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  • How can a newbie plan a succesful career in finance?

    Keen on taking up a career in finance specifically related to the stock market and day trading? Find out with expert advice about how a newbie can get into such a career.

    How does a student with IT background go about planning a career in finance? Can financial analysis and day trading be self-taught or do we need a bunch of mentors for it? Can a student become a broker in the financial street with newbie or novice experience or is it only an expert with more than five or ten years of experience who get to participate in the trading exchanges?
  • Answers

    6 Answers found.
  • 1. An IT student can plan for a career in the finance field. There are many packages like SAP which can be used for finance department operations also. ERP is also used for financial analysis. So try to get some good skills in these areas so that you can go ahead in the financial field with your IT knowledge. You will be starting in a junior position and as you gain experience you can progress.

    2. Financial Analysis and day trading can be learned on our own. But if you take the help of a person who is having experience in the field will help you to learn fast. For day trading also experience is required. But without participating in the trading try to lean by observing the operations. Then you will get the required knowledge and that will help in you getting more understanding the subject.
    3. If you have a high school pass out you can obtain the licence as a broker in the financial street. Stockbrokers, after obtaining the licence can do the transaction. But a good understanding of investments and capital markets is required. Buy and sell stocks for their clients is the duty of the brokers for clients. This experience will be obtained only after following the market closely and help from a person who is in the trade will be more helpful. Many brokerage firms will be hiring summer interns. This is a way to receive intensive training.
    Almost all the states require stockbrokers to pass the Series 7 and Series 63 exams. The Series 7 exam deals with financial topics relating to the trading of securities. Series 63 also covers the trading of securities with more thrust on state rules and laws.
    Initially, you require some guidance from a senior but slowly you can improve start doing on your own.

    always confident

  • Once you have acquired some basic academic qualification like graduation or some diploma course then after that there are two ways to make a career. One is stay in your core area, increase your skills, go for value added courses and then prosper in that specialised area. Second one, which might appear difficult, is to change the path and venture in something distinct and different. You are proposing the same thing here. In my experience and opinion if one has an interest in some particular area one can excel in it irrespective of the fact that his core proficiencies are elsewhere. There are many science graduates or engineering graduates who qualify in IAS and then become very good administrators and simply forget that they were basically scientists in the making. So, one can always acquire new skills and new knowledge by spending time and working hard in any line. I know one electronics engineer who never studied Geology but today he is one of the experts in Geological work in oil industry today after he acquired some basic certification in that line and did a lot of self study.

    We should not jump in the unknown territories just like that and some preparatory work is required to be done before that. If you want to trade and earn in the stock market whether day trading or normal trading or options trading then for it you have to acquire some basic skills and fundamental knowledge about this field which is in fact a high risk and high reward area. What I would suggest is there are many training sites in internet like Udemy, Coursera, Ifmcinstitute, Nifm, Google free tutorials and many others which provide some free beginners courses in this particular field and if required one can go for advanced courses also by paying a fee. As per my experience, for the beginners the basic free courses would suffice for the purpose. Once it is done then it would be advisable to learn some basic financial things by self study as they are not very tough in their understandings and concepts and would help in learning about the financial instruments in the market. Long back when I was learning about the share markets I used to keep a dictionary on financial terms which was very helpful to quickly find out the particular term which created confusion in our minds. So, by self study we can read about the shares, mutual funds, bonds and other instruments in the financial market and would feel confident for going for trading in these instruments. Once we know what are the risks associated with trading and especially day trading and what would be the margin amounts that we have to pay in case we are not accepting or losing the bid or contract. Please note that in share market or trading one would have to pay all the margins, fees and penalties etc and one has to take them in account for working out the true returns. Every transaction has an associated expenditure however less it is.

    This is an area where many experienced brokers are already in the fray and it makes sense to work under someone like that for some time to gain the practical knowledge of the things so that later one can work out the things on ones own. It is said that all knowledge is at one side and common sense is at another side and one should not forget to use the common sense along with the bookish knowledge while operating in the share market. We should very clearly understand the trends of the market which are many times induced by the big players to make money out of that and gullible people are simply trapped in that. Share market trading is a place full of such risks and only experienced and shrewd investors or brokers can survive in that tough terrain. I fully believe that with proper learnings, patience and willingness to work hard one can definitely learn the ways of market and make a career in that line. It is not tough, it only requires dedication and hard work. It absolutely does not matter what is your academic background. Just to quote an example I have done my PG in Physics.

    Knowledge is power.

  • If you have the qualification in IT background, you might have command in certain languages providing you better understanding of different modules. In a nut shell, marketing strategies of the share market is somewhat different and this needs to be understood with a different perspective by applying your common sense.
    There are a few strategies which if you adopt while practicing the share market activities in terms of day trading will provide you a handsome yield.
    1) Take care of your software and Internet connection-
    Your computer should have excellent memory and should be fast inbuilt processing mechanism. It should not crash while you are running on your trading programme.
    2) Reliable and Quick Internet connection -
    The slowest speed would prove to be a major drawback since your multiple web pages will not be updated as quickly as required. You may miss the pick time when the trade is doing its best. Hence you would be required to look after a reliable provider.
    3) A Friendly Broker -
    Your broker facilitates your trade charging some commission or fee on your trade. You need to look out for a reliable broker fully familiar with the ups and downs of the market and is capable of providing you tips in the crucial moment.
    Not necessarily his commission is cheap but paying a little higher side can fetch you substantial profit.
    4) Choose the timing of the day - trade -
    Once the market opens. normally the first two hours are important witnessing the most profitable potential again you may see sizeable moves during the last two hours prior to closing. Make the best use of such timing.
    5) Manage the day - trading Risk -
    Day - traders should be able to control both the Trade Risk and Daily Risk. In order to the the Trade Risk, you can identify such risks with some experience say a couple of months and in the meanwhile remain in touch with your broker so as to be guided in the critical moments and daily risk can be resolved to some extent with your minimum investment initial phase of learning your trading.
    6) Use a demo Account in the initial phase -
    You can use a demo account to practice your strategy while being a newbie. An exposure of at least three months before trading would familiarise you with the trading in the initial days.

