EXPERT ANSWER
Jul 31, 2019 - 01:16 PM
Stock market trading can indeed be a career--for the right kind of person. If you’re looking for fast or easy money, you’re better off working in sales. But if you have a freakish ability to pluck signals out of noise, and an equally freakish yen for placing bets on what will happen next, then you probably are the right kind of person.
You can pursue a stock market trading career working for an investment firm or financial institution. Often such jobs are very high pressure, and typically require an impressive pedigree or background to get in the door. If you work for a firm you’ll likely be trading for the purpose of achieving portfolio objectives, which may or may not agree with you over the long-term.
An individual stock market trading career is more difficult, as you will need highly specialized knowledge, your own source of capital, a lot of discipline, and very strong risk management skills to go along with a risk-taking personality. That combination is very rare.
Either way, your best bet is to find a good mentor, and develop a solid trading system as early as possible so that your career can start paying for itself. You don't want to get into a position of throwing good money after bad, either in your trading positions or your trading career.
You can pursue a stock market trading career working for an investment firm or financial institution. Often such jobs are very high pressure, and typically require an impressive pedigree or background to get in the door. If you work for a firm you’ll likely be trading for the purpose of achieving portfolio objectives, which may or may not agree with you over the long-term.
An individual stock market trading career is more difficult, as you will need highly specialized knowledge, your own source of capital, a lot of discipline, and very strong risk management skills to go along with a risk-taking personality. That combination is very rare.
Either way, your best bet is to find a good mentor, and develop a solid trading system as early as possible so that your career can start paying for itself. You don't want to get into a position of throwing good money after bad, either in your trading positions or your trading career.
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