How to become a successful stock market trader

A university degree is a basic requirement for a person aspiring to become a stock trader. Wall Street moves the economy of the United States. This gets just about everyone aspiring to understand and become part of its trading floor.

5 Simple Tips for Successful Stock Trading | InvestorPlace

Becoming a successful player on Wall Street is not just about money -- you must have knowledge that stretches beyond numbers. People want to become traders for various reasons, but the main motivation is either passion or financial ambitions.

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To avoid struggle and frustration, it is important to understand what you need to do to become a trader before you start trading. A four-year degree is a basic requirement for any person aspiring to become a stock trader. Most traders have degrees in accounting, finance, banking, or economics, although other disciplines are allowed to participate. Some traders move ahead to obtain an MBA to enhance their understanding of the markets.

This education is needed to familiarize yourself with stock market terms and concepts. For students about to start or are already in college, and aspire to become traders, it is advisable to earn a finance degree.

Relevant courses for the profession include financial trading, securities valuation, investment strategies, and financial and money markets. However, a series 56 examination course will allow you to go through the specific and relevant subjects needed for stock trading.

To become a successful trader, enrich your academic qualifications with genuine interest and special skills. Some of the most desirable skills are sharp analytical abilities, marketing, communication, attention to fine details, and tact.

The easiest way to get access to a Wall Street firm trading desk is to reach out to an investment bank. A trading desk is an area where selling and buying transactions for securities take place, and are found in banks or financial institutions that deal with investment securities.

It gives traders access to direct trade executions.

Begin with an entry-level position, and, while in this position, sharpen your trading skills to secure a hiring with the bank or financial company controlling a big trading desk. If you are a college student, it might be a bit difficult to get a trader position, so you can begin by becoming an assistant to a stock analyst or trader.

There are also investment banks and companies that offer internships for straight-out-of-college jobs for traders that are in the licensing stage and sitting for the series 56 examination. You must pass the Series 7 or Series 56 examination to receive a license from the Financial Industry Regulatory Authority, FINRA. This exam equips the trader with knowledge on stock exchange rules, securities markets, option strategies, anti-fraud, and trading and reporting regulations.

To be allowed to take the exam, you must be sponsored by a company that is registered with FINRA. A successful completion of the examination enables the candidate to get licensed as either a broker or a trader. Being licensed improves your credit as a reputable and competent trader.

How To Become A Successful Part-Time Forex Trader

As you scale up the trading ranks, you may be required to take an additional test, the Uniform Securities Agents State Law Examination. After passing the exam and attaining a license, you can request to be moved to any vacant trading desk. Here, the trader learns how to develop Wall Street stock trading strategies and carry out trades on behalf of the investment bank or clients of the firm. At the trading desk you also get an opportunity to study Wall Street up close and identify a niche for your client.

However, before starting assignments on the trading floor, you must be screened by the FBI, because Wall Street deals with sensitive financial matters, such as government securities, position, and trading data, securities-level data that, when leaked, can lead to damaging market speculation and economic espionage. Ensure that whomever you choose to work for is registered with FINRA or NYSE to ensure legal operations, because the FBI is on the lookout.

Joseph Petrick has been a writer and editor since He writes career, business and education articles. His work has appeared in several online publications including Career Today.

Skip to main content. University Degree A four-year degree is a basic requirement for any person aspiring to become a stock trader.

Investment Bank Entry-Level The easiest way to get access to a Wall Street firm trading desk is to reach out to an investment bank. Examination and Licensing You must pass the Series 7 or Series 56 examination to receive a license from the Financial Industry Regulatory Authority, FINRA.

Moving Onto the Trading Desk After passing the exam and attaining a license, you can request to be moved to any vacant trading desk. References 5 Dr Stock Trader: How to Start Your Career as a Stock Trader at Wall Street? How to Become A Wall Street Trader?

10 Great Ways to Learn Stock Trading - wunesajoc.web.fc2.com

Securities Exam Preparation Inc. How Do I Become A Stock Broker? How To Become A Stock Broker Wall Street Trading: About The Series 56 Exam.

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