Learning to be a Stockbroker
To become a stockbroker you must be competitive and have a keen sense of the business world. Stockbrokers' don't suddenly arrive this way, they must be naturally tough and have the ability to work under stress. In other words, potential stockbrokers who is knocked down will immediately get back up and try again.
This is the kind of individual that will make agood stock broker. They can take the losses but they prefers not to lose and they work at seeing these are minimal. In addition to that they haveto learn, and it helps if they started dabbling around in the stock market while in high school.
Ask any seasoned stockbroker their secrets and they'll answer, just pass the tests. The tests here are formalized tests given by experts; but implied here are a series of conditions and tests and examinations that one goes through in order to become a registered broker.
The first and second step a future stock broker must take is to be interested in selling as well as being somewhat of a gambler. Maybe this comes about because they admired a family member, a neighbor who is a Wall Street broker. The idea of being that keen and observant about their business world appeals to them in some way. They dabble and they plan, while in high school, to become a broker. Toward that goal they took all the math and business courses available.
The third step caused the successful stockbroker to get a good education. While at the university or business college or wherever, they got a degree in economics, or finance or whatever was available at their school. In fact, the smartest move in their preparing for work as a stockbroker was planning for it in high school. They had to learn all about the world of selling. Selling stock is not a great deal different from selling tangible items so a cross over is not difficult.
After finishing college they will probably sign on with some brokerage. And while they are waiting to become registered, the parent firm will l most likely test test them and several others to see who has the most stamina and who will last and who will not last. They will not mind having new graduates around learning the ropes while in the process of becoming a full fledged broker. The turnover is great, according to one on-line source.
It is a competitive field and not all will last. The test that will label you a broker is a series seven examination (General Securities Registered Representative Examination) and is given by theNASD(National Association of Securities Dealers)
There's more: Many states require that stockbrokers pass two additional tests, the series 63 and series 65 exam. These are respectively: Uniform Security Agents State Law Examination and the Uniform Investment Advisor Examination.
That's all there is to being a stock broker. That and finding the right place to ply the trade and while there being able to withstand the strenuous work environment. That should not be a problem for those who thrive on competition. It's never a good idea, however, to put selling above integrity. It is good to win and to sell and to become successful, but not nearly as good as being able to put it all aside and forget about it for long stretches of time. Your health and your business may depend on it.
