Posted by forex at 7:58 AM
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1. Familiarize yourself with each major currency and its corresponding contract size. Actively traded currencies include the U.S. Dollar, the Euro, the Japanese Yen, the Canadian Dollar, the Australian Dollar, and many others.
2. Find companies hiring currency traders. These include established brokerage firms, boutique currency firms, FOREX firms, and hedge funds. Many are willing to hire trainees and teach them the business. Search your local newspaper and job resources, and search the Internet for firms that are hiring.
3. Pass the Series 3 exam. If your chosen career path includes trading exchange-traded currencies, you will need a Series 3 license. The test is 120 questions and lasts two and a half hours. Currency trading is actually a small part of the test, and passing the Series 3 enables you to trade any commodity futures or options contracts.
4. Join the training program of your chosen employer. You will not make much in training; probably less than minimum wage if you break it down on an hourly basis. Hang in there -- the big money comes later if you know what you're doing.
5. Trade for profit. The more money you make for your firm and your customers, the more money you will make!