How to Be a Full-Time Trader
A full-time stock trader, sometimes called a "day trader," is an individual who makes a living buying and selling bonds and other financial securities. Although many such individuals have prior stockbroker experience and/or degrees in business or finance, anyone can begin a career as a professional trader. Unlike most full-time workers, day traders do not earn a set salary. Instead, their incomes are tied directly to the performance of the securities in which they invest. You can become a full-time trader by following a few steps.
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Instructions
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Save money to cover at least six months of living expenses before leaving your current job. This is essential because day traders rarely turn a profit until several months into their venture, according to the U.S. Securities and Exchange Commission.
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Obtain a personal loan with which to begin trading. Obtaining a small loan will allow you to dedicate a significant sum of money to trading, without putting your own funds at risk.
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Set normal working hours. Although most day traders work from a home office, they must keep regular hours. This is because traders can buy and sell their stocks, bonds and securities only while the markets are open.
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Tips & Warnings
The U.S. Securities and Exchange Commission warns that full-time trading is a high-risk profession that could result in the loss of your income and assets. The commission advises individuals to begin full-time trading careers only if they are in financially secure positions.
Don't expect to earn money quickly. Full-time traders typically suffer large losses in their first few months on the job, says the Securities and Exchange Commission.
References
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