I want to get into the stock market business,how do i start?
Where do I go? How do I start?
- A nobodyLv 77 years agoFavorite Answer
If you want to be an investor, read - "Investing for Dummies" by Eric Tyson
The "stock market business" is a very BIG industry, you'll have to be more specific
Do you want to work for a brokerage firm, a bank, a mutual fund, accounting firm, clearing firm, data processing vendor
Do you want to get into sales - what type - retail, institutional, corporate, - what do you want to sell - equities, fixed income, ETFs, mutual funds, commodities, clearing services, trading services, retirement services
Do you want trading - what type - equities, fixed income, commodities, funds, brokerage services, and what markets do you want to work in - listed, over the counter, private placements, commodities,
Do you want to work in brokerage support - accounting, law, technical, data transmissions, data processing, office LAN, programming, margins, dividends, ACATS, ReOrg, Transfer, Retirement Plans, conversions, compliance, cashiering, sales assistant, ,
Based on the wording of your question, no one can provide you with a proper response.Source(s): from the street
- Anonymous5 years ago
Binary options let users trade in currency pairs and stocks for various predetermined time-periods, minimal of which is 30 seconds. Executing trades is straightforward. The system uses user-friendly interfaces, which even an 8 years old kid, can operate without having to read any instructions. But winning trades is Not easy.
Binary trading is advertised as the only genuine system that lets users earn preposterous amounts of money in ridiculously short period of time. Advertisers try to implicate as if you can make $350 every 60 seconds; if it was true then binary trading would truly be an astonishing business.
However, does it make any sense? Can every trader make tons of money in binary trading? Who is actually paying all the money or the profit to traders?
The first challenge is finding a trustworthy binary broker; secondly, you need to find a binary trading strategy, which you can use to make profits consistently. Without an effective trading strategy, there is no way you can make money in this business.
Learning a profitable trading strategy is possible, You should watch this presentation video https://tr.im/16635
It's probably the best way to learn how to win with binary option
- OPMLv 77 years ago
As a business, you will first need to be sponsored by an existing firm. I would recommend an undergraduate degree in finance or sales. You will have to pass, at least, the Series 7 and either/both the Series 63 or 65. This will provide you your basic training. An undergraduate degree will not prepare you for the process. Likewise, the absence of a business degree will leave you unprepared to perform the operational side of the business. The legal compliance standards are strict and you cannot learn them on the job, realistically. Unless you think you can enact various accounting standards without the underlying skill set, you need an undergraduate degree in business. Although any will do, both finance and sales emphasize the key areas.
After you reach this point you will need to build up capital. Different states have different requirements. For example, Pennsylvania will allow you to act as an investment adviser if you can post $2,000,000 in capital that can be seized by the state to pay off your customers should you fail to meet a legal or contractual obligation. This does not mean you can start a firm with $2,000,000 as that is the minimum you could never fall below. You want to be able to take large losses and have money to build an initial book of business. I would recommend a starting capital base of at least $5,000,000 as an investment adviser. As you will learn from the series 63/65 you are going to be very limited in how you raise that capital so you will need the lion's share to come from your own pockets.
If you have enough capital then you could go even farther and become a member of an exchange such as the New York Stock Exchange. It used to be required that you own a "seat" on the exchange to trade there, but they now allow for "memberships." Seats used to trade at around $4,000,000 in 2005 before they switched to "membership," and stopped providing information on the cost. To fill out the paperwork to be a member requires a $20,000 non-refundable fee along with around $100,000 in associated costs before you are even allowed to pay for the membership, if you are approved. Until then, you will need a clearing brokerage such as Pershing. Of course they will eat up a lot of your money as they are the true broker and you are just a front operation.
Finally, you will need specialty attorneys, accountants and CPA's.
- 6 years ago
If a person has no knowldge and skills about Forex then it will be very difficult to trade in Forex. But if you use the right software you can make very good profit. The best software is called "autobinary signal". If you aren't a big expert this software is the only way to earn good money in Forex.
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- Anonymous6 years ago
the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.
- Common SenseLv 77 years ago
What do you want to do?
Be a trader?
A market maker?
What level of education do you have?
Do you see yourself going past a under graduate degree?
In other words....... more information is needed.