Skills of a trader

What Skills Are Required For a Securities Trader?
As a securities trader, there are certain skills and traits you will need in order to be successful in this career. Not everyone is made to be a securities trader. Those who are successful have a certain drive and also personality that make them unique and stand out. Keep reading to find out what skills successful securities traders have.
• Excellent customer service skills. You never want a client to feel uneasy giving you their financial portfolio. You must be able to establish a level of trust and make them feel comfortable. Be personable but also professional at the same time. It’s a delicate balance but it is possible to achieve. You want your clients to feel comfortable explaining their objectives and goals, that way you can provide them the best possible service.
• Marketing skills. Along with providing clients with the services that they originally came in for, it would work to your advantage to be able to “upsell” the services. Of course upselling does come with some cautions. If you do add more services, you need to deliver results or else your reputation will suffer. There are also times where you will need to cold call to pitch products and sales to people who have never heard of you. You need to be charismatic but also display you know what you are talking about and can deliver on what you sell.
• Communication. You will need to be able to convey your observations to findings to not only your employer but also your clients. Being able to explain complicated terms in a way client’s can understand will also build a layer of trust between you and your clients. Always remember that you have spent many years learning this field, your clients have not and will not be as quick to understand concepts as you would be.
• Detail oriented. You must pay close attention to the little details because when it comes to the stock market, small changes can result in large results and consequences. Therefore you must always take the time to analyze everything. Those who take the time to study the market and view its patterns and trends can find it extremely useful.
• Decisiveness. There isn’t much room for second guessing in this business. Sometimes you must take the risk and do that quick decision with your client’s money. Sometimes these decisions can be a hit, sometimes they can be a bust. However before your decision is made, you must analyze the market to look at the current trends. This can help eliminate careless mistakes and large financial losses.
• Strong mathematical skills. You will need to work numbers very quickly in your head. Sometimes those who are slow to do the numbers can lose out a certain deal. Your proficient math skills will help you to judge how profitable a trade or deal may be. You can also calculate how much your losses would be if you needed to sell the stock in order to prevent an absorbent amount of losses.
Sources:
1. http://www.bls.gov/ooh/sales/securities-commodities-and-financial-services-sales-agents.htm#tab-4

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