There are various ways to initiate your Do it Yourself Investment journey (specifically Equity investment).
Foremost being self aware that equity investment in itself carries Risk as compared to other safe investment options being available (Post office, Bank Fixed deposits etc), but over a longer time horizon (5Y and above) the rewards are good – Generally the returns expected are (Country GDP+Inflation+Alpha).
Starting point could be – read a lot, make notes and evaluate what kind of investor you are.
Reason being: in case you blindly follow and get impressed by various twitter threads on a particular company – the creator of the post might be correct from his/her point of view but he/she is not aware of my situation (elaborated below).
To make the point clear – when you teach a particular subject to Class 6 students the content and references are different as to when you teach the same subject to Class 10.
As an investor one needs to note down his income, expenditure and savings, accordingly a portion of savings can go for equity investment – for first 5 years it can be done via DIRECT Systematic Investment Planning (SIP) through Mutual Fund House/Index ETF investment, to keep the cost low.
Keep it simple.
Over a period of say 3 to 5 years you gain knowledge and the regular SIP creates a reasonable corpus. Thereafter you can take a call to open Trading (Dmat) account and go for direct equity investment.
During this journey many key words which have lots of significance need to be experienced, personally. Like Conviction vs borrowed conviction, Portfolio Allocation, Sectoral Diversification, Cyclicals etc etc. Frequent buy and sell in initial days can cause cost in terms of brokerage charges and Profit/Loss computation for Income Tax purposes.
Some of the Actions to be avoid – F&O, taking loan to invest, investing in Penny stocks, investing purely based on story – Youtube/Twitter based recommendation etc. Some expert might be successful in this domain but we may not be aware of the background story about their earlier failures.
Have a positive mindset, it being money market instrument, money is required to earn money.
Have patience, take care of excessive fear and greed. Just like every drug in a chemist shop is meant to cure some ailment but a person cannot popup pills on random basis, a visit to a qualified Doctor and due diagnosis plus the prescription is needed. Similarly, this path is Simple But not Easy.
I am my own friend and foe, based on my temperament. Emotional Behaviour matters a lot.
These are some random thoughts to get you initiated, please do your own study and all the best.
Edit1: Typographical errors corrected/removed