How can I become a floor trader?

Floor merchant is someone who is a member of the stock exchange and trades for his own account, place for others. Sometimes they are also called registered competing traders, liquidity providers and local residents. Becoming a floor trader is risky and not for a weak heart. Because you use your own money on the stock market, it is easy to see large profits or large losses in a single day.

If you want to become a floor trader, you should first attend a college and get a business title. The bachelor's degree would be fine, but you are better with a master's degree. Spend time by studying basic analysis and other courses that will help you in your career. A higher degree can give you a slight advantage over other traders. The more you know about how the stock exchange works, the better you can do as a floor trader.

after Completing Tisse, the next step isgain experience on the stock exchange. It's a very fast, competitive career field. It is necessary to get a sense of how it works before you go yourself. Working for brokerage is one way to get an idea of ​​how the system works. After some time look for a job as an official. The clerk is someone who does exactly the same work of the floor trader, but for another person. It is a great way to really get hanging out what you do every day as a floor trader.

At work for others, it is time to start saving on stock exchange membership. These membership is necessary to trade on the stock market and are very expensive. The New York Stock Exchange seats are sold for approximately two million US dollars (USD). The annual membership of the Chicago Stock Exchange costs around $ 7,000, and does not count other fees that may apply. For a cheaper option it is possible to temporarily rent membership, but eventually you will pto be wrapped up by your own.

Once you buy a space for the stock exchange, you can go to the floor and start your career as a floor trader. Using the information and experience you have gained on your way, you can earn a lot of money in your new profession. It is successfully possible to enjoy early retirement, spend sailing around the world in your new yacht, or visit distant countries in your private beam. Good luck!