1. Paper trade successfully for a period of time (at least a few months) before diving in. Start by keeping your trades small because your focus is to get it right rather than make it big. By starting small, your stress levels are reduced and you can make better decisions. Be prepared to stop live trading for a while if your small live trades go bad and after closing your open positions, you need time to research and look through your trade diary/notes or make new notes to find out where you went wrong. The key is to observe, be patient, dedicate yourself and persevere for a period of time so no shortcuts to trading success unless you are one of the few trading geniuses out there.

2. Seed money would depend on type of trading instruments you trade, equities can be costly so your seed money has to …