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Can Trading be a career?

Trading is the profession of frequent sale and purchase of stocks for profits.  Often compared to gambling, the art of trading is a calculated risk which involves winning some and losing few. Hence if you are planning to launch a career in trading, it needs a certain amount of preparation to be financially strong and liking for the subject itself. The pre-requisite is also a liking for numbers, inclination towards spotting trends, patterns, and analysis of the market. Before you explore career opportunities with online trading course, here are some things to know: 

Taking the first step

Rather than directly launching into the field and working independently, the right way to kick-start a career in this field is to work with a reputed brokerage firm or with the fund management department in a renowned bank. Since these businesses usually have high volumes of trading, it will help you understand the nuances of the market and the buying or price of stocks. 

Making it by yourself

If you are planning to make a foray into this field independently, then you need to prepare psychologically for the inconsistencies in the revenue stream. Since the fluctuations of the market and disappointments with high loss ration can be deterring, it is important to keep a cool head and stay calm.

Learning the basics

Also, if you are starting off independently, one of the prerequisites is to learn and master the basics which offer a solid foundation. Choose some informational and reputed websites that offer information on how to rate trading performance, capital required for efficient trading, the dip and rise of prices and risk management

While you are working on the basics, it is important to determine if you want to trade in stocks, forex trading or futures. 

The next plan is to figure out a trading technique or seek advice from a professional trader to understand their trading technique. Some traders also offer personal mentoring which is a great way to learn how to trade. 

Full-time Day Trading

This involves active trading by applying intraday strategies for making profits from the price changes on a given stock. Since it requires a high amount of technical analysis and self-discipline, day trading is also based on several strategies that require staying active and capitalizing on the volatility in pricing based on news events. These traders also use highly sophisticated algorithms to make benefits out of short-term market fluctuations. 

Getting access to trading desk

Generally meant for traders who deal in big money or work with prestigious institutions, they have an edge in the market with this. The dealing desk is meant for offering traders with instant order executions that are based on sudden movements in prices. 

Practice

After getting a sufficient understanding of trading concepts and techniques, it is important to practice well and participate in demo trading or simulations to prepare yourself for the real deal. 

While a career in trading is lucrative, it is important to be wise, prepared and equipped before making this a full-time profession. 

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