Business Q&A

Hiya,

I will be a Junior in High School for the next year, and I really want to become a stock broker. Can anyone give me a brief day in the life of a stock broker?

Also, can someone tell me something I can do, now, in order to prepare for a job such as this. What can I study now to get one up on everyone?

I am currently in an advanced math course, I will be taking Economics my Senior Year. I am in STUGO (Student Government) so I am not bad at speaking to people, but in suggestions on improving would be appreciated.

Thanks for Everything!

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answer from chinatrade114.com small business QA

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In the US - You need to be an employee of a Broker/Dealer so they can sponsor you in order to become a licensed stock broker.

Firms usually want college graduates, but it is not really necessary nor really a requirement but many firms like it and make it their requirement. Bank broker/dealers usually want all the sales reps to be college graduates.

Your college major is not important, (No courses in the Academic world prepares you to be a broker). But since your coming into the world of Finance, some of the more helpful majors would be Finance, Accounting, Economics or Statistics,

You should be good at math and have a decent idea about the stock market.

You should be good at selling, and it would help if you have an outgoing personality. So if you‘re good at sales, or have a good sales background in place of a college degree, you’re part way there.

Try to get with any major brokerage firm they will put you through an in-house training program, which is primarily getting you ready to take the necessary test for licenses. You will need a Series 7 which is a General Securities Brokers test, and a Series 6 which is just for state approvals.

Most brokerage firms, except bank B/Ds, will put you on salary and once you have passed the test, they will slowly take you off salary and put you on commission basis pay out. Banks will usually keep you on salary.

If you have your choice, you’re always better going to work for a regular B/D rather than a bank - You will learn, faster, better and the proper way of how the industry works. As a broker for a B/D you can always find another B/D that will hire you or at the worse, you can always work for a bank.

But if you’re Bank B/D trained and licensed, it’s very difficult to go work for a regular B/D

Here are some books for you to read

What Works on Wall Street by James O%26#039;Shaunessey

Beating the Street by Peter Lynch

One Up on Wall Street by Peter Lynch

The Warren Buffett Way by Robert Hagstrom

Mastering the Trade” by John Caster

How to Make Money in Stocks” by William O’Neil and 24 Essential Lessons for Investment Success both by William O’Neil

Here are some websites that will be a help to you

http://moneycentral.msn.com/home.asp

http://finance.yahoo.com/

http://www.investors.com/?tn=top

http://www.rookiedaytrader.com/default.a…

http://investorshub.advfn.com/default.as…

http://www.thestreet.com

http://www.brokerage101.com/

http://www.1source4stocks.com/

http://www.decisionpoint.com/TAcourse/TA…

http://stockcharts.com/

http://www.grahaminvestor.com/

http://www.thestreet.com/

http://www.morningstar.com/

http://www.dividenddetective.com/

Good luck, go try it, you may like it

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answer from chinatrade114.com small business QA

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Network. Join clubs and orgainzations. Student government is great training. Take speech and learn to be comfortable speaking to people and communicating verbally and in writing. Being a stock broker is about sales. If you can sell thats the most important part. No degree and no other experience necessary. Get a broker to hire you and get into their broker trainee program. They will teach you all you need to know to pass the required exams and get certified. Thats it.

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answer from chinatrade114.com small business QA

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You may want to start reading about stock investing and trading. Here you%26#039;ll find great articles by experts:

http://stock-trading-investment.bestmana…

http://portfolio-management.bestmanageme…

http://www.bestmanagementarticles.com/Se…

Hope these help in your success…

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answer from chinatrade114.com small business QA

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i have the same aspiration. u need a degree in finance.

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