Mukesh Nair, a flight crew member, was "grounded" after the pandemic struck. "As the airline industry nosedived due to COVID-19, I returned home and things turned a bit difficult. But I suddenly had a lot of time on my hands," says the Thiruvananthapuram native. He decided to cut his teeth on stock trading, something that seemed "alien" before, and says the online platform Cosmic Wealth came in handy. "The new interest has helped me eke out some supplementary income in these tough times," he adds.
Cosmic Wealth, founded by two engineers, Ridhwik Vinod and Goutham Bhaskar A, provides "community-based" training for aspiring stock traders and help demystify the nuts and bolts of the world of stock markets. Since its inception two years ago, it has brought together over 900 members in their community who have received training in stock trading.
Self-taught stock traders, Ridhwik and Goutham say they launched the start-up after they found the going profitable for themselves and wanted to help others learn the nitty-gritty of online trading, something typically deemed only for specialists. "I started my journey in stock trading when I was 17, with the help of my dad's account, who is an investor. He used to follow news on stock trading constantly. I came across stories about people making and losing money and wanted to find out why they were losing, whether this was to do only with the stock market or with the approach of the investors," says Ridhwik. He says he learnt the tricks of the trade on the Internet and through YouTube tutorials before giving it a go using a little pocket money.
Goutham says during college days, the duo took offline classes on stock trading for other students and those interested in learning about it before launching Cosmic Wealth. "One does not need a background in commerce or economics to become a successful stock trader. What's more important is having a good idea about the workings of the stock market, discipline and diligence," points out Goutham.
Anyone above 18 and with a Demat Account can try their hand at stock trading. Classes are held online via video-conferencing services and materials are shared using the online platform Teachable. Apart from Ridhwik and Goutham, two academic trainers also lead the sessions. "It is a misconception that you need a large capital to start investing in the market. In fact, you can start with as low as ₹100," says Ridhwik.
Classes are offered in two modules or “membership” — Gold, a three-week programme that covers only the equity market that allows for trade any time between 9.15 am to 3.30 pm on weekdays, and Prime, a six-week module that, apart from equity market, covers derivative and commodity markets, and forex market, which is open from 9 am to 11.25 pm IST, allowing more flexibility. Fee is ₹6,200 for Gold membership and ₹9,299 for Prime.
For details, check cosmicwealth.org