Before you get too excited about the impressive income you can make as a foreign exchange trader, consider the lifestyle required of those who make their living trading currencies. The market opens at 5 a. Monday morning, Australia time, and closes at 5 p. Friday evening, New York time, and every trading desk you are likely to work on has work shifts trading constantly. You are paid to live a life that forex of either trading or sleeping and little else. Compensation consists of a base salary plus a bonus based on your years of trading at your firm and the trading profits you made during the bonus period. Compensation varies depending on your experience and the firm. Commodity and currency traders median wages, according to the U. Forex profitability and trading volume can make a big difference in your bonus. Wall Street compensation came under considerable scrutiny as a result of income credit crisis ofand future banking and securities industry changes may affect the way compensation is paid in the United States. Currency trading centers include New York, Hong Kong and London, with major trading firms located in other cities and significant futures trading taking place in Chicago. Depending on where you live, your day may start with arrival on the trading desk by 5: If you trade the Asian markets out of New York, your day may start at 4 p. One constant about work hours in this field is that 12 hours on the trading desk is not unusual. John McCarthy, managing director and head of foreign exchange trading at ING Capital Markets, LLC, describes the qualities necessary to be a currency trader as "someone with a very agile and open mind and a income with numbers who enjoys the pressure of taking risk and working in a time sensitive and risk sensitive environment. If you average have the educational credentials but can point to years of experience and a verifiable record of outstanding trading performance, you are also qualified. Although currency trading doesn't require securities licenses, many firms require that you pass the Series 3 National Commodity Futures Examination, 7 General Securities Representative and 63 Uniform Securities Agent State Law Examination given by the Financial Industry Regulatory Authority. The global nature of business means currency trading is a growing industry. The outlook, according to the Bureau of Labor Statistics, is for 15 percent growth between and Skip to main content. Salary Compensation consists average a base salary plus a bonus based on your forex of trading at your firm and the trading profits you made during the bonus period. Regional Comparisons Wall Street compensation came under considerable scrutiny as a result of the credit crisis ofand future banking and securities industry changes may affect the income compensation is paid in the United States. Contributing Factors John McCarthy, managing director and head of foreign exchange trading at ING Capital Markets, LLC, describes the qualities necessary to be a currency trader as "someone with a very agile and open mind and a facility with numbers who enjoys the pressure of taking risk and working in a time sensitive and risk sensitive environment. Career Outlook The global nature of business means currency trading is a growing industry. Paying Bankers Smartly FINS Finance: So You Want to Be a Foreign Exchange Trader Bureau of Labor Statistics: Securities, Commodities, and Financial Services Sales Agents Vault. Suggest an Article Correction. More Articles [Wall Street Day Traders] The Average Salary of Wall Street Day Traders [Commodity Trader] Commodity Trader Base Salary [Trading Firm] How to Prepare for a Job at a Proprietary Trading Firm [Stock Trader] How to Become an Independent Stock Trader. Logo Return to Top. Contact Customer Service Newsroom Contacts. Connect Email Newsletter Facebook Twitter Pinterest Google Instagram. Subscribe iPad average HoustonChronicle.
Can You Really Make Money as a Small Time Forex Trader?
Can You Really Make Money as a Small Time Forex Trader?
September 4, 2013 - Karnowski, Poland Drop EuroBasket 2013 Opener To Georgia.
After completing his chartered Accountancy in 1976, he did his Bachelors of Arts in Economics in 1979.He also completed his Bachelors of Law in 1980.