Stock market trading requires specialization in the securities, commodities and financial services domains. These professional are mostly associated with brokerage houses, investment companies, retirement funds and other financial institutions. Stock market traders can be seen corresponding with stock brokers, placing buy and sell orders, trading stocks online and taking care of necessary red tapes. A Focused, analytical mind which is capable of quick-thinking and communicating in an articulate way can do it big in this industry.
Education Qualification for Stock Market Trading
Bachelor’s or master’s degree in finance or business is very helpful for this profession while licensing is a must to get into this domain. Regular 4-year undergrad programs include corporate finance, business economics, global economy, investment management, international markets, banking and securities. Depending on job responsibilities, one can acquire licenses, like – the Series 7, Series 63 or Series 66 license. To obtain these licenses one needs to attend classes and qualify in relevant exams. Employers often fund employees in getting licenses after hiring.
According to U.S. Bureau of Labor Statistics the Median Salary (2015)* was $71,550 for securities, commodities, and financial services sales agents, while U.S. Bureau of Labor Statistics (BLS) indicates that employment in this field will grow by 10% from 2014 to 2024, especially for securities, commodities, and financial services sales agents.
Skills Required for Stock Market Trading
The most essential skill is to have the nerve to survive stressful situations. The ability to think and act fast and the attribute to adapt and focus deeply are of great benefit. Strong analytical, communication and interpersonal skills are the other critical requirements for a successful career in stock market trading. Experts feel there will be stiff competition as many young aspirants are fascinated by the industry’s high salaries. According to the BLS, as of May 2015 securities or commodities and financial services sales agents earned a median annual wage of $71,550.
Financial Analysts & Personal Financial Advisers
A financial analysts study the performance of stocks and research on companies. They decide on the nature of investments for their clients and then plan a proposal through wide-ranging research on economic trends, company performance and rates of return. Personal Financial Advisors help clients plan their financial future by opting for prudent investments. These advisors have deep understanding of client goals, elucidate the benefits and risks of particular investments, share financial opportunities, assist clients create accounts and watch results to gauge if alterations are needed.
These analysts and advisors generally possess bachelor’s degree in finance, accounting, statistics, economics or a related field, or a master’s degree may for more intricate job profile.
Online Stock trading
Online trading is fascinating and more and more people are engaging in it every day. However, it could get little tricky for the uninitiated and even the regulars also need guidance at times. Today, the trading platforms are furnished with an array of features which are user friendly and help traders with insightful guidance in every step. The options including – Limit, Market, Stop Limit, Orders and the special trading option called Trading Stop Loss – are especially built for customer benefit and smooth trading experience.
These features are especially helpful for the traders to get rid of heavy losses. The most unique of all features available on the sites is the Trailing Stop Loss which enables users to earn quick bucks, without spending much time in watching and tracking.
The platforms now work on the concept of shared liquidity, so as to enhance the scope of liquidity. This property is of immense importance to traders as they often have to move hastily in or out of a position either to capture a flattering price or when a stop loss order is generated. Besides, it helps users to fill the market price, buy and sell orders immediately without wasting any time.
Now a day the sites boast of inbuilt advanced portfolios which offer its users the option of automated portfolio maintenance. It comes with detailed information about their executive trades and eliminates the dependency on third party applications for the maintenance of the portfolio.
To facilitate ease of operations and usage, the trading pages are designed in such a way that the traders get a hassle-free experience while navigating the site. The designs also enable swift movement of pages for faster trading. To make it all the more exciting now users can access multiple information and data at a time without opening additional tabs.
Exchange companies now offer services to customers all over the world and accept users irrespective of geographical locations.