Moving from technology to Business support.
As with any change, moving from a technology supporting role to a Business support role needs a change of mindset, and this post is intended to help you. Since I moved from Technical support to a Business facing role, I am hoping this will help you a bit when you intend to change.
I moved to a FX support role and gathered some points. Hopefully you find them useful!
Start with the basics:
-What is the company doing? Who are the customers? What is the average volume a day like?
-What does a day look like? Who are the stakeholders? How does the company resolve issues?
FX Basics:
-Spot and foward trading basics.
https://en.wikipedia.org/wiki/Foreign_exchange_spot
-What is a bid and offer? How does it matter?
https://www.investopedia.com/articles/forex/090914/understanding-spread-retail-currency-exchange-rates.asp
-What is an inverted rate (Tip: Bid> Offer)
-Settlement dates (T+1, T+2..)
https://en.wikipedia.org/wiki/Foreign_exchange_date_conventions#Calculating_spot_dates
-What is Risk?
https://admiralmarkets.com/education/articles/forex-basics/forex-risk-management
-Limit Order vs Market Order
Note that the systems can combine, based on simple if-else conditions based on correlation
https://www.investopedia.com/ask/answers/100314/whats-difference-between-market-order-and-limit-order.asp
-What is a fix protocol? What are the market subscription methods?
https://en.wikipedia.org/wiki/Financial_Information_eXchange
-Trading vs Hedging
https://www.investopedia.com/trading/hedging-beginners-guide/
-Basic excel tips
https://blog.hubspot.com/marketing/how-to-use-excel-tips
https://www.contextures.com/CreatePivotTable.html
https://www.guru99.com/excel-vlookup-tutorial.html
Understand what the data/rows represent.
As with any change, moving from a technology supporting role to a Business support role needs a change of mindset, and this post is intended to help you. Since I moved from Technical support to a Business facing role, I am hoping this will help you a bit when you intend to change.
I moved to a FX support role and gathered some points. Hopefully you find them useful!
Start with the basics:
-What is the company doing? Who are the customers? What is the average volume a day like?
-What does a day look like? Who are the stakeholders? How does the company resolve issues?
FX Basics:
-Spot and foward trading basics.
https://en.wikipedia.org/wiki/Foreign_exchange_spot
-What is a bid and offer? How does it matter?
https://www.investopedia.com/articles/forex/090914/understanding-spread-retail-currency-exchange-rates.asp
-What is an inverted rate (Tip: Bid> Offer)
-Settlement dates (T+1, T+2..)
https://en.wikipedia.org/wiki/Foreign_exchange_date_conventions#Calculating_spot_dates
-What is Risk?
https://admiralmarkets.com/education/articles/forex-basics/forex-risk-management
-Limit Order vs Market Order
Note that the systems can combine, based on simple if-else conditions based on correlation
https://www.investopedia.com/ask/answers/100314/whats-difference-between-market-order-and-limit-order.asp
-What is a fix protocol? What are the market subscription methods?
https://en.wikipedia.org/wiki/Financial_Information_eXchange
-Trading vs Hedging
https://www.investopedia.com/trading/hedging-beginners-guide/
-Basic excel tips
https://blog.hubspot.com/marketing/how-to-use-excel-tips
https://www.contextures.com/CreatePivotTable.html
https://www.guru99.com/excel-vlookup-tutorial.html
Understand what the data/rows represent.