Posted by forex at 3:52 AM
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1. Obtain an advanced degree from a leading business school. An MBA or a similar program is a stepping stone to a money managing career.
2. Get hired by a financial institution that manages foreign exchange accounts. Such institutions include investment banks, hedge funds and brokerage houses. Ideally, you would want to get a position as an FX account manager. You can accept more junior positions, however, if there is a real chance of you being promoted to the desired job.
3. Deepen your knowledge about managing forex accounts. Read forex literature extensively. Also subscribe to analytical reports about the foreign exchange market from Bloomberg, Thomson Reuters or other news providers.
4. Devise your own trading strategy. A trading strategy is a set of rules or guidelines that a trader follows to deliver a speculative profit. Make sure the organization that you work for and the clients whose money you mange approve of your FX management strategy.
5. Calculate the risks of your trading strategy. Not infrequently, exceptional returns signal excessive risk taking and, accordingly, should be received with caution. Submit your trading strategy to the risk management department of your financial institution for risk analysis and approval.
6. Buy and sell currencies in the interbank foreign exchange market, following your trading strategy as closely as possible.