  • I think if one undertakes some financial or stock market course then one can definitely venture in the area of trading in stock market. It is true that stock market has fluctuations and variations not on a daily basis but time to time there are surprises in it for the investors and traders alike. There are many agencies in our country which impart these trainings and some of the most popular trainings are Diploma in Financial Market Management, Certificate Course in Stock Markets, Diploma in Equity Sales Certification, Diploma in Research Analyst, Fundamental Stock Market analysis, Investment Analysis, Portfolio Management etc. After acquiring these skills one can start working in the stock markets cautiously and alertly and should not take high risks as there is always a threat of losing money. So, one should go on slowly and gradually and when the confidence level increases then only bigger deals should be attempted. This is a line where experienced traders are already working round the clock to satisfy their clients and one has to learn the tricks of the trade from them if they are ready to share some of those secrets with you.

    Thoughts exchanged is knowledge gained.

  • As you are an IT student, you are familiar with the latest technology and software that can be used to your advantage at times. There are many ways from where a person can learn about making a career in finance, stock market and day trading that be self-learned or through others. Now when we talk about stockbroker or day trading, it has a slight difference but both need a clear and thorough understanding of the market, its fluctuation and correct timing. It can be a full-time, a part-time or just a way to generate a secondary income through the knowledge of the stoke market.

    Day trader - It is a self-employed person or individual who enters the share market to earn money by buying and selling shares using his, families or friends money without any external help but fully shoulders on himself.

    Stoke broker - He/she is a person much in touch with the client who provides updates about the market fluctuations, advises of buying and selling stocks and securities depending upon the market condition, the rates of stoke while selling and also look to generate high revenues for their stock trading company.

    Q: Can financial analysis and day trading be self-taught or do we need a bunch of mentors for it?
    A: If you can devote one to three hours per day to check on the stoke market focussing on the opening and close of trading, the forex, BSE will help you to get the know-how of the market. If you are interested to make a career in the stock market, you can take up any online or offline course which will help you understand the ups and downs of the market.

    Q: What are some of the courses that can enhance your skill as a trader?
    A: Some of the courses that can be learned to enhance your skills in stoke broking are - Stock market course for beginners, Stock market course for traders, Quick Trader Course, Technical Analysis Course, Fundamental Analysis Course, Investment Analyst & Portfolio Management, Equity Dealer Certification, Certificate Course in Stock Market, Diploma In Financial & Stock Markets, Diploma Investment Advisory and Diploma In Research Analyst.

    Q: Does a student with IT background go about planning a career in finance?
    A: The minimum education qualification is graduation, the minimum age is 21 years and 2 years of experience in the stockbroking company after graduation. If you are interested in becoming a sub-broker that requires12th standard. Normally, every stockbroking company looks for a person having a background in the field of commerce, economics and business administration.

    Q: What are the qualities required to become a professional stockbroker?
    A: Some of the qualities that help to make a career in finance stock market is dedication, passion, intelligence, understanding of the market or Logical Thinking, Good Communication skill and mathematical skills and collection of data or information of the market.

    Q: What are other position available in finance or trading?
    A: Some of the stock market career options are Equity Advisor, Technical Analyst, Fundamental analyst, Relationship Manager, Self-investment, personal or company Financial Advisor and Consultant, Broking-sub Broking services, etc.

    Q: What is the salary of the stockbroker in India?
    A: The salary of the stockbroker in India depended on their qualification, performance and client or company he/she is working for. The average salary of a stockbroker/trader ranges in between Rs 20,000 to 40,000 per month.

    “The most important thing in life is to learn how to give out love, and to let it come in." — Morrie Schwartz

  • There is no doubt that finance is a great career option. There is unlimited growth potential in this area. But to make a career in the field of finance, you need the right guidance. If you want a good career in this field then you should do MBA in finance. MBA is in many subjects but in MBA finance studies the entire focus is on finance. For this, you must find a good institute for an MBA in Finance, where the record of studies and placements is good.
    Investment Banker - A Bachelor's degree in Finance is required for an entry-level job in this field. Explain that in the field of finance, investment bankers are the highest-paid employees. Investment bankers mainly work in investment banks whose job is to raise capital for an individual or a company.
    Portfolio Manager - Portfolio managers manage their client's portfolios. Such managers work in hedge funds or money management firms. This is a responsible job, so the salary is also good for this job.
    Financial Analyst- To become a financial analyst, you need to have a good knowledge of the market, accounting, and economy. The Financial Analyst mainly advises companies on strategic decision making and investment.
    Stock Broking- There is no doubt that stockbroking is a lucrative career. If you have done MBA in Finance then this is a very good career option for you. As a stockbroker, you can also take up a job or open your own broking house. Earning in this field depends on your qualification.

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