January 24th, 2013
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Become a Trader
Those who wish to become a trader and work in the stock market industry may work in positions such as sales agents or work on the trading floor. These individuals work to connect buyers and sellers within the financial markets, affording the stock market moves to happen. They often work with both individuals and businesses. Some work with investors while others simply conduct the trades occurring on the stock market floor within the most lucrative environments in the world.
About Being a Trader and the Prospects
For those who wish to work as a trader, there are plenty of opportunities to do so. These individuals work in high-stress environments and many will work far more than the average 40 hours per week as a result. They will work to advise companies and individuals about the financial decisions they can make to earn a profit. Many times, these individuals also work within investment firms making trades for the company’s investors. In other cases, they work for themselves, buying and selling commodities to increase the return on investment they put into the markets.
Is there a market for traders? According to the US Bureau of Labor Statistics, this field will grow over the next ten years at about the same pace as average job growth. That is at about 15 percent. This will add about 47,500 jobs to the country from the period of 2010 through 2020. In other words, it is likely that you will find a job in this field if you would like to do so.
What Training Do You Need to Become a Trader
If you wish to become a trader, you will first need to obtain the appropriate knowledge and training through formal education. Most of the time, a bachelor’s degree in the field is necessary for entry level positions. Here, individuals make fewer decisions and give less advice about trading and rather just facilitate the trading process. Those who wish to provide advice, on the other hand, often must work to obtain a masters degree first. A concentration in finance or business accounting with a finance specialization is often necessary to work in this field.
What Jobs Are There In the Trader Field
There are various types of trader positions. One of the most common positions is to work as a broker. Here, you will sell commodities and securities to clients. You will provide advice to these investors about what their best investments will be to achieve the desired outcome they have. Brokers often have to seek out their own clients, making this job difficult to do.
Other positions under traders include investment bankers, which provide businesses with funding and make profits on investments. Floor brokers are those who work in a large room where the trading is done. They place an order for a security, negotiate the price and then make the sale. They often work in the highest stress level portion of the job. For those who want to work as a trader, the type of job you do will determine your earning potential and your education requirements.