Going into the week ahead, Japan’s economy expanded by more than expected in the fourth quarter, further extending the recovery from its worst recession post war. As a result, the Nikkei 225 finished the session up close to 2% breaking through the 30,000 handle; marking the first breach of the level in more than three decades. Company shares have continued to report positive earnings and with the nation also set to start vaccinations later on this week, it bodes well for market participants and investors. Conversely the Japanese Yen was amongst the weaker currencies starting the session this week as an upbeat risk tone swept across markets on growing optimism surrounding the Pandemic. Flows into safe havens were capped as Gold also remained subdued on lack of haven demand; prices have since retreated from the $1,850/oz level which was tested last week.
Last week saw the Dollar rally and press to multi month highs against a basket of currencies as a positive upbeat risk tone took centre stage. US equity markets continued to trade at all-time highs as market participants continued to digest positive earnings, progress in stimulus talks and positive economic data. As the week drew to a close, a weaker than expected Jobs report led to dollar strength cooling off as EUR/USD reclaimed the 1.2000 handle.
Last week saw the FED leave rates unchanged as expected whilst maintaining its asset purchases at the current rate. Fed Chair Powell concluded that household spending on goods has moderated whilst the labour market participation continues to remain below pandemic levels weighing on economic activity and job creation. The Fed also outlined that monetary policy is expected to remain accommodative until employment and inflation objectives have been achieved. Market participants will look ahead to the NFP jobs data to provide further insight on the state of the labour market as an additional 55,000 jobs are forecasted to have been added in the past month.
Proprietary Trading is a sought-after trading role job for both beginners and professional traders alike.
This is because there is no significant amount of capital needed to begin – as traders trade on behalf of a firm’s capital – and because the opportunity for advancement is much faster than other trading types due to the potential profits available.
If you’re a graduate fresh from University, or a beginner trader that can’t afford to part with the copious amounts of capital required to begin trading the financial markets, you may be wanting to start your trading career in Proprietary Trading.
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.