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Becoming a trader

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Not applicable
Hi everyone, I need some advice/help... I just finished my Bcom and i am working for an auditing firm. The auditing environment is SERIOUSLY not for me but it was the right job at the right time for me to finish my studies while working. I would like to get into the trading environment now. I am going to do the Investment bridging course through Unisa to allow me to begin writing the board exams for SAIS (South African Institute of Stockbroking. I am based in Cape Town and was wondering if anyone had some contacts I could use in order to get a training position with one of the larger Investment houses. Your help will be greatly appreciated. My e-mail address is [email protected]
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22 REPLIES 22
Rams
Super Contributor
this forum has been used for various things, somebody wanted a donation,one person wanted education fees,advertising,video feeds(where is CPS),and now employment agency of sorts....it has been said so many times, YOU DONT NEED FANCY DEGREES TO BECOME A TRADER!
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Not applicable
oh yes you do. You trade on the pocket change stuff. The guys that deal in the large scale stuff have all kinds of high end degrees. Jono, a mate of mine once took over 1 year to get into the industry. He eventually started re-applying for positions that he had been rejected for the previous year. He eventually got it on the basis that, if he was still looking, then he must really have wanted in. You are gonna have to really persevere if institutional trading is the field you want to get into
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Preston
Super Contributor
Jono , please complete your training contract. It makes a huge difference once it is completed in term of future salary and opportunities. You can focuse on trading at a later stage.
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Preston
Super Contributor
Jono , please complete your training contract. It makes a huge difference once it is completed in term of future salary and opportunities. You can focus on trading at a later stage.
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Rams
Super Contributor
Skaap, And all those big degrees got this economy in the the POO in the first place...easy to lack discipline if you trading billions of other peoples money.Anyway seems Jono wants to become a stockbroker so he can make money of you and me
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Preston
Super Contributor
Ram , i guess you mean changes in IFRS Standard, fair value accounting and also speculative trading (greed).
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THRESHOLD
Super Contributor
Banks etc. are accountable to stakeholders (not to mention oversight committees and government) for their actions. They MUST hire traders with the credentials to justify their delegated responsibilties; AND then there is the matter of track records.
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Preston
Super Contributor
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Not applicable
@ Skaaptjop - Thanks, I will persevere until I achieve my goal. If anything the markets have taught me to be patient. @ Preston - At the moment it seems I have no choice but to finish my articles, because there doesn't seem to be that many positions av
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Not applicable
And don't worry about Ram's money - he hasn't got any (lol)
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Rams
Super Contributor
@Skaap...eh [email protected], dream on, @Jono, if you not after my money then you wasting your time trading!
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THRESHOLD
Super Contributor
RAMS - Try and get a position in a large financial entity without any...
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Rams
Super Contributor
no you cannot, but still the point is that it still not a guarantee that you will be a great trader...i posted this question to Simon once and from his reply...best traders are mechanics!
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SimonPB
Valued Contributor
err I got a job at a bank/broker with a diploma in film and video .. an yes on any trading floor the most popular degree is engineering ..
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THRESHOLD
Super Contributor
The question seems to indicate that he wants to get into a firm...
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THRESHOLD
Super Contributor
Things have changed rapidly over the last ten years. Legislation, corprate comliance etc. STANDARD BANK is more interested in getting rid of people than employing more - so I am pretty sure they are going to be ultra fussy these days. CA'S once qualified pretty much through experience alone. PS! - Is STD still taking on traders? Or are they beginning to outsourcing the function?
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THRESHOLD
Super Contributor
Never mind accounting/financial degrees - if you had to get an engineering degree to become a trader there would awfully few traders out there.
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Rams
Super Contributor
Simon, you should make a movie about trading, imagine main actors, CPS, FRED, and Ninja as the warrior slicing thru resistance!
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Rams
Super Contributor
yes, but the post says "Becoming a trader"
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