Interview With The Senior Markets Analyst – What Makes A Successful Forex Trader?

In a recent interview with our Snr. Markets Analyst at Axis Financial Source, Ltd., I asked him a simple question. What made a successful trader in the Forex market? He told me that it could be summed up in three basic rules:

Rule #1 Make a trading plan
Rule #2 Execute the plan
Rule #3 Under no circumstances change the plan midstream

Our Snr. Markets Analyst holds an MBA in International Finance, is a member of the The Professional Risk Managers’ International Association (PRMIA) and has traded and analyzed the financial markets for over 15 years.

He went on to say that you always hear the “experts” talking about the trillions of dollars being traded in the Forex market. What they don’t tell you is that 90% of all traders loose their money. It’s a zero sum game. For every winner, there’s a lot more people losing their money and the market is unforgiving. He told me that from his experience, the primary reason most traders loose their funds is uncertainty about what they’re doing. So, you’re going to need to be better organized and better prepared than the other guy. Do your due diligence and put together a trading strategy that you feel comfortable with and set it in stone. You must approach your trading like a business, not a hobby.

Once your trading plan is established, it’s vital that you know your system like the back of your hand. You obtain this discipline by demo trading. Demo trade your system until it becomes so second nature, you can do it in your sleep. Then do it again and again. The added experience and knowledge will give you the certainty to perform your trading system by the numbers no matter what the market throws at you. Don’t be in such a hurry to loose your money. Then, when you pull the trigger, let the trade either hit your stop loss, target or break even point. In our experience, this allows your overall trading model the room to breath, as we say. The percentages involved with your strategy need time to pan out and it’s the long haul you should be concerned about anyway.

Above all, “Do not over leverage”. Using proper money management is at least, if not more important than your trading system. Never risk more than 3% of your account on any one trade. This way you can loose 6 out of 10 trades and still make money. Remember, this is a numbers game. So, if you’re trading a $10,000 account and are confident with your system you can loose 60% of the time and still be in profit. It’s not uncommon to encounter a four trade losing streak. Experienced traders have similar or even longer losing streaks. The reason they’re successful is because they use low leverage.

Our “Managed Signal Account” generally only risks 2% of the account per trade and we will only approach 3% if we are nicely in profit for the month. Please note that it gets exponentially more difficult to recuperate your account as losses mount and raising your leverage when you’re negative is the fast track to major losses that are unrecoverable. This is where your trading discipline comes into play that was forged from sufficient demo trading. Strict adherence to prudent risk management will keep you in the game.
Our Snr. Markets Analyst could not overstress that you need to have realistic expectations about your trading. Think of it as the difference between risk capital and gambling money. It’s not like going to a Vegas casino and if you view your trading in any way like you’re gambling, the odds are great that you too will be flying home broke.

Which brings us to the matter of the use of robots. In our opinion, they don’t work. If they did, no one would be trading live and we’d all be living large. Remember, it’s a zero sum game, so, why would anyone sell you their money making machine for $100 when they could be using it themselves to get rich?

Finally, our Snr. Markets Analyst feels that unless your using a news-type trading strategy, specifically designed to trade during financial news, that it’s wise to stay out of the market during these times. It’s been his experience that trading during days with major financial news holds more danger than benefit.

How to Become a Capital Markets Analyst

If you are curious about how to become a capital markets analyst, your first step should be to understand more about the job. This will help you to decide whether this career is right for you and, if you think it is, to make a plan for achieving your professional goals and getting the job you want.

As a capital markets analyst you will need to have an extensive amount of knowledge on such areas as finances, financial markets and risk management products, and strong skills in the areas of analytics, negotiation and presentation. You can gain this knowledge through a bachelor’s or master’s degree in accounting, business, finance or a related field, but negotiation skills may be more innate. If you are not good at negotiating, this might not be the right career choice for you.

Once you have the education from an accredited, reputable institution and some experience from internships and/or entry-level jobs you may begin working as a capital markets analyst. Your duties will include analyzing financing and financial risk management proposals, assessing financial products and structures, assisting in projects and presentations, evaluating financial risk management products including derivatives, helping clients in different capital market transactions and financing structures, managing bank relationships and negotiating finance-related agreements.

