Going into the week ahead, markets in Asia started the week slightly positive whilst equity futures in the US experienced gains following on from Friday’s losses. A lack of significant bullish catalysts meant that Covid-19 headlines took centre stage as cases continued to surge around the globe.
In the UK, PM Johnson is set to announce a tightening of border restrictions with a potential announcement banning entry into the nation for nationals of Covid-19 hotspots. There were also reports circulating that those arriving in the UK will need to isolate in hotels at their own expense. This comes after Johnson announced that evidence suggests that the new variant may be more deadly than otherwise perceived. Nonetheless records shows that both vaccines are still being used and are effective against both new and old strains.
When Twitter first broke onto the social networking scene it was viewed as a fun, microblogging platform where users could share updates about their lives with their friends and family.
Now valued at over $32 billion, Twitter has greatly evolved. It provides breaking news around the clock, and has become a place where celebrities, activists and politicians can connect, inform and educate their audiences.
But what some traders don’t know is that there’s a hidden side to Twitter, especially reserved for them. Enter: “Fintwit”.
Fintwit is an acronym that stands for financial Twitter. It’s the name given to the online community that primarily uses Twitter to discuss all things financial, from investing to stock trading.
Going into the week ahead, Asian equity markets traded on edge following Friday’s losses on Wall St as participants sold the news on President-elect Biden’s stimulus announcement. Last week saw the President – elect outline his $1.9tln rescue and recovery plan which is set to include $2,000 check payments and a vaccination goal of 100mln shots during his first 100 days in office. Weaker than expected data stateside and a noticeably slower than expected vaccine rollout weighed on markets and led to riskier assets losing ground as the USD held firm and closed the week above 90.50.
The answer to the question, “Can day trading become a career?” is absolutely, with one hundred percent certainty, yes.
However before you rush to quit your job to day trade, it’s important to consider a number of factors.
The first is how much experience you have in trading. Ideally, to make the jump from trading as a hobby to trading as a career, you should have been trading for a substantial amount of time. We would not advise making such a lifestyle change based off of a singular successful trade, for example!
You should also have good experience of different market situations, and should know how to trade successfully in these. Different market conditions require different strategies, so it’s important that you have knowledge of these.
Getting your first role in a proprietary trading firm is no easy task. This is because proprietary trading is unique. Not only can you make good money quickly if you progress well, traders are also trading on behalf of financial institutions, which means the stakes are much higher.
Because of this, proprietary trading firms need logical, intelligent traders who can trade competently, possess good risk management and above all, have a passion for trading.
Identifying these types of traders is no easy feat either, but for most proprietary trading firms it begins in the hiring process.
In this blog we’ll give you some tips from a proprietary trading firm’s perspective to help you excel in the hiring process and land your dream prop trader role.
Last week saw the greenback attempt to recover from what has been a tumultuous time for the currency in light of the large amount of asset purchases being carried out by the FED. Market participants digested news of a complete ‘blue wave’ after the democrats took control of both the House and the Senate paving the way for Biden and his team as they ramp up efforts to provide more support to businesses and households in the wake of the pandemic. Cases and deaths continue to rise globally despite increasing efforts to improve the speed of the vaccine rollout. To start the week, the DXY is firmer, breaking above 90.25. Conversely, EURUSD trades to multi-week lows after violating 1.2200.
Energy prices are surging, with Brent crude hitting a 10-month high after a 2% rise Australia and China have led the New Year push higher, with 2021 starting in style across the commodity and non-fiat sphere. Losses in Japanese markets ensured a less-than-perfect start, despite a better-than-expected final manufacturing PMI reading of 50. Meanwhile, Chinese stocks gained ground despite the disappointing Caixin manufacturing PMI reading of 53.0 (down from 54.9).
It has been a big year for Alphachain reaching many milestones and our traders have transitioned well from the trading floor to remote home set ups.
Here are some of the key highlights of our 2020 journey
Last week saw the USD continue to slide lower after market participants were reminded of the FED’s dovish stance at their most recent FOMC Conference. The DXY broke 90.00 as the greenback weakened across all major assets and EUR/USD broke above 1.2250.
Cryptoassets took centre stage as BTC/USD broke to new all-time highs and finished the week up over 22%. The surge was also seen across the altcoins as ETHUSD broke above the $650 mark. Going into the week ahead; dollar strength has returned amidst fears of a new Covid-19 strain that has been sighted across the UK and as a result led to tighter restrictions on movement and travel.
Going into final full week of trading, markets are somewhat positive after Asian bourses began the day upbeat. Both the ASX 200 and Nikkei 225 finished the session with gains albeit less than 1%. The DXY remains subdued beneath the 91.00 handle after gains within other G10 currencies weighed on the greenback. The EUA by the FDA for the use of the Pfizer/BioNTech vaccine also lifted markets as US equity futures digested the news. Despite this, Covid-19 readings in the nation continue to rise with cases topping 15.9mln and total deaths closing in on 300,000. Across the pond Germany is planning to shut most shops from this Wednesday until the 10th of January in an effort to contain the spread of the virus. This comes after German Chancellor Merkel outlined that the current lockdown restrictions have failed to reduce infections rates by a reasonable amount.