Hi first off I apologize if this isnt the right topic to post this question under, but it seemed the most relevant to me. Anyways...I was wondering what you all might reccommend to someone who wants to learn how to be a stock trader. What degrees should I look at, I thought maybe a degree in economics but then thought that might be too broad. How did all you get into it? Thanks, -Justin
uh oh ... kid ... before you get too excited with all the advice and offers sent to you what kind of stock trader do you wish to become and how old are you ?
Ok, well first off I am 22. Currently I think day trading would be interesting, but Im sure that will probably change once I learn more about the field. And, yes I do realize that day trading is very high stress but it sounds very interesting to me and I think I could get a rush out of it, which is what I would like from any job in the first place. I want something where the money I make from it is proportional to the effort I put into it. I also have always had a good interest in economics and an odd morbid fascination with math. So...I ask myself why not try to learn how to become a stock trader.
the field of dreams ( daytrading ) is filled with a few millionaires who might not have gone to college ( i.e. flower sellers , pool cleaners ) so it is not essential to even go to college in order to do it but you might want to consider a college education as being more useful to you down the road in case you do not make the "cut" good luck to you
I really do not know what to tell you Justin. What can I say that can convince you to avoid debt? To scrimp and save? To not squander your money on girls or bars? To not buy things? To hold to these principles when people ridicule you and criticize you? The magic of trading is the compounding of wealth. You might calculate what happens to $ 10,000 if compounded at 10 % for 30 years. Trading is not so much about buying and selling stock or futures or anything. Trading is about the long term growth and accumulation of wealth in all forms. I know of no school that produces successful speculators, likely because discipline and personal effort can not be taught. You might want to go to school and learn something that gets you a job. Having a job might help you sometimes. You might want to write computer programs to test trading methods to learn what works and what does not work. If you can show us simulated trading performance data showing a profit then you might be ready to trade real securities in real time with real money.
Justin - if you decide that being a trader is what you want to do, here are some ideas of classes or directions to take: > Computer programming - can be extremely useful in trading. > Finance - some finance classes would be good for general info. > Msft Office - learn how Excel and Access work inside and out. > "Trading" courses - some schools now have active portfolio mgmt classes, see if anything is available as this gives you a chance to get your feet wet. That is what I wish someone would have told me to focus on when looking at this career path. As a major, I would probably lean towards the computer programming part and then minor in finance or econ. Good luck!
So did none of you guys get a formal degree to get you to where you are today (in terms of the stock market)? How did all of you get into and learn about trading?
Serious but a cynical answer: Open an account and start trading... (bad advice for a newbie, but it's true) A more newbie friendly answer is to get a job in a hedge fund, major institutional bank, or investment house.
Not too sure what a hedge fund is...but can I even get a job with any of those without having a college education?
Hi Justin. Here you can see what they are looking for. http://jobs.efinancialcareers.com/Trading.htm Very often it seems programming skills are searched for. Trading goes beyond that i would guess but...well.. It goes beyond what is taught in schools as well i suppose because a market is always changing when people compete about the money. So the few who wins will have to fight to stay at the top. For that i would say money management is the most important.