4 answers
Eddie
Student
Riverside, California
1
Question
Asked
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How would I get started stock trading and which degrees can I get?
How would I get started with stock trading Hi Im Eddie I’m a senior in High School and want to pursue getting a degree and career in stock trading to make my own business out of it
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4 answers
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity.
3916
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Dear Eddie,
Quickly Amassing Wealth Online Within a Month
While the aspiration to amass wealth online within a mere month is a lofty one, given the usual timelines associated with wealth creation, there are a few tactics you could employ to potentially boost your earnings in a short span. It's crucial to bear in mind that these strategies carry risks and don't offer guaranteed immediate success.
1. High-Demand Freelance Work: A potential avenue for swift, substantial online earnings is freelancing in fields with high demand, such as programming, digital marketing, graphic design, or writing. Platforms like Upwork, Freelancer, and Fiverr connect you with clients across the globe. By cultivating a robust portfolio and consistently delivering top-quality work, you could land lucrative projects.
2. E-commerce and Dropshipping: Launching an e-commerce venture or participating in dropshipping could also serve as pathways to swift online earnings. Services like Shopify let you establish an online store and sell products without maintaining an inventory. With the right marketing tactics and product choices, you could start seeing profits in a short period.
3. Stock or Cryptocurrency Investments: While investing in stocks or cryptocurrencies involves inherent risks, it also offers the possibility of high returns quickly. However, this requires a solid grasp of market trends, risk management strategies, and constant investment monitoring. Day trading or swing trading could be more active methods for those seeking rapid gains.
4. Online Courses and Consulting: If you possess expertise in a specific area, creating and selling online courses or offering consulting services could prove profitable. Platforms like Udemy or Teachable help you share your knowledge with a broad audience. Offering valuable insights and solutions can draw in paying customers eager to invest in your expertise.
5. Affiliate Marketing: Affiliate marketing entails promoting products or services via unique links and earning commissions on sales made through your referrals. By utilizing social media platforms, blogs, or high-traffic websites, you could potentially earn a significant passive income in a short period if done effectively.
While these tactics could potentially generate swift online earnings, it's vital to approach them with caution and realistic expectations. Sustainable wealth creation typically demands time, effort, and ongoing learning. Keep in mind that financial success is usually the product of long-term planning and consistent effort, not quick fixes.
Top 3 Credible Sources Used:
Forbes: A globally recognized media company, Forbes specializes in business, investing, technology, entrepreneurship, leadership, and lifestyle topics, providing expert insights into wealth creation strategies and financial advice.
Entrepreneur: As a leading publication in entrepreneurship, small business management, and innovation, Entrepreneur offers valuable resources on establishing businesses, growing wealth, and achieving financial success.
Investopedia: A reliable source for financial education and investing information, Investopedia offers comprehensive guides on various investment strategies, market trend analyses, and personal finance tips for individuals seeking wealth accumulation opportunities.
May God bless you!
James Constantine Frangos.
Quickly Amassing Wealth Online Within a Month
While the aspiration to amass wealth online within a mere month is a lofty one, given the usual timelines associated with wealth creation, there are a few tactics you could employ to potentially boost your earnings in a short span. It's crucial to bear in mind that these strategies carry risks and don't offer guaranteed immediate success.
1. High-Demand Freelance Work: A potential avenue for swift, substantial online earnings is freelancing in fields with high demand, such as programming, digital marketing, graphic design, or writing. Platforms like Upwork, Freelancer, and Fiverr connect you with clients across the globe. By cultivating a robust portfolio and consistently delivering top-quality work, you could land lucrative projects.
2. E-commerce and Dropshipping: Launching an e-commerce venture or participating in dropshipping could also serve as pathways to swift online earnings. Services like Shopify let you establish an online store and sell products without maintaining an inventory. With the right marketing tactics and product choices, you could start seeing profits in a short period.
3. Stock or Cryptocurrency Investments: While investing in stocks or cryptocurrencies involves inherent risks, it also offers the possibility of high returns quickly. However, this requires a solid grasp of market trends, risk management strategies, and constant investment monitoring. Day trading or swing trading could be more active methods for those seeking rapid gains.
4. Online Courses and Consulting: If you possess expertise in a specific area, creating and selling online courses or offering consulting services could prove profitable. Platforms like Udemy or Teachable help you share your knowledge with a broad audience. Offering valuable insights and solutions can draw in paying customers eager to invest in your expertise.
