Something I’ve noticed in media, is people tend to view content and mimick the aesthetic or trends to fit their current lifestyle or to replace it. Sometimes it’s funny and entertaining, but other times it can seem pointless or uninteresting. It is especially relevant for the idea of entrepreneurship and looking to be your boss.
Many people have kick-started their own business from their homes’ comfort, especially because of the Coronavirus Pandemic. Not to mention, the number of small businesses and interest in investing has skyrocketed. Millennials have seemed to take the most action regarding the stock market and trading, yet they seem to lack information and go in blindly because of an ad they saw or because a friend recommended it to them. Being that I am a millennial, I seek the answer to this very question, so I did some digging, and here is what I found:
What is trading?
Trading is essentially buying and selling stocks and/or assets. Trading is a part of The Stock Market, which is where people place their stocks and/or assets. Platforms such as Robin Hood, Cashapp, Stash, and Acorns, have gained popularity among millennials because not much is required to get started.
Why have millennials become so invested?
Millennials are tech-savvy. This is the generation that understands and embraces technology the most. Instead of relying on the old-fashioned way of research, it is one Google search away. There is a wide variety of trading platforms for younger people to learn to trade without getting professional help. Remember to be careful when signing up for specific platforms. MLM’s (multi-level marketing) have been on the rise but seem to profit solely based on you signing up for courses and additionally expecting you to gain people under you. This is a scheme marketers do to still profit whether they make trades and make it seem as if you’re missing out on an opportunity. It is to get you warped in but don’t fall for it. There are people within these MLM’s that don’t have this mindset, but always be cautious for what you put your time and money into it.
Is it honestly that easy?
Now, I’m not knocking down the idea of investing because let’s face it: investing is a smart idea. However, it’s not as easy as people let on. These entrepreneurs, day traders, and investors make it look easy with a quick 30-second TikTok on how you can be rich by investing as little as 25 cents but let’s be real: that ALONE isn’t gonna get you to where you want to be. According to tradeciety “More often than not, trading decisions are not based on sound research or tested trading methods, but on emotions, the need for entertainment and the hope to make a million dollars in your underwear.” I cannot stress this enough: Trading takes time to learn! You most likely won’t understand everything at first, and that’s ok.
What should I do now?
Whether you have an entrepreneurial mindset or not, if you want to know more about something, take the time to learn. Gain the proper knowledge and truly decided if this is something you want to spend your time and energy on. Trading can be stressful! You will not see results right away. You’re more than likely going to play the waiting game. If you decide to trade, go into it with a positive mindset. If you immediately think it I something you won’t make a profit from, don’t force yourself to do it just because it works for someone else.
Source (s): Day Trading Courses | Online Training & In-Person Seminars. (2019, July 30). Warrior Trading. https://www.warriortrading.com/trading-courses/
6 Things That Separate The Pro From The Amateur Trader That You Can Change Right Now –. (2019, February 6). Tradeciety Online Trading. https://www.tradeciety.com/how-to-become-a-professional-trader-fast/
Nance-Nash, S. (2020, November 03). New Kids On The Block: Young Investors Are Battling Anxiety And Inexperience In The Stock Market. Retrieved January 21, 2021, from https://www.moneyunder30.com/new-kids-on-the-block-young-investors-are-battling-anxiety-and-inexperience-in-the-stock-market