Trading has changed since the pandemic
As the global pandemic halted our lives, many people fell into the pit of being laid-off. The interesting factor is what people did to overcome these challenges and progress forward.
Out of adversity comes opportunity. - Benjamin Franklin
While it is statistically proven that the fresh generation is becoming more financially literate, both the young and hungry Gen Z and Gen X'ers have taken the opportunity during these telling times to explore the market as a "side hustle". With the US specifically receiving various rounds of helicopter money to citizens making less than 75K, a large portion of the stimulus fund was indeed invested back into the markets.
Younger generations have found solace in side-hustles, freelancing, or entrepreneurial ventures after being consumed in mountains of university debt. These educated minds have sought out independent education on financial matters to explore the option of trading. From day-trading with an aggressive strategy, to simply getting acclimated and forming a more passive trading strategy, more and more people are resorting to the markets and investing to possibly yield a quick dollar or two. More specifically, individual investors jumped 14.9% in 2020 alone.
A crucial point people take into consideration when beginning a new side-hustle are the initial costs. Are there high barriers because of an exceeding cost or not? Trading with IGM FX requires low barriers to entry because of the little to no capital upon initial investment. Furthermore, in any investment the investor chooses exactly what they want to invest and has full control, whereas another side hustle possibly involves extra start-up costs.
Another great positive to investing as a side-hustle is that the investor has freedom to choose what time he or she wishes to devote, whether on a daily, weekly, or monthly basis. With easy-to-use features and unlimited analysis tools such as stop-loss orders, or limit-buys, the potential for sitting back and relaxing is certainly there. In addition to these great features, the FX market is open 24/5 round-the-clock; this means that the transition from your regularly scheduled working hours, to trading could be seamless. Flexible trading hours in the market are the perfect aid when looking to add to your busy calendar of Zoom meetings and virtual calls.
Lastly, when exploring trading as a side-hustle, it is vital to find the perfect platform that provides a synergy of education, resources, and sophisticated trading analysis for your convenience. Many platforms offer this at different levels, so be sure to evaluate the brokerage's offerings in full and extra features could be game-changing.
Although trading can potentially yield extra returns and benefits, it is important to acknowledge the main factor of risk. Investing is never a guaranteed solution, but with careful calculations, education, and continual analysis trading can potentially transform into a great side hustle reaping rewards.
Some of the most impactful success stories or innovations rise when one is faced with adversity. Is it your time to rise above and challenge yourself in the markets today?
This article was written and submitted by IGM FX.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer: This material is considered a marketing
communication and does not contain, and should not be construed as containing
investing advice or a recommendation, or an offer of or solicitation for any
transactions in financial instruments or a guarantee or a prediction of future
performance. Past performance is not a guarantee of or prediction of future
performance.