Additional skills in collecting and documenting business requirements, creating process and data flow maps or diagrams and organizing financial information will serve you well in this career. Knowledge in all areas of the global capital market is also a necessity, including such areas as compliance, custody, finance, OTC derivatives, prime brokerage, risk, settlements and trade. It will take a long time to complete the education and training, and you will likely have to start at the bottom once you find work at a financial firm, but with hard work and smart financial analysis your hard work will pay off. Capital markets analysts can easily earn $80,000 annually, if not more with experience and merit.

As a financial markets analyst you will be able to find work in cities and towns across the world, particularly in major metropolitan cities. If you are drawn to numbers and finance this might be the job for you.

Institutions offering quality Accounting Programs include University of Phoenix, Strayer University, DeVry University, Brown Mackie College and Everest College.

10 Reasons Why You Need an Experienced Online Marketing Analyst Consultant

1. Clients want Accountability. Advertisers are becoming more focused on how their online advertising dollars are being spent and a Freelance Analyst can help you generate a better return on your clients’ investments.

2. A freelance online marketing analyst can help you confidently forecast online conversions if digital spend were to increase or decrease.

3. A digital analyst consultant can help you determine which paid keywords are dragging down overall performance and which search terms are under-invested.

4. It is much easier to hire a freelance digital analyst than it would be to try learning data analysis techniques on your own with trail-and-error methods.

5. More cost effective solution than trying to recruit and hire a full-time analyst.

6. A digital analyst can help you rank mobile publishers from worst to best across multiple metrics.

7. Can help you determine which creative statistically performs better.

8. An online media analyst can help you set-up a Media Dashboard.

9. Can help you evaluate display publishers beyond CTR and CPC.

10. An Analyst will likely increase your client retention rate as a result of helping to solve problems and enhancing online campaign performance.

Where can you find such a qualified person to help analyze and optimize your media campaign? LinkedIn is a good start. You can also run a search on Google and Elance.com. Some of the qualities to look are: Good at organizing and analyzing data in Excel, has previous experience as a media planner and buyer, has worked across many different brands and cares about performance.

Choosing a Stock Market Analyst

With so many different companies offering such a wide variety of stocks and bonds, it can be difficult to keep track of which ones are good investments and which ones will cause you to lose money. If you aren’t sure how to tell the good stocks from those that aren’t so great, or simply don’t have the time that you’d need to keep track of all of the different stocks so as to know when it’s time to buy or sell, you might want to consider hiring a stock market analyst.

A stock market analyst is an individual, sometimes as a part of an investment firm, whose job it is to watch the changes in the market and keep track of which stocks and bonds are performing well and which ones aren’t.

If you think that you might be interested in hiring a stock market analyst but aren’t sure how you would go about doing so, then the information below should help you begin your search.

Find Local Analysts

The first step in hiring a stock market analyst is finding one to hire. You can often find listings for market analysts or investment services in your local phone directory, and many analysts are likely to advertise in the financial section of local newspapers and other financial publications. You might also try searching the internet for information about financial analysts in your area.

Once you’ve found the analysts that are closest to your area, it’s time to begin investigating the services that they offer and finding the one that’s best for your investments.

Compare Prices and Services

Obviously, stock market analysts are going to charge for their services… after all, it’s how they make a living. You should take the time to see how much the various analysts in your area charge, and find out exactly what services that price covers. Some market analysts might have several different packages at different prices, offering different services for different amounts so as to cover a variety of different service needs and financial limits.

Take some time to compare the prices that each analyst charges and the packages that they offer, and when you’ve decided upon the one that offers the most services that you desire for the best price begin checking to see how good they are at their job.

Check References

Taking the time to check references and to see if your potential analyst has any major complaints against them can help you to avoid having to repeat your search in a short period of time. In most cases, you’ll find that businesses such as stock market analysts will have customers who are more than willing to allow the analyst to use them as a reference because of good experiences that they’ve had. If they don’t have any references that you can use, take a little time to ask around and see if you can uncover any good or bad experiences that others have had with them in the past.

