If you have ever thought about becoming a trader, then this article is for you. You'll learn everything you ever wanted to know about becoming a trader, where traders work, how much they get paid, what kind of additional in-service training they need, how you can become a trader, some of the dangers involved in the job, when you can expect to retire and how you can make difference in the lives of the people you serve.
A trader places large amount of money into the financial markets in order to generate a profit for the institution they work for. It is a stressful environment since performance is key. Everything they do affects directly the P&L (Profit & Loss) of the institution they work for. This also affects their year-en bonuses.
Traders buy and sell stocks, bonds, securities, currencies.
Traders wake up, and they read the news about the stock market, so they know how to react.
Traders can work in different places. They can work from home or in an office. The advantage for working from home is that you can be on your bed and make money.
You can learn to trade by yourself, it will take time and patience, but without any courses, you can be able to trade and have good results. However, you could take trading courses, and then have a certification of your experience in the field.
Honestly, it is difficult to put a figure on the salary of traders. It depends on a lot of things like the economy, the news, the time you invest on your trades, the amount of money and many other factors. The variety of the salary can be very impressive. One month you could make almost 5 thousand dollars and the next month it could triple.
Traders have to stay updated with what happens in the market. They have a lot of training and conferences to adjust their technique to the recurring changes that we see in the different financial markets.
Traders generally don't have hourly wages, their salary works from their investments so that could be a huge danger if they don't work seriously, and be on the lookout for everything that happens.
They are no chance a robot replacing a trader because the algorithm will never be able to sense the emotions of the market as a human will do. Algorithms are very effective and the way they trade as everything is calculated perfectly according to their strategy.
Most of the traders are in their 20s or 30s. They usually work for a few years, approximately 2 to 5, and then they retire.
I am in the beginning of this career trajectory. The profession of trader requires a lot of work, a lot of time, and sacrifice. A lot of patience and optimism, because it's a roller coaster, sometimes the market is doing very good, and other days it's a disaster, so you have to be very active.
Rationale: to inform or educate
Authority: government
Date: custom
Accuracy: probably true
Relevance: relevant for this document