the portal offers free videos on how to trade the markets, through MarketScientist TV. The videos are uploaded regularly and currently there are 10 episodes and more will be added in due course.
The portal also posts articles related to finance and how to invest in the market for users to access for free.
There other similar services in the space like Dalal Street Academy, Online Trading Academy Mumbai, Share Gurukul and others, who offer training in various aspects of trading through online and offline courses.
If you are new to trading, give the service a try and let us know what you think.