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Some young investors are using astrology and tarot cards to guide their day trading decisions.
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They believe that stock market movements coincide with cyclical planetary and lunar patterns.
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As their identity shifts, Gen Z sees astrology as a form of inner clarity, similar to religion.
They say fortune favors the bold, but a new generation of young investors believes luck is all about knowing when the stars will align.
In other words, they rely on tarot cards, lunar cycles, and astrology to make money day trading.
The idea is that everything is cyclical, from the whims of the stock market to the rotation of the planets.
“What’s astrology? It’s like predicting something is going to happen based on what has happened in the past. That’s what trading is all about. You predict something is going to happen or something is going to do something a certain way because the markets repeat,” the social media influencer and trader who goes by “TJR” said in a TikTok video. “So I guess you could say I’m into astrology.”
This means that there are good times to trade and times when it is best to refrain from trading.
“Astrological symbolism resonates with world events,” said a video posted by a TikTok user who goes by the name “MAREN,” as she explained the correlation between lunar cycles and the cryptocurrency market. “I usually buy on full moons and sell on new moons,” she said, adding, “This is not financial advice, it’s my strategy.”
Older generations may balk at using pseudoscientific methods to guide financial decisions, but for Gen Z, astrology is mainstream.
The pandemic has “led to a loss of geographic or religious identity and an increase in mobile, fluid identity,” Paige Doherty, founding partner at Behind Genius Ventures, previously told Business Insider, which she believes is one reason astrology apps like Co-Star and The Pattern have taken hold among younger users.
So relying on astrology, tarot cards, or any other method of divination is, in a sense, an act of faith.
“As I became more interested in astrology, tarot and intuition, I realized I wasn’t the only one being influenced by these energies,” Stefania Nova, a 25-year-old astrologer turned day trader, told Fortune.
Nova, who goes by the handle @blonderwitch on TikTok, said in her videos that by using her “instinct and astrology,” she was able to make nearly $6,000 trading in the month of May alone.
The rise of fantasy traders has coincided with the rise of the “retail investor,” a non-professional group of people trading small amounts whose numbers have skyrocketed over the past decade.
Read the original article on Business Insider
