[timsingapore]

I am determined to be a stocks trader as my life-time career,but recently I am wondering should I go and become a stocks broker to know more about the business of trading.Some of my friends say I should,because they think there's no better way than getting to "ground zero" and understand the stuff which I agree as well. However, from what I know about the job of brokers is they are mainly executing the client's orders and not so much involving trading.I am confused and really don't know would it really help my career.

Please advise.
Thank you!

[wwalker126]

Hi timsingapore,

If you are a stock "broker" than you would have the ability to fill clients orders in hope to make a small percentage either with commissions, fees and or stock price movements. Nevertheless, you could also do personal trading on the side. Nowadays, its not an impossible dream to trade stock personally through online trading accounts (ameritrade, scott trade, etc). I am a firm believer that the best way to learn is through personal experience and as well as the lessons you learn from other's experiences. Whether you go at it alone or decide to take classes and study to be a stock broker; either way you must become a diligent student. It won't be easy and expect to take losses early until you have a well defined enter and exit trading strategy.

*Good Luck on your next trade*

[MightyMouse]

Originally Posted by timsingapore »

I am determined to be a stocks trader as my life-time career,but recently I am wondering should I go and become a stocks broker to know more about the business of trading.Some of my friends say I should,because they think there's no better way than getting to "ground zero" and understand the stuff which I agree as well. However, from what I know about the job of brokers is they are mainly executing the client's orders and not so much involving trading.I am confused and really don't know would it really help my career.

Please advise.
Thank you!

If you become a stock broker, you are 100% in sales. Your manager will likely take your chair away from you if he sees you doing anything other than making phone calls. When you start you have no clients to make trades for so it is call, call call. Maybe in 2-5 years when you have built a book of business and specialized in one area of the other you can think about being allowed to trade your own account, but at that point you will be making far more money as a broker than you likely ever will traing your account.

If they do let you trade your account, it's a poorly run office and neither you nor they will survive for long as brokers. If you do not want to sell, do not bother.

I have been a broker since 1988.

[Tradewinds]

My ex-wife became a broker with Edward Jones. The office failed after 2 years. I agree with Mighty Mouse, that it is all about sales. Being a broker is not necessarily going to make you a good investor or a good trader. Sure, you will have resources available to you, and you will learn a lot about the industry. But you won't learn anything about trading. As a broker, you will need to be able to execute trades, but that won't make you a trader.
To be successful either way you go, you need time and money. 90% to 94% of all traders fail. My opinion is, that you need about 3 years and enough money to get you through those 3 years. It's not that people are not capable of being brokers or traders, but most of them run out of time and money before they reach success.
If you can get a broker to sponsor you, and you pass your licensing test, it might not be a bad experience no matter what happens. If you do become a broker, location is everything. You must be able to integrate with the community and relate to them very closely.
There is a failure rate and a certain amount of risk in anything we do. Do what fits you and what you like doing.

[timsingapore]

To Tradewinds,MightyMouse and wwalker126,I really appreciate all the helpful advices. Thanks a lot!!

[wwalker126]

I'm glad I was able to give you some insight. Remember to spread the knowledge. An inexperience person will never remove the "i-n" without applying what the basic fundamentals of the experience.

*Good luck on your next trade"

[robertm]

Originally Posted by timsingapore »

I am determined to be a stocks trader as my life-time career,but recently I am wondering should I go and become a stocks broker to know more about the business of trading.Some of my friends say I should,because they think there's no better way than getting to "ground zero" and understand the stuff which I agree as well. However, from what I know about the job of brokers is they are mainly executing the client's orders and not so much involving trading.I am confused and really don't know would it really help my career.

Please advise.
Thank you!

I think every trader has this thought at some stage Tim, I know I put the same question to my mentor many years back (he's a former broker, stupid idea he said), but finding a less stressful source of income that lets you be free to trade when you want, and how you want, while paying the bills so your account can compound without you drawing it down, is the best solution.

Just stick at it, gaining experience in different market conditions is one of the keys, and only time can open that door for you.

[Snow Dog]

If you're going to trade stocks then I'd suggest you get real good at trading vsa set ups. Volume spread analysis, theres also good info on this from e-mini trading, you'll have to search as its a pay product (well some stuff is free) and I can't advertise it here.

Anyway the point is get good at volume and candle analysis.