Career Advice

[waj]

This is my first time posting a message! So Hi,

I’m looking for general advice in how to get my foot in to trading/stock broking, what am I meant to do and how?

My back ground in work experience has been in sales and I have a degree in Business Management.

I have applied for a number of opportunities but am getting nowhere!

What am I doing wrong? Or is it due to the fact I have no relevant experience or qualifications?

What positions should I be applying for?

Can some one advice me on what to do! Any advice will be appreciated as this is truly what I want to do!

 

[shadowninja]

What sort of opps?

 

[Aspire]

This is my first time posting a message! So Hi,

I’m looking for general advice in how to get my foot in to trading/stock broking, what am I meant to do and how?

Any advice will be appreciated as this is truly what I want to do!

Trading and stock broking are very very different so telling people that trading/ stock broking is what you truly want to do will be a bit of a negative right from the start. It is kind of like saying playing football/ running a sports shop is what I truly want to do for a living.

The first thing you need to do is to decide what it is that you really want to do and go from there. I know I'm being cynical, but most people that say things like I want to be a trader/ stockbroker actually mean I've seen traders and stockbrokers earning a shed load of money and I want a peice of that. That's a pretty bad start if you want to trade but might be better for a broker.

With a sales background you may well be better suited to broking and would probably find it easier to get into. I I'm a trader and don't know much about the world of broking so can't really help here but you probably haven't picked the best time for it.

As for trading, I would reccomend you read as much as you can and learn to trade for yourself like all the people on this forum do. Trade your own account, keep it small so you don't lose too much and learn, learn, learn. Then when you know more about trading, the markets, and yourself with regards to trading start applying to the better prop firms.

 

[waj]

Thanks for you advice it is much appreciated! I may not have come across to enthusiastic in my message earlier! I'm just finding it difficult to find an opportunity! Some time it’s Demoralising, when you think you have no hope!!
All is taken on board!

You mentioned to trade for my self! Where do I begin?

I think what I’m asking for is guidance?!

 

[Aspire]

You mentioned to trade for my self! Where do I begin?
QUOTE]

A very big question indeed!!

Actually, you will find it's been answered on here many times and very well but I'll give you what I think's a good shove in the right direction.

Where are you starting from? Are you already familiar with the different markets and products that can be traded? If you are, great. If not this has to be step one. Look the ones you've herad of up on Wikipedia, read and learn. As you learn more, look up more and learn more. Once you know what you can trade then you can learn to actually trade.

Open up a Demo account somewhere and have a good play around. get familiar with putting on trades, using the software, what a few markets are like and generally have some fun. But please, please, please remember that by chance alone you may well end up making a lot of pretend money. This does not mean you are ready to trade real money yet. However tempted you may be keep your money safe for a good while yet.

Now start reading and learning. Read the following books as a minimum.

Technical analysis of the financial Markets - John Murphy
Trading in the zone/ The disciplined trades - Mark Douglas
The Trading Athlete - Can't remember off hand
Candlestick Course - Steve Nison
Market Wizards 1 & 2 - Jack D. Schwager
Day Traders Bible - Richard D Wyckoff http://strudy.files.wordpress.com/2...ble-or-my-secret-in-day-trading-of-stocks.pdf

And make good use of the search button on this forum and the knowledge labs.

Then start trying out what you've picked up. Put on loads of trades and try loads of stuff out. Don't worry about your P/l just watch the markets day in day out and learn, learn, learn.

Most of what you read is actually bull****. You still need to read it to understand this for yourself but the way to learn to make money is to watch, watch, watch the markets for a very long time and think as much as you can about what you're seeing.

This should be enough to get you going, but remember it's a hell of a lot of hard work and it will put you through the wringer many times before you get anywhere. You will need to be driven by a passion for it to have any chance. If you're doing this for the love of the markets and the challenge then you may get rich. If you're doing it to get rich then you won't.

Best of luck!!

 

[waj]

What sort of opps?

Hello!

I have been applying for many junior/ entry level roles in finance so I can work my way up and gain knowledge of the financial market! but am getting no were! thanks for the links.

 

[waj]

You mentioned to trade for my self! Where do I begin?
QUOTE]

A very big question indeed!!

Actually, you will find it's been answered on here many times and very well but I'll give you what I think's a good shove in the right direction.

Where are you starting from? Are you already familiar with the different markets and products that can be traded? If you are, great. If not this has to be step one. Look the ones you've herad of up on Wikipedia, read and learn. As you learn more, look up more and learn more. Once you know what you can trade then you can learn to actually trade.

Open up a Demo account somewhere and have a good play around. get familiar with putting on trades, using the software, what a few markets are like and generally have some fun. But please, please, please remember that by chance alone you may well end up making a lot of pretend money. This does not mean you are ready to trade real money yet. However tempted you may be keep your money safe for a good while yet.

Now start reading and learning. Read the following books as a minimum.

Technical analysis of the financial Markets - John Murphy
Trading in the zone/ The disciplined trades - Mark Douglas
The Trading Athlete - Can't remember off hand
Candlestick Course - Steve Nison
Market Wizards 1 & 2 - Jack D. Schwager
Day Traders Bible - Richard D Wyckoff http://strudy.files.wordpress.com/2...ble-or-my-secret-in-day-trading-of-stocks.pdf

And make good use of the search button on this forum and the knowledge labs.

Then start trying out what you've picked up. Put on loads of trades and try loads of stuff out. Don't worry about your P/l just watch the markets day in day out and learn, learn, learn.

Most of what you read is actually bull****. You still need to read it to understand this for yourself but the way to learn to make money is to watch, watch, watch the markets for a very long time and think as much as you can about what you're seeing.

This should be enough to get you going, but remember it's a hell of a lot of hard work and it will put you through the wringer many times before you get anywhere. You will need to be driven by a passion for it to have any chance. If you're doing this for the love of the markets and the challenge then you may get rich. If you're doing it to get rich then you won't.

Best of luck!!

Thank you so much for your advice and the book titles. I will need to do more reading!!

This has helped me