Foreign Exchange Trader

Foreign Exchange Trader
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A foreign exchange trader looks at the various factors that influence local economies and rates of exchange, and then takes advantage of any misevaluations of currencies by buying and selling in different foreign exchange markets.

Low-end Salary: 
$40,000/yr
Median Salary: 
$110,720/yr
High-end Salary: 
$180,000/yr
Education: 

Mathematics, economics, and statistics majors have a distinct advantage in applying for positions in this field, as do history majors whose coursework included economics. A bachelor’s degree is required. Any experience in a trading environment is valued, as is any work that demonstrates the ability to work hard, make fast and accurate decisions, and manipulate numbers. Many employers appreciate study abroad, international work experience or fluency in a foreign language.

Math Required: 

College Algebra Trigonometry Geometry Calculus I and II Statistics

When Math Is Used: 

Some of the most important characteristics learned from studying math as a foreign exchange trader are quick decision-making skills, problem-solving skills, and a sharp analytic mind.

Potential Employers: 

The foreign exchange market includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. As a result, foreign exchange traders are employed by these various organizations.

Facts: 

Foreign exchange traders must act fast to exploit valuation differences: “You’ve got seconds to decide how millions of dollars should be spent,” said one trader, “so you have to have confidence.” Confidence ranked second right after “guts” in qualities important in new traders.

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Salary figures from
the current US Bureau of Labor of Statistics website and represent the
90th percentile.

The most common question students ask math teachers at every level is “When will I use math?” WeUseMath.org is a non-profit website that helps to answer this question. This website describes the importance of mathematics and many rewarding career opportunities available to students who study mathematics.


 

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