How does one learn the skills to be a trader and a profit making one for that matter. Who is willing to mentor a young person or provide an opportunity to this career?. What’s the qualifications for this job??
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You have $10m to invest and can choose to buy goats or ducks. Goats thrive in thorny situations and ducks do well in times when money falls from the sky and sloshes around your feet. Bearing in mind the current economic situation, which would you choose? And how would you hedge against that choice?
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I understand the world looks at the financial markets as financial freedom, that’s for the institutions, reality is that only 8% make a minor profit, only 0.5% make a living wage which includes prop firms, and those are the ones who persevered. Getting $100,000s job, my background not long after grad school, usually needs an MBA and this is the baseline, effectively it will cost 10,000s to get to that level whether through an MBA or externally, the alternative most take is self-taught, you probably won’t hit breakeven before 5yrs.
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Self-taught is probably the best way forward. Lot of platforms also providing some paper trading account to start with
does include mentors with already tested strategies??? or you will be starting from scratch?
You have copy trading also called social trading depending on the platforms that are available. In this case you don’t do much beside being a passive copier, but you also won’t be able to learn much either
Realistically the ‘skills’ for a trading job aren’t as important as the mindset.
i.e. you have to be proactive, outgoing and willing to take risks. Anything you can do to show that off will be of value when applying to trading jobs. Specific skills can be valuable when applying to certain roles but you won’t make it past the interviews without those soft skills.
If you’re still a student or junior, start trading in your spare time. Experiment with different types. If you’re not a technical person, maybe see if AI coding tools could help you develop a trading algorithm.
Then, of course, reach out to anyone that seems interesting on LinkedIn or elsewhere. You’ll get ignored very often but if one good person responds to you it’ll be worth it.
Copy trading is cyclical, meaning if you get in and out at the right time it works but the strategies expire often after weeks or months, there are many hedge funds that outsource their trading like this and cycle the strategies.
Elliott Wave will get you to 80% of what you need but as I said, you need to be above 92%, trading is a lifestyle - you have to be calmer than the markets and its participants, it’s fun to learn but not fun to generate returns, if you’re not bored senseless then you’re doing it wrong.