Vietnam has become a hotspot for investors worldwide. Earlier this year, plenty of foreign investors entered the country to focus on venture capital or startups. Although the startup ecosystem in Vietnam is very young, many businesses like Trusting Social, Elsa, and Sky Mavis have attracted the attention of reputable investors, with the total amount of investment capital in startups reaching as high as 23 trillion VND (1 billion USD).
Given this rising amount, forging a career in trading and finance has become all the more profitable and appealing. However, there’s no denying that finance positions are challenging to manage. Especially in the realm of trading, many factors can contribute to the rise or fall of a person’s portfolio, from changing company reputation to world economic events. But for people still interested in pursuing a career in trade and finance, here are some things you need to consider:
Continually acess relevant educational resources
In the field of trading and finance, there are plenty of skills you need to know, from understanding trading jargon to navigating taxes. Enhancing one’s knowledge and applying these skills is the best way to jumpstart your career, which is why it’s important to find and access relevant educational resources to boost your skillset. Fortunately, many fintechs have made financial learning much more accessible— allowing users to access materials and platforms as long as they have an internet connection. Regarding business finances and entrepreneurship for aspiring businesswomen, the platform HerVenture provides lessons, tips, and business support activities via a mobile phone app. Through the platform, women can build business knowledge, including financial management, expansion, e-commerce, and much more, acting like a miniature MBA program optimized for quick but efficient learning.
Fintechs can also take learning a step further by offering hands-on experiences, enabling users to apply their knowledge directly to different scenarios. Case in point, online trade brokerages allow traders to implement different trading strategies and use various analytical tools. Finding a reputable forex broker may be the best choice for those starting, as they will be equipped with favorable offers such as transparent price history and feature-free and commission-free accounts. New traders can even begin with a standard cent account,
allowing them to trade with micro lots that give them a good market feel without risking a large deposit. Note that some securities are more volatile than others, so it’s still essential to research before practicing hands-on. By using these apps and platforms, those in the finance industry can practice and sharpen their know-how.
Avoid multitasking while learning
While it may seem efficient to multitask while learning, it often isn’t as effective as many think. As discussed in our post on multitasking, having to juggle multiple things at once can make simple tasks difficult, impair short-term memory, and make you more mentally exhausted. Instead, it’s better to limit multitasking altogether, make a clear schedule, and set aside time for priority tasks. Learning new things usually requires high concentration, so it’s best to have time allotted for engaging in educational resources. It's also imperative not to multitask or get distracted when learning to trade, as a lack of focus may lead to decision errors.
Build resiliency and adaptability
As highlighted by Mr. Lam Anh Tuan, a member of the Vietnam Community of Financial Advisors (VWA), positions like financial advisors face several challenges beyond the market and regulations. Economic downturns are often the most critical time for finance professionals as they need to know how to deal with impatient and risk-averse clients, quickly reposition portfolios to optimize returns and minimize risks, and compete with others in the same industry.
While there is a steep entry curve, building a career in trading and finance is possible. But before you take any risks with working full-time, it’s vital that you first assess yourself for market knowledge and other important trading and financial values and skills. By taking the time to build the right work ethic and mindset, you can succeed in your career.