IS TRADING A MORE IDEAL JOB FOR YOU?
If you are tired of the routinary nine-to-five office employment that you have, then maybe you should consider trading as a replacement to your current occupation. Don’t think you can handle it? No worries, the evolution of technology in today’s modern era and high volume of exchanges have given rise to a low-barrier entry into the trading field. Presently, even the average person with zero background in the field can enter the business, given that they possess the right amount of perseverance and eagerness to learn.
Considering how the markets nowadays are interlinked, it would be a lot easier for you to trade within your most convenient time. This means a minus on your stress of handling your other obligations as well such as family, or maybe a full-time job. Although there are a lot of options when starting out in the trading field, our focus would be on what will be suited for ordinary people who wish try their luck.
If you aim to trade independently, you can consider day trading as your style as it allows you to purchase and sell your securities before the day closes. Even better, try day trading from home. This way, you may continue your trader experience while still being free to work on you other tasks. The only downside of this method is you need to have a high amount of capital to begin with. The minimum equity requirement for this strategy is $25,000, which you are also required to maintain because you will be prohibited from day trading had your account slipped below this threshold.
Again, no worries. You have other choices if you still want to be a trader. One of the most applicable suggestions for a low requirement entry is to try the foreign exchange market or forex. Aside from allowing you to begin with as little as $100, you may control a huge capital with a small sum of money plus, it is open for 24 hours so you may have an alternative trading time in case you are not available during regular market hours.
Another bonus for you is that contract for difference (CFD) has evolved as well. It is an electronic agreement between companies that do not involve ownership of the underlying asset. Forex market allows you to trade stocks using CFD and it also gives you a higher leverage, which equals to a lower amount of money for capitalization.
Meanwhile, if you have the time or would still like to work in an office, familiarize yourself with proprietary firms. These are great not only because they give you training, but also because it also offer structures for a lower fee. Under this system, you will be given your capital and risks will be handled by the firm, reducing burden from the trader while allowing him/her to work under supervision as well.
Your compensation will be based on your performance and licensing may or may not be required, depending on your company. As each firm varies in terms of operation, you need to choose the one best suited for your interest and current situation.
After you have decided on which strategy would work best for you, it’s time to think about your trading plan and study the different types of broker, preferably with someone with expertise on the matter.
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