how to start a career in stock trading?

[metadreamerboy]

im sorry but i cant find the thread on careers for stock brokers.my question is, for a person inexperienced in the market, how does one start a career on it?

[sanmig13]

metadreamerboy - Check out http://www.Tsupitero.com/. If you want to start learning how trade the local stock market, this website will give you an idea of how to do it via the technical analysis approach. ;)

[cvgt2]

medyo OT, pero ano-anong companies locally offer stock options to their employees kahit rank and file?

[tidus1203]

My suggestion before starting a career here and make a living of it is you gotta have a pretty decent amount of money. Trading is a game of percentages. If you have like P5M then 10% of that is P500,000 which is a lot of money but 10% of let's say P100,000 is P10,000 and its not enough (for me) to live on. Also there are risks associated with it, if you're rich you could probably quit your day job and try trading. However, if you're not dont career it just make it a sideline.

[knightrader]

My suggestion before starting a career here and make a living of it is you gotta have a pretty decent amount of money. Trading is a game of percentages. If you have like P5M then 10% of that is P500,000 which is a lot of money but 10% of let's say P100,000 is P10,000 and its not enough (for me) to live on. Also there are risks associated with it, if you're rich you could probably quit your day job and try trading. However, if you're not dont career it just make it a sideline.

I agree. Capital is essential and without enough funds to last the learning curve, it will be very hard to stay in the game. However, a big capital without skill, passion and discipline is much worse than someone with those traits and just adequate capital ($50,000 or more). That means a year or two of living expenses apart from the trading capital. Trading is hard enough without the added pressure of having to make enough to pay the mortgage. he-he That is why, the successful traders are usually already successful somewhere else and/or got a very patient mentor.

As far as working in the field first to gain exposure, knowledge and the trading capital; there are plenty here in the USA (I have no experience in PI). You can start as broker (stock, futures. options), analyst, investment banker (tough to get in he-he), in-house trader. There are also trading firms that will allow you to trade with their money after a "little" deposit like $25,000 where your losses will be taken from. he-he

That website mentioned previously, tsupitero.com, is great! Those guys know their stuff from battle-tested wisdom and skills. If anybody wants to learn, start with the candlestick charts (Steve Nison is the BEST) first. Religiously study it. Then support and resistance levels. Then and only then, study the plethora of price-based and volume-based indicators like stochastics, MACD, money flow, CCI, etc. I am glad to know that technical trading is alive and well in the Philippines. This business could put us on the financial world's map someday. :)

[Ryo Saeba]

im sorry but i cant find the thread on careers for stock brokers.my question is, for a person inexperienced in the market, how does one start a career on it?

As a former broker myself, here's what I can share:

A broker (or a salesman/agent) needs to be licensed before doing the work for a brokerage. Of course, this is all on paper and the actuality of it is there are other companies that do something similar to an OJT before you get a license. However, that is illegal and the broker will be penalized by the SEC if they were found out.

Okay, first you need a license. Next you need to know how to filter out which stocks are worth getting into and which ones are not. This you will learn on the job. Most people start with fundamental analysis (since this is taught in business courses in college). Another would be to learn technical analysis. It is then up to the person which of the two they would want to use. Mixing the two would end up to be confusing.

You also need contacts.

Be warned that as a broker, your source of income would depend heavily on how much trades you are able to generate for the brokerage house. It's always an either/or situation with them. Either you have a salary or a commission. Never both. And most of the time it's commission. No loss for the brokerage if it was all commission.

Most important of all, always put your clients interest ahead of your own. Whenever your interest is put first ahead of theirs, trouble always happens.