Could you be a Wall Street Wolf?

Fancy the high-paced world of trading? Think you can give the Wolf a run for his money? Did you know that all you need is a computer and access to the market in order to become a ‘wolf’?

Fancy the high-paced world of trading? Think you can give the Wolf a run for his money?

In 2013, online job searches for ‘stockbroker’ and trader positions rose by a whopping 80% in the US following the release of the Leonardo Di Caprio blockbuster The Wolf of Wall Street. Many claim the inspiration for their career choice was based on a film character, and this Indeed.com survey certainly backs that.

Did you know that all you need is a computer and access to the market in order to become a ‘wolf’? A trader, or stock broker (the two terms can be used interchangeably), make deals by buying and selling stocks on the market, with the aim to make the biggest profits possible. In South Africa the market is the Johannesburg Stock Exchange, or JSE.

The professional life of a trader is a dynamic and often stressful one, but can be very rewarding financially. Performance and success is measured by results. You will earn commission on the trades you make (which means there is no limit on your potential income!).

If you have a background in financial, quantitative or mathematical subjects from your high school and university studies you should be equipped for a trading career. Helpful subjects include economics, statistics, finance, maths, physics and engineering.

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Personality is key though. As a trader, you will need to have the ability to react quickly to a number of factors, manage and be accountable for a yearly budget, and have a strong sense of self-regulation. Good traders need a combination of competitiveness, attention to detail, good analytical ability, and tolerance for risk as well as learnt skills in economics, finance and experience in trading the markets.

Trading offers an unrestricted career. Women currently only make up ten percent of traders, so it still is a male dominated environment. Traders are also normally relatively young. Likely career paths for those in this field include options to move into fund management, hedge fund trading or possibly a management career within a bank trading environment.

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Trading is a specialised career and you may end up working in one product area for many years. This will allow you to build up experience and skills in a specific area, enabling you to become an expert in your field.  

The life of a ‘wolf’ isn’t sounding as glamorous as that depicted in the movies anymore, is it? Trading is still an exciting option with excellent prospects for anyone looking to get involved in the financial markets. And who knows, with some hard work you might just (ethically) make as much money at the original ‘Wolf’…  

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Photo Credit: Paramount Pictures