I want to learn to trade stocks, do I need a certificate?
djostl asked:
What is the best way to learn to trade stocks? Do I need a formal education or can I do this on my own?
I am deciding on a college? If you think college is best, which degree program?
What is the best way to learn to trade stocks? Do I need a formal education or can I do this on my own?
I am deciding on a college? If you think college is best, which degree program?
You do not need any formal training to trade stocks on your own.
Do an internet search for “trading stocks”, “investing basics”, “trading basics”, etc.
There’s plenty of information on the net that tells how to do it.
I do not think a college degree matters, though familiarity with the terms of finance and economics can be very important. The thing about trading stocks is that it’s more about psychology than methodology.
People mistakenly think winning in the stock market is all about finding some “secret” piece of information — the old “hot tip” — or analyzing reams of data. But the best analyst can be — and usually is — a poor portfolio manager; it’s all about psychology when your money is at stake. I suggest you start with a book like “Investment Psychology Explained,” by Martin Pring and think about your own emotional make-up before pursuing any more formal educational program.
No, many people trade stocks without a special education. If you want to do it professionally, like working at a firm, you would probably need a good education. I would guess the Ivy League schools would be preferable on your résumé.
However, I wouldn’t just throw my money into the market, if I were you. I would make a fantasy portfolio at sites such as virtualstockexchange.com, hedgestop.com, or simulator.investopedia.com
If you want to trade stocks for yourself, you do not need a certificate. You can get books at the library, take a community college course, watch CNN - then take a small step with a good stock, then another… if you want to trade stocks for other people, a good knowledge of finance would be helpful, and you also have to pass an exam called the NASD Series 7, which is pretty complicated. Generally a company that wants you to work with them will sponsor you for the exam.
Well you should get an degree in finance and accounting, and then work towards getting a CFA designation, which is a chartered financial analyst designation.
Trading in stock doesn’t require a degree. But dealing with money does require knowledge of the market and some experience and keeping up with the market.
An easy way to start teaching yourself and learning from your mistake is to use a stock simulator where you use virtual money and won’t be sorry your stocks go down. One that I especially like is , it allow you to manage 10 different portfolio and it include cash contests for the best investor.