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I just finished my bachelors degree and highly interested in learning stock trading and I think best way to learn is on the job training.
So I am thinking I should get a job at one of those stock trading / brokerage company
But how do I get a job .?
I have applied but they dont choose me.
What school did you attend and what was your major? Did you do any internships while in school related to trading?
Unless you graduated at the top of your class in a "Wall street feeder school" it is unlikely you will be hired as an entry level trader.
You WILL NOT learn how to trade by becoming a stockbroker; that is a sales job.
If you are serious you could look into some of the more reputable Prop trading firms. You WILL NOT BE PAID a salary. You will likely have to pay for training as well.
Two of the better known prop firms are SMB capital (SMB Capital) and Axia futures.
Watch some of their videos on Youtube.
On the other hand you could try to develop skills on your own and trade your own account.
Bottom line is nobody is going to pay you AND train you.
What school did you attend and what was your major? Did you do any internships while in school related to trading?
Unless you graduated at the top of your class in a "Wall street feeder school" it is unlikely you will be hired as an entry level trader.
You WILL NOT learn how to trade by becoming a stockbroker; that is a sales job.
If you are serious you could look into some of the more reputable Prop trading firms. You WILL NOT BE PAID a salary. You will likely have to pay for training as well.
Two of the better known prop firms are SMB capital (SMB Capital) and Axia futures.
Watch some of their videos on Youtube.
On the other hand you could try to develop skills on your own and trade your own account.
Bottom line is nobody is going to pay you AND train you.
If you knew this was the field you wanted to go into, you should have arranged for internships with places like Charles Schwab, while you were working on your degree. That's one way people get into it. I have a couple of nephews who interned for Schwab for several years while getting their BA, so that already a couple of years after graduation, they were able to start their own investment firm, and have done well at it. You're starting a bit behind schedule, so to speak.
Be aware, that brokers get paid on commission, so in order to get paid, you have to bring new clients into the company you work for. It's as much a sales job as it is about managing people's investment accounts. You need to sell your company to potential new clients.
Here's some info from the link posted above:
Quote:
Due to the complicated nature of investments and other factors, stock brokers must pass exams in order to become licensed to legally buy and sell securities.
Learn what material the licensing exams cover, and study that material. I hope you're good at math. You also need to be a good "people" person.
What school did you attend and what was your major? Did you do any internships while in school related to trading?
Unless you graduated at the top of your class in a "Wall street feeder school" it is unlikely you will be hired as an entry level trader.
You WILL NOT learn how to trade by becoming a stockbroker; that is a sales job.
If you are serious you could look into some of the more reputable Prop trading firms. You WILL NOT BE PAID a salary. You will likely have to pay for training as well.
Bottom line is nobody is going to pay you AND train you.
This isn't true at all.
I've worked in the industry for years, and you learn a lot about trading as a stockbroker. Most companies will hire people right out of college as entry level analysts, then move them to traders/brokers/advisers/whatever after a few years. You definitely don't need to graduate from a 'wall street feeder school'.
OP, start studying for your CFA, buy a FINRA series 7 study book, learn those type of skills. Look for analysts jobs at mutual fund companies, banks, etc. to start. We have three floors of traders in my building and I can count on one hand the number who came from a 'wall street feeder school'
Bottom line is nobody is going to pay you AND train you.
Back in the "olden" days around 1976 I went to work for Merrill Lynch as a stockbroker. They paid me to sit in the back room and study for the Series 7 all day long. Then they paid for me to live in a hotel in New York for a month and take classes to pass the Series 7. After 6 months I was ready to be a stockbroker and it was nothing but phone sales. It was awful and I left after another 6 months. Interesting year though.
Back in the "olden" days around 1976 I went to work for Merrill Lynch as a stockbroker. They paid me to sit in the back room and study for the Series 7 all day long. Then they paid for me to live in a hotel in New York for a month and take classes to pass the Series 7. After 6 months I was ready to be a stockbroker and it was nothing but phone sales. It was awful and I left after another 6 months. Interesting year though.
What do you mean phone sales? You mean, you didn't have clients and took calls from small portfolio clients?
What do you mean phone sales? You mean, you didn't have clients and took calls from small portfolio clients?
I think he means making cold calls, to pitch the brokerage to potential new clients.
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