Could You Be A Successful Financial Markets Trader?
By AdFeatures | Wednesday, December 19, 2012, 09:57
The popular image of a trader in the financial markets has undergone quite a few revisions in recent times, and not all of them for the best. With many already thinking of a 'Gordon Gekko' style figure made famous by actor Michael Douglas in the 1987 film Wall Street when the term is mentioned, it seemed unlikely that the image could be tarnished much further.
However, the global banking crisis of recent years has led to many pointing the finger at the more speculative areas of international financial and banking markets as potential culprits. Some would even go as far as to say that the reputation of some traders has sunk to an all time low.
Of course, blaming one set of workers in the international money markets for a complex situation is far too simplistic with the reality being that in the world of finance, as in every other area of life, there are a few bad apples but a vast majority of honest and hardworking professionals.
In fact, in order to be a successful market trader you must have a cool headed constitution that helps you recover from loss making positions and turn the corner back into the black.
City Index Group is one of the leading global providers of retail trading services, active in various markets dealing with thousands of derivatives on a global scale. In October 2012 they launched a new and exciting initiative aimed at helping to repair the image of the city trader.
City Index Competition Improves Financial Reputation
The Trading Academy is a competition with an online component which aimed to show that anyone who has the inclination and who receives the correct technical support and education can become a successful trader.
Novices with little or no previous experience were encouraged to enter and whittled down to eight talented newcomers for a six week head-to-head competition. With one entrant eliminated each week, three finalists battled each other for the winner's title and a £100,000 prize.
The final took place at City Hall in the City of London and the three contestants who made it through were John Walsh, a trainee London taxi driver, recruitment consultant Shazad Asher and Ryan Oliver-Thompson, a freelance journalist.
The judging panel was made up of City Index executives Ashraf Laidi (Global Chief Strategist) and James Chen (Chief Technical Analyst), who also mentored the competitors throughout the competition. They were joined by Chief Executive Martin Belsham for the final.
“The Trading Academy shows that no matter what your background, with the right tools and support, anyone can learn to trade the markets" Mr Belsham explained before commenting on how rewarding it was to see individuals with little or no experience with spread betting or forex trading making significant improvements as the competition progressed.
Trainee cabbie John Walsh was the individual who emerged victorious, describing his involvement in the competition as a “great experience”. With each of the runners—up receiving £5,000 in a new City Index trading account, the benefits of the competition are clear and should leave you with just one question on your mind – “could I become a successful financial market trader?”
Spread betting, CFDs and Forex trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.