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being a broker
- Thread starter Tuneman
- Start date
Quote from FREElunch:
brokers are not traders
that is why brokers can't teach you to be good trader
no don't waste time selling cars, I mean stocks.
spend time learning to trade using technicals
good luck
This is totally true. You can study the series 7 info which might help you understand the markets better in the beginning but brokers are glorified salesmen. You will be a high priced telemarketer.
Quote from Tuneman:
I have the oppurtunity to become a broker, or at least work at a bank in their securities department. Its not one of the huge international banks, but they are big in my state.
Is this a good start if my goal is to become a trader at an investment bank?
"I have an opportunity to work at a sports car dealership. It's not a huge dealership, but they have a number of lots throughout the state.
Is it a good start if my goal is to become a formula one driver to work as a car salesman?"
Give him a break. It's a competitive industry to get into, and if you're not on the inside a lot of the positions seem to mesh together in one way or another.
If being a broker is something you wouldn't mind doing then I'd say go for it, if it's between that or working at McDonalds or something. You can try to make connections while learning more about the markets. If you're relatively young(unlike the geezers on here giving you shit for asking advice) then you have plenty of time to find out what you really want to do and make a transition. Good luck.
If being a broker is something you wouldn't mind doing then I'd say go for it, if it's between that or working at McDonalds or something. You can try to make connections while learning more about the markets. If you're relatively young(unlike the geezers on here giving you shit for asking advice) then you have plenty of time to find out what you really want to do and make a transition. Good luck.
Quote from Drew07:
Give him a break. It's a competitive industry to get into, and if you're not on the inside a lot of the positions seem to mesh together in one way or another.
If being a broker is something you wouldn't mind doing then I'd say go for it, if it's between that or working at McDonalds or something. You can try to make connections while learning more about the markets. If you're relatively young(unlike the geezers on here giving you shit for asking advice) then you have plenty of time to find out what you really want to do and make a transition. Good luck.
I don't think anyone here is knocking being a broker; there's nothing particularly wrong with that if you like being a salesman. If he wants to be a trader, though, being a broker will just be a delay - especially if he wants to be on a bank's desk. Being a broker to save up money to trade for your own account or trade prop might make sense, but being a broker to gain experience and be allowed onto a desk as a trader is analogous to selling cars in hopes of becoming a race car driver.
Quote from Drew07:
If you're relatively young(unlike the geezers on here giving you shit for asking advice) then you have plenty of time to find out what you really want to do and make a transition. Good luck.
thanks. No I do understand the difference between two different professions, and I am fresh outta college.
Its just that I applied to a lot of the big banks, but since they usually hire 1 year ahead of time, I'm kinda screwed by getting in that way. None of those guys are calling me back.
Its just my options are running thin, so I figured I'd ask even though I knew the response.
Take the job. Everyone has to start somewhere. No one ever starts at the 'top' unless daddy owns the company.
I think any experience can be valuable and you can always learn something. Even if you only learn one thing, you're a better person for it.
Take the job, keep learning and keep pushing.
I think any experience can be valuable and you can always learn something. Even if you only learn one thing, you're a better person for it.
Take the job, keep learning and keep pushing.
I started out as a broker straight out fo college for a large firm. it IS sales...and sales is something VERY VERY important to learn. IF you want to make it in the securities business (brokerage, trading, whatever) you want to be on the front lines. the "front lines" are the guys that make money for the company.
I think a better way to start would be a "traders asistant"..but a broker is not all that bad. you NEED to learn how to sell..and learn the sales side of the business. Institutional sales is better than reatil if you can get it. better connections.
By the way...after being a reatil broker for 2 years...i went on to be a trader...and now i have a fund. so you CAN do it. but i happend to really love this business...and i think that is #1 factor.
I think a better way to start would be a "traders asistant"..but a broker is not all that bad. you NEED to learn how to sell..and learn the sales side of the business. Institutional sales is better than reatil if you can get it. better connections.
By the way...after being a reatil broker for 2 years...i went on to be a trader...and now i have a fund. so you CAN do it. but i happend to really love this business...and i think that is #1 factor.
Great points from dac! I was a broker straight out of college as well - there for 4.5 years - and now a trader.
Starting as a broker is not a bad gig at all, just understand what you are getting into.
Starting as a broker is not a bad gig at all, just understand what you are getting into.