Want to be a Trader?

Week 4 – 2/11/2014Jake Walker

What you need to to know…

• Daily Work Routine

• Income

• Education & Training

Daily Work Routine

• Arrive at Office (7:00 AM)– Review previous day trades and

foreign markets

• Markets Open (8:00-9:30) – Work in open office spaces known as

trading rooms

• Markets Close (4:00 PM)• Traders Leave (5:00 PM)

• Traders are under constant stress• 4 Weeks of vacation a year is

common

Income (What We Really Care About)

• Income depends on the type of trading done

– options, stocks, or bonds– seniority – performance – employer

• Compensation – Salaried w/performance bonus– Purely based on commission

Income (cont.)

• KY Wages (Median)– Entry Wage $13.18 $27,420– Median Wage $21.03 $43,750– Experienced Wage $44.82 $93,220

• NY Wages (Median)– Entry Wage $37.43 $77,860– Median Wage $64.90 $134,980– Experienced Wage $90.00+

$187,200+

Education/Training

• Bachelors in Business, Finance, or related field

• MBA or masters in finance, mathematics, or economics

• Must pass industry examinations and become licensed

• Ivy League or elite school increases chances of employment

Conclusion: Are you fit to be a Trader?

• Are you afraid to admit you made a mistake?

• Can you remain calm despite

heavy losses?

• Do you have a passion for trading?

• Do you have a solvent bank account?