How to Make a Career in the Stock Market?
The stock mark has intrigued people for walks of life, which perhaps explains the low participation in comparison to other countries. However, with time, the stock market significance is slowly fading away and the tags are being shed away because of the risk associated with it. With an increase in public participation in the economic growth in India, the non-financial sector is bound to forest even faster growth than what it is already experiencing.
With the rapid growth, we will see in the unpredictable future, there will be a large demand for skilled professionals in the stock market. Nevertheless, one can never forget that the stock market is much more than just picking up stocks or making money.
Instead, a stock market is a multi-faced domain where people are willing to enter and must gratify the challenges experienced in their career. In this post, we will discuss what it takes to become a successful trader in the stock market. Here are 8 tips on essential skills you need to start a career in the stock market.
- Passion: Yes, you need to have that aspirant to become a smart trader. It goes without saying that you need to be passionate about share market trading for Beginners. Without passion, you cannot go fizzle out in the market. This process requires inevitable research, learning, and improvement with time.
- Extreme integrity: Share market trading for beginners required to manage the money of clients. The role comes with serious responsibility and ethical integrity towards managing clients’ portfolios. The market is regulated by the Securities Exchange Board of India (SEBI) which is responsible to audit each transaction. Thus, a trader needs to ensure to follow guidance issued by the SEBI.
- Long-term planning: Trading is not just about buying or selling of stocks. It is much more than. Within the stock market, you can choose a variety of work profiles like broking, distribution, wealth management, financial planning, asset management, research and more. But you must have a simple idea in which domain you are interested to pursue a career that will make you make a smarter choice in your career.
- Deciding what you want: Choosing something that appeals to your personality is better than not knowing what to do. Once you enter the stock market, it is important to understand that for a specific business to work beside a research team you need efficient mentor guidance. The plethora of opportunities are waiting for you in the stock market, but you need to have a plan so you know where you want to go.
- Become a subject matter expert: Now that you know that you want to become a stock trader, it is time to do some fieldwork. A relevant NISM or NCFM certification adding up to your qualification will set you apart from the competition. It is crucial to obtain a certification to get a job. SEBI has mandated aspiration to qualify these certification exams as a minimum benchmark to work.
- Read and research more: Whether you take up the case of top trade like Warren Buffett, Ramdeo Agarwal or Rakesh Jhunjjhunwala, each one of them have one thing in common that is the habit of continuous learning. They all are avid readers and seek for continuous guidance to upgrade their knowledge. Reading newspapers and keeping yourself up to date with the market upcoming news and events will help you find profitable stocks.
- Get a certification: If you are looking for a job as an investment advisor, mutual fund advisor, or research analyst, you must contain certificates to depict your seriousness towards a vocation. You can also pursue higher students like CA, BBA, BCom, MBA, CFA etc to your profile that will add credibility to your profile.
- Find a mentor: It is always convenient to find guidance from an experienced trader. In the stock market, not the best trader can make accurate predictions. It is a career which is unpredictable. Having a right mentor can help you rise above all situations and therefore can help you cope up with challenging situations.
Exploring Career in Stock Market
The financial markets in India are in the growth phase, and there is a need for trained professionals, the industry is running out of talented individuals and young minds, the industry needs much more professionals than it currently has. Most of the available talent pool does not have a specialisation or proper understanding of capital markets and we need to bridge this gap.
The stock market is getting bigger every day and opportunities for employment in the stock market are growing rapidly. It is a place full of enormous opportunity and people from all backgrounds, whether science, commerce or humanities, are showing a lot of interest in pursuing their career in the stock markets.
The market has the potential to offer career opportunities from an entry-level position like Equity Advisor or Relationship Manager to the setting up Entrepreneurial Venture through offering services like Registered Investment Advisors, market intermediaries, useful platforms which provide key information for market participants, etc.
Does share trading excite you? Do you plan to make living out of it? If you are passionate about NIFTY, SENSEX etc then this is the best career dream for you. But you should know that the stock market has diverse faces. People from different backgrounds are willing to enter the market for this challenging career. The stock market is a vast subject and plays an important role in world economic development.
Educational qualification required:
- Getting a certification from a reputed stock market institute allow you to explore different avenues
- Certification from NISM or NCFM is nationally recognised to get a job in the market for various professionals in the stock market in India.
Anyone with basic knowledge of the market can attend those affordable certifications. - Certifications in NISM or NCFM are nationally recognised in different job profiles.
The Bottom Line
The Indian education system has sidelined capital markets as a subject altogether. This one of the reasons why most of the students are not conscious of the prominent and elite career opportunities present in the scope of the stock markets.
In the recent decade, a shortage of trained professionals in the financial market has prompted the need for specialised professionals in various verticals ranging from stock traders to venture capital analysts.
To conclude, a career in the stock market is like reading a book by its cover. If you are planning to pursue a career as a share trader then you must educate yourself. Research for different options available for you before making a choice. You are required to put in hours to develop a strong understanding of the market you are about to enter. You can predict what’s inside the book without reading it yourself. Online ones with the right attitude can cherish the time spent and grow successfully