There are a multitude of elements that make up a successful trader: Dedication, focus, intelligence, motivation and risk management, just to name a few.

However, whilst these and many more attributes make up a percentage of what makes for a good trader, there is another thing: Mindset, and the trading psychology.

To become a truly successful trader, a trader must possess the right trading mindset and that comes from having a true understanding of Trading Psychology.

In this blog, we’ll take a look at why trading psychology is so important for new, and even experienced traders.

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.

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.

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.