5. Affiliate Marketing: Affiliate marketing entails promoting products or services via unique links and earning commissions on sales made through your referrals. By utilizing social media platforms, blogs, or high-traffic websites, you could potentially earn a significant passive income in a short period if done effectively.
While these tactics could potentially generate swift online earnings, it's vital to approach them with caution and realistic expectations. Sustainable wealth creation typically demands time, effort, and ongoing learning. Keep in mind that financial success is usually the product of long-term planning and consistent effort, not quick fixes.
Top 3 Credible Sources Used:
Forbes: A globally recognized media company, Forbes specializes in business, investing, technology, entrepreneurship, leadership, and lifestyle topics, providing expert insights into wealth creation strategies and financial advice.
Entrepreneur: As a leading publication in entrepreneurship, small business management, and innovation, Entrepreneur offers valuable resources on establishing businesses, growing wealth, and achieving financial success.
Investopedia: A reliable source for financial education and investing information, Investopedia offers comprehensive guides on various investment strategies, market trend analyses, and personal finance tips for individuals seeking wealth accumulation opportunities.
May God bless you!
James Constantine Frangos.
Damion Freeman
Tax Accountant
16
Answers
North Port, Florida
Updated
Damion’s Answer
Hello Eddie,
Securing a degree in Finance is a significant step towards your dream of becoming a stockbroker. In fact, you can kickstart your journey right away by engaging in small-scale investments through user-friendly apps like E-Trade, Robinhood, and other similar platforms.
However, it's crucial to note that as a small-scale investor, the safety nets are often limited. While high-risk investments might promise greater returns, remember that they also carry the potential for significant losses. It's all about striking a balance between risk and reward.
Keep in mind that most investment firms profit from both buying and selling, so the outcomes for individual investors like us may not always be their primary concern.
But don't let this deter you. Forge ahead with confidence and caution, and remember, every step you take is a step closer to your goal. Wishing you the very best on this exciting journey!
Securing a degree in Finance is a significant step towards your dream of becoming a stockbroker. In fact, you can kickstart your journey right away by engaging in small-scale investments through user-friendly apps like E-Trade, Robinhood, and other similar platforms.
However, it's crucial to note that as a small-scale investor, the safety nets are often limited. While high-risk investments might promise greater returns, remember that they also carry the potential for significant losses. It's all about striking a balance between risk and reward.
Keep in mind that most investment firms profit from both buying and selling, so the outcomes for individual investors like us may not always be their primary concern.
But don't let this deter you. Forge ahead with confidence and caution, and remember, every step you take is a step closer to your goal. Wishing you the very best on this exciting journey!
Zachary Blanchette
accounting
1
Answer
Tampa, Florida
Updated
Zachary’s Answer
Hello Eddie! It's fantastic to know that you're keen on exploring a career in stock trading and investment opportunities. Here's a guide to help you kick-start your journey:
Educational Background: Although there's no specific degree required to be a stock trader, having a solid educational foundation in fields like finance, economics, or business can be advantageous. You might want to consider obtaining a bachelor's degree in these areas to build a robust knowledge base. While a master's degree or higher isn't strictly necessary, it could prove beneficial if you aim to run a business eventually.
Self-Study: Begin by familiarizing yourself with the stock market and trading tactics. You can do this by reading books, taking online courses, and staying updated with trustworthy financial news sources. This will help you grasp the fundamentals of stock trading, technical analysis, risk management, and fundamental analysis.
Virtual Trading Practice: Before you start investing real money, it's advisable to practice on virtual trading platforms that mimic actual market conditions. These platforms allow you to test trading strategies and gain experience without risking your funds. They are commonly used in undergraduate studies for finance or accounting majors.
Opening a Trading Account: When you feel prepared and ready to trade with real money, open a trading account with a reliable brokerage firm like etrade or think or swim. Make sure to compare different brokers to find one that best fits your needs in terms of fees, research tools, and customer service.
Creating a Trading Plan: Develop a trading plan that clearly defines your goals, risk tolerance, and strategies. This plan will serve as your roadmap, guiding your decision-making process and helping you stay disciplined.
Starting Small: It's wise to start by investing a small sum of money that you can afford to lose. As you gain more experience and confidence, you can gradually increase your investment.
Continuous Learning and Adaptation: The stock market is always changing, so it's crucial to stay current with market trends, news, and new trading strategies. Participate in seminars, webinars, and workshops to continually enhance your knowledge and skills.
