5 answers
Jayden
Student
Wichita Falls, Texas
1
Question
Updated
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What do I need to do/learn to get into the stock market trading business and how do I get into the stock market trading business?
What do I need to do/learn to get into the stock market trading business and how do I get into the stock market trading business.
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5 answers
Michelle Fenske
Divisional Sales Manager
6
Answers
Los Angeles, California
Updated
Michelle’s Answer
I think the answer depends on what you mean by the "stock market trading business." I currently work at UBS and have formerly worked at both Morgan Stanley and Merrill Lynch - all large firms that are involved in trading stocks. Unless you're looking to become a trader working on the stock exchange floor, Financial Advisors who work with clients and assist with stock trading, typically do much more than that for their clients. I would encourage you to look into Wealth Management careers to understand the many different kinds of opportunities and roles involved in what some may think of as "stock market trading businesses."
Starting in an entry level role is the best way to learn about the business. Consider learning about Financial Planning and looking for training roles with a major financial services firm in the planning space, or perhaps consider an internship or administrative support role to begin. Once you're in, it's easier to move between roles.
Getting your securities licenses would be a next step. You could consider getting the SIE exam under your belt on your own as it no longer requires a firm to sponsor you for that exam. It is the precursor to the Series 7 (S7), which is required to trade securities for clients. Having the SIE shows hiring managers that you are serious about the industry and that you are motivated and capable. Once you begin working for a Financial Services Firm, they will sponsor you to take the S7 and S66 - these allow you to engage in trading activities.
If your ultimate goal is to become a Financial Advisor, learning about the Wealth Management industry, financial planning, and even behavioral psychology / finance will be very helpful for you. In addition, the main job of a Financial Advisor is to find new clients and have them bring and invest their money with the Advisor's Firm. So really the ability to build relationships and foster trust with clients is a key skill that will set you up for success.
I hope this is helpful and I wish you good luck! Financial Services is a great career path!
Starting in an entry level role is the best way to learn about the business. Consider learning about Financial Planning and looking for training roles with a major financial services firm in the planning space, or perhaps consider an internship or administrative support role to begin. Once you're in, it's easier to move between roles.
Getting your securities licenses would be a next step. You could consider getting the SIE exam under your belt on your own as it no longer requires a firm to sponsor you for that exam. It is the precursor to the Series 7 (S7), which is required to trade securities for clients. Having the SIE shows hiring managers that you are serious about the industry and that you are motivated and capable. Once you begin working for a Financial Services Firm, they will sponsor you to take the S7 and S66 - these allow you to engage in trading activities.
If your ultimate goal is to become a Financial Advisor, learning about the Wealth Management industry, financial planning, and even behavioral psychology / finance will be very helpful for you. In addition, the main job of a Financial Advisor is to find new clients and have them bring and invest their money with the Advisor's Firm. So really the ability to build relationships and foster trust with clients is a key skill that will set you up for success.
I hope this is helpful and I wish you good luck! Financial Services is a great career path!
Alireza Poostindooz
financial consultant
41
Answers
Isfahan, Isfahan Province, Iran
Updated
Alireza’s Answer
To get into the stock market trading business, you will need to have a good understanding of the stock market, financial analysis, and trading strategies. Here are some steps you can take to get started:
1. Educate yourself: Start by learning the basics of the stock market, including how it works, the different types of securities, and how to read financial statements. You can take online courses, read books, or attend seminars to gain knowledge.
2. Practice with a demo account: Many online brokers offer demo accounts that allow you to practice trading with virtual money. This can help you gain experience and test out different strategies without risking real money.
3. Choose a broker: Once you're ready to start trading with real money, you'll need to choose a broker. Look for a reputable broker with low fees and a user-friendly trading platform.
4. Develop a trading plan: Before you start trading, it's important to have a plan in place. This should include your investment goals, risk tolerance, and trading strategy.
5. Start trading: Once you have a plan in place and have chosen a broker, you can start trading. Remember to start small and gradually increase your investments as you gain experience.
It's important to note that trading in the stock market can be risky and you should never invest more than you can afford to lose. It's also a good idea to consult with a financial advisor before making any investment decisions. Good luck! 🤞📈
1. Educate yourself: Start by learning the basics of the stock market, including how it works, the different types of securities, and how to read financial statements. You can take online courses, read books, or attend seminars to gain knowledge.
2. Practice with a demo account: Many online brokers offer demo accounts that allow you to practice trading with virtual money. This can help you gain experience and test out different strategies without risking real money.
3. Choose a broker: Once you're ready to start trading with real money, you'll need to choose a broker. Look for a reputable broker with low fees and a user-friendly trading platform.
