Trading/Stockbroking Job

Mitch2009

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Been reading the forum here for a few days so thought I'd post my conundrum here and see if anyone has any good advice or suggestions for me...

Basically I'm looking to move into trading or broking and I'm not sure which is the best way of going forward.

My background is that I graduated from the University of Manchester with a 2:1 in a management related degree - it covered finance and economics but not to the extend recognised in a proper economics/finance related degree - this was 2006.

Since leaving Uni I worked for a leading financial company on the Spread Betting Department as a sports trader for 18 months. I was directly responsible for pricing the markets, populating, providing liquidity and trading. I was highly successful but unfortunately the sports outlet was recently deemed 'surplus to requirements' and the team were made redundant. I had hoped I would be able to move over onto the proper trading floor but unfortunately it was not to be due to the cutbacks...

About me - I have been interested in the stock market for quite a while and have a fairly good knowledge of the market and the economy. I'd like to stay involved in some way as ultimately I'd like to trade or become a stockbroker but am struggling to find a way back in or a good path to take from here.

I think I'd be good at both roles, I used to love going down to the financial trading floor and watching what was going on - I enjoy the trading environment and know I have the attributes in my character to be successful - a lot of trading jobs are asking for programming skills like C++ and VBA which I don't have yet though although I think I can learn these quickly enough to a basic level.

I think I would be a good stockbroker because I am good with people and don't mind spending the day on the phone, talking to clients, etc. I don't have the necessary financial qualifications to do this though and I don't really have the cash to put myself through them just yet (am I right in thinking it's going to cost me a few grand to do these and take about six months?).

I do love the market and find everything about it facinating but it doesn't really reflect in my CV or previous jobs. I am not sure what would be the best way to go forward from here - should I study and get some qualifications, should I approach some firms about taking me on to gain some experience, etc? If so, which are the best firms to approach for somebody in my position? I am 25 and I am well aware of the task ahead of me. I have a good work ethic and am fully prepared to work all hours of the day and night in order to become successful... I am also motivated by making money and this is also a drivign factor for me as well as my actual interest.

So, any advice would be much appreciated....

Thanks
 
Stockbroking expect to start out in small-cap probably selling crap tbh, cold calling all day.

Exam wise get your rules and regs, then securities.

Cant help you on the trading front im afraid, but from my (limited) experience I would rather be a trader. Especially trying to sell AIM and PLUS stuff to Joe Public at the moment is going to be rather hard.
 
To be honest it's not the best time to enter the industry although you do have a background that is relevant and interesting. Is there no way you could trade off your own account or use your sports betting background to generate an income?

Also - remember a lot of the roles you describe are sales based these days so if you do want to follow it through be prepared to spend your days on the phone selling penny shres to pensioners!
 
Yup, apply to the decent prop firms. I just got a job with one :D:D

Don't waste your life getting into the world of a retail broker, it's a dead industry and, having spent 6 months jockeying phones, I can tell you it makes you feel dead inside.
 
who do you speak of when you mention this because as far as i can see the only main one still advertising is schneider with there "prop idol" churn and burn method

Just because they're not advertising doesn't mean they're not hiring... I just got placed with someone that's not Schneider... more fun to let you find it yourself though
 
Just because they're not advertising doesn't mean they're not hiring... I just got placed with someone that's not Schneider... more fun to let you find it yourself though

i totally agree, arcades will always be employing especially people with track records, good luck at your new place
 
Thanks for all your responses...

To an earlier post - I can and do make money from sports betting although I would like to do a job alongside it as I don't really make as much as I would like from punting and also being able to get a bet on at various firms becomes hard work after a while (generally a very short while).

I'd like to get a bit of experience with a firm (RE: financial) because I'd like to learn from a company and other traders at the same time as learning how to trade using my own bankroll.

Who would be the best prop firms to approach and what is generally the deal with them? I always thought you had to stump up the cash initially for any chances there...?
 
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