Keep in mind that stock trading comes with risks, and it's important to approach it with caution and effective risk management. It may be beneficial to consult with a financial advisor or mentor who can offer guidance throughout your journey. Best of luck!
Educational Background: Although there's no specific degree required to be a stock trader, having a solid educational foundation in fields like finance, economics, or business can be advantageous. You might want to consider obtaining a bachelor's degree in these areas to build a robust knowledge base. While a master's degree or higher isn't strictly necessary, it could prove beneficial if you aim to run a business eventually.
Self-Study: Begin by familiarizing yourself with the stock market and trading tactics. You can do this by reading books, taking online courses, and staying updated with trustworthy financial news sources. This will help you grasp the fundamentals of stock trading, technical analysis, risk management, and fundamental analysis.
Virtual Trading Practice: Before you start investing real money, it's advisable to practice on virtual trading platforms that mimic actual market conditions. These platforms allow you to test trading strategies and gain experience without risking your funds. They are commonly used in undergraduate studies for finance or accounting majors.
Opening a Trading Account: When you feel prepared and ready to trade with real money, open a trading account with a reliable brokerage firm like etrade or think or swim. Make sure to compare different brokers to find one that best fits your needs in terms of fees, research tools, and customer service.
Creating a Trading Plan: Develop a trading plan that clearly defines your goals, risk tolerance, and strategies. This plan will serve as your roadmap, guiding your decision-making process and helping you stay disciplined.
Starting Small: It's wise to start by investing a small sum of money that you can afford to lose. As you gain more experience and confidence, you can gradually increase your investment.
Continuous Learning and Adaptation: The stock market is always changing, so it's crucial to stay current with market trends, news, and new trading strategies. Participate in seminars, webinars, and workshops to continually enhance your knowledge and skills.
Keep in mind that stock trading comes with risks, and it's important to approach it with caution and effective risk management. It may be beneficial to consult with a financial advisor or mentor who can offer guidance throughout your journey. Best of luck!
Nicholas Teodori
Product Management
1
Answer
San Francisco, California
Updated
Nicholas’s Answer
What type of "stock trader" are you aspiring to be? Are you aiming for a career in investment banking or private equity, or do you simply want to engage in day trading stocks during your free time? The guidance for each path varies greatly.
If you're interested in investment banking or private equity, you'll typically need to excel in finance, economics, or another business-related field at a top-tier university, and have at least one successful internship experience. These careers offer high salaries but require a significant time commitment. If you can secure a position and maintain your performance, you'll earn a substantial income. Alternatively, you could consider less prestigious but also less demanding roles such as financial advisor or financial analyst. These positions allow you to work in finance without it consuming your entire life.
On the other hand, if you're leaning towards day trading, a basic understanding of finance and economics will definitely be beneficial. You should familiarize yourself with key data points related to public stocks, such as P/E ratios, market cap, EPS, dividends, etc. As a day trader, you'll often aim to profit from market fluctuations through methods like puts, options, etc. There are numerous online forums and guides to help you learn how to utilize these tools. However, be aware that this route comes with inherent risks. While some investors make substantial gains from well-timed moves, you could also face significant losses. Markets are notoriously unpredictable, and sentiment often influences larger shifts than actual economics. Employing a range of strategies with varying risk levels is crucial to generate steady returns and shield yourself from abrupt market changes.
If you're interested in investment banking or private equity, you'll typically need to excel in finance, economics, or another business-related field at a top-tier university, and have at least one successful internship experience. These careers offer high salaries but require a significant time commitment. If you can secure a position and maintain your performance, you'll earn a substantial income. Alternatively, you could consider less prestigious but also less demanding roles such as financial advisor or financial analyst. These positions allow you to work in finance without it consuming your entire life.
On the other hand, if you're leaning towards day trading, a basic understanding of finance and economics will definitely be beneficial. You should familiarize yourself with key data points related to public stocks, such as P/E ratios, market cap, EPS, dividends, etc. As a day trader, you'll often aim to profit from market fluctuations through methods like puts, options, etc. There are numerous online forums and guides to help you learn how to utilize these tools. However, be aware that this route comes with inherent risks. While some investors make substantial gains from well-timed moves, you could also face significant losses. Markets are notoriously unpredictable, and sentiment often influences larger shifts than actual economics. Employing a range of strategies with varying risk levels is crucial to generate steady returns and shield yourself from abrupt market changes.