How Can I Become a Stock Floor Trader?
Wednesday, March 4th, 2009 at
10:53 am
B asked:
I want to become a stock (or commodity) market trader / broker / other related career where you physically work on the trade floor. Is that a good choice now with most exchanges going electronic? What skills do you need? What qualification and certifications? Please advise an enterprising young fella as he seeks a career path.
I want to become a stock (or commodity) market trader / broker / other related career where you physically work on the trade floor. Is that a good choice now with most exchanges going electronic? What skills do you need? What qualification and certifications? Please advise an enterprising young fella as he seeks a career path.
Tagged with: Commodity Trader • Floor Trader • Young Fella
Filed under: Commodity Trading
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Floor traders are becoming a dying breed. Many exchanges are moving closer to fully automated trading floors where a physical presence on the floor is not necessary.
While I have only known a couple floor traders, their job was more about managing risk, than really making a decision on the market, and they focused on making small amounts along the way. The floor traders that I knew where all good in math, understood what they traded, all which helped them manage their risk.
As for getting one of these jobs, unless you know someone, it’s likely difficult to get one of these position; however, if you had some financial backing you could purchase a seat on an exchange.