Though it may seem like a lot of work, you want to make sure that the person that you hire will be able to do the job that you’re hiring them for.

Making Your Decision

After you’ve done some checking around and gone over the information that the analyst has given you again, it’s time to make your decision. If it seems as though they’ll do a good job in advising you on your stock choices, go ahead and hire them… if not, you should continue your search until you can find the one that will.

Top Five Qualities to Look For in an Online Marketing Analyst

The primary function of an Online Media Analyst is to assess an advertiser’s campaign performance in order to identify ways to eliminate media waste and increase online conversions. The Online Media Analyst position (also referred to as Online Marketing Analyst or Internet Analyst) is roughly a new kind of role in the advertising industry. A good experienced Analyst will possess 4 of the 5 qualities that I will share with you in a moment. However, before we look at these qualities, let’s make sure we understand what an Online Media Analyst is NOT.

An Online Marketing Analyst is NOT a Research Analyst or Database Manager. The primary role of a Research Analyst is to design or assist in the development of questionnaires, identify competitors and research changes in the industry that may affect sales. The primary role of a Database Manager is to create and distribute reports. They will likely have experience with SQL, Access, web site analytics tools and Business Objects. So if you are interviewing candidates for an experienced Online Media Analyst position, how do you know if the candidate has the right skills for the job?

Interview question to ask a candidate for a senior Online Media Analyst position – Quality #5

If you are interviewing candidates for a senior level Online Marketing Analyst position, it is first best to confirm they have an online analytics or digital analyst background. Here is one question you can ask the candidate – “if a client wanted to increase paid search weekly spend by 30%, how would you determine or predict the number of sales they’d expect to generate as a result of the increased media activity?”

A candidate with an Online Marketing Analyst (Analytics) background should be able to answer this question which results in quality #5, the ability to assess the problem and determine how to go about finding the proper solution. If they cannot answer this question, this candidate is likely not qualified for a senior Online Marketing Analyst role. (If you want to know the answer to this question, please send me an email).

Quality #4 – Intermediate to Advance Expertise with Excel

An analyst must be able to process and analyze data very quickly and this is where good Excel skills come in. An experienced analyst will know how to use Vlookups, Pivot Tables and Solver. If they have some experience with Access and VBA Modeling, even better!

Quality #3 – Had a Great Mentor

A good mentor guides, critiques and helps improve an employee’s performance in every way possible. When I was a Media Planner years ago, I was very fortunate to work under Greg March, Media Director at Wieden + Kennedy. Greg had began his career with Beyond Interactive (now Beyond Interaction) back in the 1990′s and taught me a great deal, everything from trafficking banner ads to developing innovative ways on how to work with ad networks.

As an analyst, I worked under Jennifer Zola, Director of Strategy and Insights for GroupM Search and MECi. Jennifer’s background in data analysis and statistical modeling served not only as a valuable analytics to me, but also to clients and media teams. I owe both Greg and Jennifer a great deal of gratitude for I believe I worked alongside two of the best and most experienced minds in the online industry!

So ask for references and find out if they had a good mentor because if they did, it is likely they are better than what their resume entails.

Quality #2 – Had Previous Experience as a Media Planner/Buyer

With the internet, there is a virtually unlimited amount of online data at our fingertips. This is great for analyst since there is so much information that can be pulled from this data. However, analyzing all this data will often lead to a waste of time. What is the purpose of spending two weeks analyzing data and finding out some interesting, but useless information?

Before looking at data and performing any analysis, an analyst should ask him/herself this one question – “Will the conclusion or strategic finding possibly change the way I plan or buy my media?” This is why I think the 2nd best quality an Online Media Analyst can have is to have a media planning background. Otherwise, they can easily waste a great deal of time analyzing data that will not lead to optimization recommendations.

Quality #1 – Cares About Performance

A person who cares about performance will get the job done, simple as that. An analyst who cares about his/her client’s campaign will find a way to optimize and doesn’t mind working late or weekends because it is very likely they like what they do. And if this person likes what they do, they will likely be good at it!