While New York is often seen as the powerhouse of the global financial industry, London is actually ranked equally, and the capital very much dominates the global foreign exchange market.
There is a huge global demand from individual retail traders looking to earn a slice of the profits through trading their own accounts. The barriers to entry are low, since individuals can easily set up a trading account with just a small deposit, although the knowledge and skills required to make consistent profits are often more difficult to acquire.
For individual traders, success depends on the right blend of education and discipline. While it is vital to understand how fundamental and technical analysis are used to predict future price movements, the two most vital ingredients for success are emotional control and risk management.
“Around 40pc of the daily $5trn turnover is being traded in the City.”
LAT is a regulated academy providing a range of accredited courses, all of which focus on the four key pillars of trading – fundamental analysis, technical analysis, trading psychology and risk management.
Academic dean, Paddy Osborn, believes that trading psychology is the most vital aspect of trading.
“Without the requisite psychological control, traders will fail to maintain their discipline in times of stress, and this will sooner or later result in significant losses – usually sooner.”
Apart from the focus on psychology, LAT teaching explains how macroeconomic data and political events affect financial markets, always referring to real-life examples and analysing real-time events. Technical analysis, involving the ability to analyse price action on charts, as well as price momentum and trends, is also a vital skill if a trader is to attain consistent performance.
Asanka Weeratunge, programme manager at LAT explains: “There is a big difference between learning how to trade and actually becoming a trader. We immerse our students in the world of trading rather than simply selling the benefits of it.”
He goes on to stress that trading is a career choice, not a get-rich-quick scheme. Paddy concurs: “Many training companies have a poor reputation because they promise instant riches to sell their courses, but we make a point of playing this down. Instead we emphasise the knowledge and skills that are required to become consistently profitable. Quite simply, anything worth doing is worth doing well and, to do so, you need to learn properly how to do it. If individuals decide to commit time and money to study with us, then we will do everything in our power to help them achieve their personal goals.”
At LAT, all of the lecturers and mentors are traders who trade their own accounts – they are “traders who teach”, not “teachers who teach”. As a result, they always have a view on the markets and they can provide the industry insight and perspective that is vital in preparing students for the realities of financial market trading.
This honest and vocational approach to training is helping LAT to build an enviable reputation within the industry, providing new opportunities for hundreds of individuals each year to develop their careers in the industry, or to enhance their personal wealth.
“LAT is a regulated academy providing a range of accredited courses, all of which focus on the four key pillars of trading.”
LAT students range from age 16-70 and come from a wide range of backgrounds; from pharmacists and engineers, students and graduates, to superyacht captains and private-jet pilots. However, what they all have in common is the desire to learn more about financial markets and how global events affect asset prices, whether trading currencies, equities, stock indices or commodities.
Since its inception, LAT has also been dedicated to bridging the gender gap in trading and encouraging women to join their courses.
Dessy Ohanians, interim chief executive says that there are more women in trading now than ever but recognises that there is still a long way to go.
“Only 12 to 15pc of all trading roles are filled by women.”
Mary Palmer, LAT diploma student believes there’s no reason for women to hesitate. “For any women out there who have an interest in this, don’t be put off by the fact that when you come to the trading floor you’re going to be in a minority because it’s not about gender. Absolutely not.”
For more information visit www.lat.london