Online Trading and Algo Trading Platforms have accelerated the dawn of a new generation of traders, both globally and in India. The stock market is currently filled with ambitious newbies and youngsters. Algo Trading platforms and apps, like AlgoBulls and many more have created ease with new age technology, by offering ready to use algorithmic trading strategies on the marketplace with full automation.
Also, lockdowns led to the emergence of Work From Home, which gave many millennials sufficient time to study the stock market and participate in minor transactions. The pandemic has made the world witness growing numbers of self-employed remote workers. We’re watching the market fill up with self-reliant trading professionals.
Easy-to-use auto trading mobile apps / platforms have made Day Trading a lucrative option for millennials looking for a secondary source of income. These platforms have the best algorithmic trading strategies listed for users to implement. Especially, Indian millennials do not seem scared of the risks involved in stock trading. Most of them have the required patience, dare, and adequate risk-appetite.
The New Generation Of Traders Trading With A More Hands-On Approach.
The Millennials and Gen-Z investors are stepping into Trading with a highly hands-on approach. They pick trading platforms carefully; they do their share of research online to better understand the scenario before they step into Trading. Also, several investors who make long-term investments have shown interest in swing-trading and day-trading, where the risks are higher, creating a necessity and demand for AI-based Trading Apps and Platforms.
The new generation of traders is more tech-savvy, and they make sure to keep up and stay updated with all the latest technological developments and have access to the latest apps and trends. Once they knew they could buy and sell stocks from a simple mobile app, it naturally triggered their interest and curiosity. Algo Trade rose to popularity in no time. Also, the financial experts and advisers have admitted that they noticed older traders and investors going for options with lower risk, like, for example, blue-chip stocks, index funds and traditional currencies. At the same time, younger traders have mostly preferred to go for trades that come with higher risks, like tech stocks and cryptocurrency.
Cryptocurrency Acted As A Catalyst In Popularizing Day Trading.
In recent years, the world has been fixated on cryptocurrency, which somehow boosted the interest in and demand for Trading. Bitcoin stemmed a fascination surrounding quick money-making. While bitcoins became mainstream, new traders and investors made millions from them. But once the craze subsided, the sensation was directed towards Trading, leading to the rising popularity of AI-based trading apps. Also, in light of the pandemic and the substantial financial losses it brought on people worldwide, Trading became a fast way to make money, but paying for broking firms during the ongoing crisis had become next to impossible for most people. The platform for stock trading and software for traders negate the need for commission fees and hence, looked like an attractive option for most young traders.
Social Media Made Stock Trading Look Attainable & Familiar.
Trading involves several complex processes that include data analysis, maintaining transaction history, identifying trading opportunities, predicting stock performance, and more. Social Media has made these complex processes look possible and attainable. There is a vast community of people, experts, traders, strategists, investors, and the like, online on social media, talking, explaining, and sharing advice about Trading, day trading, algo trading, and more. For the common people, it has become easier to stay updated about all that is going on in the market. We can stay informed about the market changes at all times. Also, a new trend of Twitter Traders that include both amateurs and professionals has begun to act as Trading Gurus for the newbies out there. We just need to follow the right people to learn from the best. Also, social media is full of millennials and the younger generation, which makes them more interested in Trading. They have the required platform to know, learn, try, and accomplish.
Trading Has Become The Most Sought-After ‘Side-Hustle’.
Since the beginning of the pandemic, many people around the world have lost their jobs, and the desperate fight for survival led to the popularity of the freelancing concept and the urge to find a ‘side-hustle which refers to a source of earning other than the mainstream occupation or profession. And AI-based Trading Platforms made Stock Trading look like the perfect side-hustle for the youth. Also, the millennials are developing a culture of enabling a passive source of income and making smart investments. The younger generation prefers to have flexibility in their professional lives, and they are more inclined towards breaking away from the 9 to 5 norm. What added more to the excitement of the younger generation was that there have been several instances of traders who are living off the money they made from one successful trade. There have been instances where people are living off the profit made from making one transaction a day. But all of this sparkle is technically a myth because Trading in real life consumes a lot of your time. It acts as any other employment, the only differences being more autonomy and more flexibility.
More young people are showing increasing interest in pursuing serious careers in Trading, especially the millennials and the Gen-Zs. Financial experts predict and hint towards a significant shift in focus when talking about broader education, which Trading could become a part of. Educational streams are probably going to cover subjects like money management, investment, and stock trading. In the more practical scenario, with sufficient knowledge, patience, experience, foresight, and dedication, backed by technology and automation, Stock Trading can be the primary source of income for many in the recent generations.