A day trader is a type of investor that buys assets and sells them within the same day to make a profit. Their work is high pressured and fast-paced and usually includes technical analysis over long-term fundamental analysis.
They must wake up early to consume the news and the big stories across industries to create a plan of what stocks, commodities and currencies will be traded that day. Day trading can be done as a profession within an organisation or independently as a sole investor.
If this sounds like a fascinating and exciting job, you may want to know what it takes to become a day trader and what type of education will help you succeed. Read on to learn what university degrees can catapult you to day trading success.
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Do I Need a Degree to Become a Day Trader?
If you want to work in a company as a day trader, you will likely need some sort of formal university education. These organisations desire people who can show they can work to a high level and a university degree proves that to some extent.
However, some people become day traders independently, and they don’t require any specific degree. All they need to know are the skills and traits that make sensible and successful day traders. For example, you don’t need a university degree to have an in-depth understanding of spread betting. You can learn a lot through independent research and networking.
What Undergraduate Degrees Can Benefit Day Trading?
Although there isn’t a university degree specifically dedicated to day trading, there are courses you can take that could help you become a profitable day trader. Here are some of the best:
#1: Finance Degrees
Finance degrees will help potential day traders to understand confusing terms and processes. It is often finance-related students who are more likely to enter into investing and be comfortable as to how it works.
#2: Economics Degrees
Day trading is largely based on economics and understanding how supply and demand works, helping to predict the value of companies and thus, shares. If you want to become a better day trader, then having an in-depth knowledge of economics rather than a superficial one is important.
#3: Statistics and Maths Degrees
Analysing graphs and trends are only possible if you have statistical and mathematic skills. The better your ability to look for trends and analyse sets of data, the better your chances of making future predictions (remember that previous results are not always believed to be indicative of future results).
#4: Business Degrees
A business degree is another way to enhance your day trading skills. Knowing more about companies and taking an interest in how businesses are evolving over time will help you make accurate predictions about the future.
You can learn what else a business degree is useful for right here!