4. Develop a trading plan: Before you start trading, it's important to have a plan in place. This should include your investment goals, risk tolerance, and trading strategy.
5. Start trading: Once you have a plan in place and have chosen a broker, you can start trading. Remember to start small and gradually increase your investments as you gain experience.
It's important to note that trading in the stock market can be risky and you should never invest more than you can afford to lose. It's also a good idea to consult with a financial advisor before making any investment decisions. Good luck! 🤞📈
Amit Mittal
Officer at Citibank
96
Answers
Pune, Maharashtra, India
Updated
Amit’s Answer
Dear Jayden,
Embarking on a journey into the realm of stock market trading requires a blend of educational knowledge, hands-on experience, and a solid grasp of financial markets. Here's a simple guide to help you kickstart your journey:
Education: Initiate your journey by grasping the fundamentals of investment and comprehending the mechanics of financial markets. You can leverage online resources, books, or even sign up for relevant courses.
Establish a Trading Account: Pick a broker that aligns with your requirements and set up a trading account.
Set a Budget: Decide the amount of money you're comfortable investing. It's crucial not to invest funds that you may require in the near future.
Learn from the Pros: Aim to gain knowledge from seasoned traders or mentors. This can assist you in making well-informed decisions and minimizing risk.
Execute Your First Trade: After setting up your account and gaining a rudimentary understanding of trading operations, you're ready to execute your first trade.
Bear in mind, stock market trading carries inherent risks, and it's vital to make decisions based on sound knowledge. It's equally important to constantly learn and stay abreast of market trends.
In terms of learning resources, there's a plethora available online. Websites like Varsity by Zerodha offer comprehensive, free lessons on the stock market and financial topics. News outlets such as CNBC, MarketWatch, the Wall Street Journal, and Bloomberg can provide valuable insights into economic trends and analysis. Numerous books and online courses are also available to help you get a handle on stock trading.
Remember, achieving success in stock market trading demands patience, discipline, and a commitment to ongoing education. Best of luck on your journey! 😊
Embarking on a journey into the realm of stock market trading requires a blend of educational knowledge, hands-on experience, and a solid grasp of financial markets. Here's a simple guide to help you kickstart your journey:
Education: Initiate your journey by grasping the fundamentals of investment and comprehending the mechanics of financial markets. You can leverage online resources, books, or even sign up for relevant courses.
Establish a Trading Account: Pick a broker that aligns with your requirements and set up a trading account.
Set a Budget: Decide the amount of money you're comfortable investing. It's crucial not to invest funds that you may require in the near future.
Learn from the Pros: Aim to gain knowledge from seasoned traders or mentors. This can assist you in making well-informed decisions and minimizing risk.
Execute Your First Trade: After setting up your account and gaining a rudimentary understanding of trading operations, you're ready to execute your first trade.
Bear in mind, stock market trading carries inherent risks, and it's vital to make decisions based on sound knowledge. It's equally important to constantly learn and stay abreast of market trends.
In terms of learning resources, there's a plethora available online. Websites like Varsity by Zerodha offer comprehensive, free lessons on the stock market and financial topics. News outlets such as CNBC, MarketWatch, the Wall Street Journal, and Bloomberg can provide valuable insights into economic trends and analysis. Numerous books and online courses are also available to help you get a handle on stock trading.
Remember, achieving success in stock market trading demands patience, discipline, and a commitment to ongoing education. Best of luck on your journey! 😊
Howard Li
Sustainability Consultant
6
Answers
New York, New York
Updated
Howard’s Answer
First off - stock trading can be a tough journey and there is a fair amount of risk involved.
I would recommend you start by paper trading to learn the ropes without risking any real money.
There are generally two approaches to analyzing trades: technical analysis and fundamental analysis.
Some great reads to get started:
- The Intelligent Investor by Ben Graham
- One Up On Wall Street by Peter Lynch
- Security Analysis by Benjamin Graham and David Dodd
I would recommend you start by paper trading to learn the ropes without risking any real money.
There are generally two approaches to analyzing trades: technical analysis and fundamental analysis.
Some great reads to get started:
- The Intelligent Investor by Ben Graham
- One Up On Wall Street by Peter Lynch
- Security Analysis by Benjamin Graham and David Dodd
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
350
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
Search for and read articles about Warren Buffett and what he is doing this week or this quarter, just whatever news you can find about him. Over time you'll learn what he has to say about things, and as he is a great investor, and one of the great secrets is to "ride the coattails" for at least a few years before you try figuring out your own things, you will learn what kinds of things the great investor Warren knows and is seeing, and you can also see how much you can copy him, and you'll start to see what results you get when you do.