Trader
Introduction
If you ever thought about becoming a trader or even wanting to know more information about this job because you are interested. Then, this article is the one that you need. I will give information about the daily life of a trader, what he would be making in terms of money and other.
What is it like to be trader?
Being a trader can be very interesting if you're into mathematics and if you like giving hypothesis about the market and the changes that can occur. Those changes can give you opportunities to make a certain amount of money.
What do traders do?
In general, a trader buys and sells financial instruments to make a profit. Some use stock markets, other people use currency (Forex) or cryptocurrency like Bitcoin.
What do traders do on a typical day?
Traders have different types of days because it depends on what type of trader they are. They generally wake up early when the U.S market opens around 9 a.m. They check every movement that happens in the market, and they take action when there's an opportunity to make money.
Where do traders work?
Traders can work at their home, in an office or in a financial institution like a bank. Traders only need internet and a computer.
How can I become trader?
To become a trader you need to learn some concepts to understand how the market works and how to react to it. To understand these concepts, you will need to get a degree at a university. Employers will prefer someone with a university degree. The best undergraduate degrees to become a trader are Finance/ Business Administration, Economics, Computer Science and Statistics or Applied Mathematics, Engineering, Physics.
How much money do traders make?
The average salary of a trader that works in a company is around $65 000 per year in Canada. Traders that are self-employed have a revenue that depends on how good they are. If they make a lot of good actions, they will make a lot of money. By trading, there is no limit on the revenue that you can make by trading.
What kinds of additional training do traders need?
To become more efficient, traders can apply for a trainee ship in a financial institution. That can help traders gain more experience and skills in their field of work. Traders with experience have more chances to find a good job, because there's a lot of competition between traders.
What are the dangers of being trader?
The danger of being a trader is that you may lose a lot of money if you're not careful enough. Losing money by trading is very easy, because the market is very volatile, there are huge price fluctuations.
What are the chances that traders will be replaced by robots soon?
There's a big chance that traders will be replaced by robots because everything that traders use to work is done on a computer. Robots can then be programmed to react to certain changes on the market. The human brain is still better than robots for now.
What age do traders retire at?
Traders retire at a pretty young age, at around 30 years old because the job is very demanding and stressful.
Conclusion
All things considered, becoming a trader is not easy, but it is a nice job depending on what you like. For my part, I have been accepted to HEC Montreal and I'm following business administration. After my first two years, I want to go in Finance and hopefully become a trader.
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Glossary link: https://youssefboussaada.blogspot.com/2021/02/commerce-glossary.html
Screencast link: https://www.youtube.com/watch?v=SAKnxU5K2z8
Sources and RADARS ratings
Source: https://ca.indeed.com/career/trader/salaries
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Date: still relevant
Accuracy: probably true
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Source: https://www.investopedia.com/articles/active-trading/041415/best-undergraduate-degrees-day-traders.asp
Rationale: to inform or educate
Authority: recognized author
Date: recently published
Accuracy: probably true
Relevance: relevant for this document
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