Prateek Singh is the Founder and CEO of Noida-based LearnApp. He started his journey as a trader over a decade ago after dropping out of college suddenly, which eventually worked as a turning point in his career.
Today, LearnApp is a leading online learning platform that allows one to learn directly from industry stalwarts. The firm has made several experiments with various formats before founding their niche in August 2018 with Prateek along with Ankush Oberoi, Swati Sharma, and Sohail Alam.
Prateek’s turning point at 17, and LearnApp!
Prateek Singh was born in Abu Dhabi, and spent his childhood as a global citizen in places like Africa, Singapore, and Malaysia before moving to India. He had to drop out a year of his college around 2006-2007, at the age of 17 when his parents relocated from Malaysia to India. Since it was the middle of the semester, he didn’t get admission in any school.
During this time, Prateek’s father casually suggested him to make good use of the time by trading. He suggested to open an ICICI brokerage account. And it was the turning point in Prateek’s life, and the beginning of his entrepreneurial journey.
Prateek’s first trade was milk food, where he made a 20 paisa profit by trading intraday on their web platform. It made him happy as there were 10 shares with 30 paisa times 10 was a few rupees! That’s how his trading journey began.
At 29 today, Prateek is a dedicated algo trader, and uses statistics to make profitable trading decisions. LearnApp is an edtech startup with a subscription-based platform. It offers courses on investing, trading, and finance via recorded and live video sessions from industry leaders. The startup has successfully trained more than two lakh people to grow money from money!
Prateek’s mantra for trading
Prateek believes that the basics of trading is a must for every beginner to learn. He believes that cherry-picking a stock is a loser’s game. If you want to be successful in trading, you have to focus on a winning system and certain successful strategies of trading.
For trading successfully, the trader must learn the trading mindset, trading terminal, then proceeding to future and options of trading, before finally learning about brokers’ back-office. It is important to learn the basics of trading before starting off.
The trading system is a set of rules that help you to select the stock, get an entry price, decide where to get out if it’s a loss, decide where to get out if it is a profit, and also learn about the position size. That means it is important to learn how many shares to trade on a particular trade. When you take a loss, it should be a small amount, and the profit should be made on a larger one – this is the mantra Prateek follows and trains the beginner to follow.
Prateek – On buying Crypto
Prateek Singh suggests that if you are interested to invest in Cryptocurrency, there are certain things you must know. He advises to start off with using a hardware wallet as hacking is a common thing, and hardware wallet can prevent the risk of hacking.
Prateek alerts to trade with the amount of money that you can afford to lose, just in case. He also says that understanding the technology behind the coin is extremely important. And beginners are suggested to not take leverage, but only spot markets.
Prateek Singh at Bull Run Summit
Prateek Singh joins us at Bull Run Summit as a speaker from 23rd to 25th July 2021. Trading today is automated, which helps in execution. However, for beginners in trading, there can be multiple things that are overwhelming and unknown, resulting in loss.
Prateek, at Bull Run Summit, talks about everything that would help a beginner with practical idea of trading. He talks about the entire ecosystem of trading – how the stock exchange works, how the depositories work, how the stock market works, how broking works, and several other relevant terminologies and their respective jobs. He also talks about LearnApp and how someone can be benefitted from the platform.
Hear Prateek live at BULL RUN SUMMIT. Book your slot by registering at https://www.bullrunsummit.com/.
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