Isn’t it Time to Rethink on Recruiting Strategy for Forex & Money Market Institutions?
Forex Market is something in which participants sell, buy, exchange and speculate on currencies. It is one of the lucrative and exciting markets to trade. Forex Jobs are the fast-paced jobs that lure countless youngsters every year but are all of them eligible for this job is a big question. Time has changed and so does the recruitment strategy for Forex and money market institutions. Let’s get to know some points which you should consider while offering these finance jobs.
Look for the Candidate With Ample Knowledge of Forex Market
Knowledge matters a lot especially when you are going to hire finance professional. Being the recruiter, it is important for you to look for the candidate who has in-depth knowledge of this market such as active hours, trading methodology, knowledge of capital etc. Apart from this, they must have knowledge of and compliance with laws and regulations governing financial accounts and transactions.
Have Compatible Trading Style
While offering forex jobs, the employer should check the trading style of the candidate. See, each type of trading style requires a different approach and each style has a different risk profile. Before finalizing the candidate, see what sort of trading style your candidate is following till now and whether that style is compatible to achieve the goals or not.
Being a Forex trader, one should opt for the trading style that suits his or her personality because a personality mismatch will lead to stress and certain losses.
Have Full Proof Methodology and Consistent in its Applications
This is yet another recruiting strategy to hire the best professional. While interviewing the candidate, it is essential for you to look for the candidate who has a full proof methodology to make decisions and to execute trades. Don’t choose the candidate who has to take so much time in taking decisions and has no idea about his move.
Come down in the favor of a candidate who generally looks fundamentals of the company and use a chart to determine the best time to execute the trend. Well whatever methodology s/he uses, remember to be consistent and make sure that his/her methodology should be adaptive.
Know How to Choose Entry and Exit Frame
This is important to consider while offering finance jobs to the candidate. Choose an individual who knows how to choose entry and exit frame carefully. S/he should be aware that how to synchronize a weekly chart and daily chart so as to yield the best result. For example, if your weekly chart gives you the buy signal, then don’t act immediately and wait until the daily chart also confirms the same. Keep your timing in sync.
Perform Weekly Analysis and Keep a Printed Record
Look for a candidate who performs weekly analysis when markets are closed. Such actions help your employee to formulate upcoming trading week. Apart from this, it is important that your hired candidate should keep a printed record and ready to earn from his or her mistakes. These records will help him to underline all the positive and negative points related to his final decision.
Recruiting a finance professional for Forex and Money Exchange institution is not a piece of cake and thus it is important to look for several factors related to the same. Gone are the days when participants were limited in number and you had to choose them forcefully as now is the time when you have a bunch of candidates and you can choose the best out of them.
It is the high time to ditch that old and boring recruiting strategy and rethink over the same. Hope the above — mentioned points would help you in recruiting your next candidate.