Profession foreign exchange trader

Foreign exchange traders buy and sell foreign currencies in order to secure a profit on fluctuations in foreign exchange rates. They undertake technical analysis of economic information (market liquidity and volatility ) to predict the future rates of currencies on the foreign exchange market. They trade on their own name or for their employers.

Would you like to know what kind of career and professions suit you best? Take our free Holland code career test and find out.

Personality Type

• Enterprising / Conventional

Knowledge

• Foreign valuta

  The currencies of different countries such as the euro, dollar or yen including their exchange rate and the methods of currency conversion.

• Commercial law

  The legal regulations that govern a specific commercial activity.

• Economics

  Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.

• Financial jurisdiction

  Financial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction

• Financial markets

  The financial infrastructure which permits trading securities offered by companies and individuals govern by regulatory financial frameworks.

Skills

• Analyse financial risk

  Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

• Perform financial risk management in international trade

  Evaluate and manage the possibility of financial loss and non-payment following international transactions, in the context of foreign exchange market; apply instruments like letters of credit.

• Analyse market financial trends

  Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

• Analyse economic trends

  Analyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.

• Forecast economic trends

  Gather and analyse economic data in order to predict economic trends and events.

• Trade foreign currencies

  Buy or sell foreign currencies or valuta on the foreign exchange market on your own account or on behalf of a customer or institution in order to make a profit.

• Manage financial risk

  Predict and manage financial risks, and identify procedures to avoid or minimise their impact.

• Handle financial transactions

  Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.

Optional knowledge and skills

Source: Sisyphus ODB