Astrologers on TikTok: A Modern Spin on Stock Trading?
Mercury in retrograde may influence your horoscope, but can it guide your stock investments? Stefania Nova, a 25-year-old day trader, believes so. Nova, renowned on TikTok as @blonderichwitch, claims astrology has helped her accrue $31,000 in profits over three to four months by picking stocks based on celestial movements and tarot readings. She’s not an anomaly; a Harris Poll survey from 2024 revealed 62% of Gen Zers believe in astrology. The global astrology market, valued at $22.8 billion by 2031, is expanding, per Allied Market Research.
Every morning, Nova examines the market, consults tarot cards, and evaluates planetary positions before making her trades. Since transitioning from tarot reading to day trading, this strategy has proven lucrative, albeit unconventional. "I don’t rely heavily on the news—it creates noise. I trust my intuition," she explains.
However, financial experts caution against such practices. Increasing numbers of ‘experts’ on TikTok and YouTube could lead to misguided financial advice. Min Khant Thaw, another astrologer known as Doctor Racso, lost $440,000 and incurred debts using similar strategies.
Astrology-driven investments might seem compelling, but Natasha Knox, founder of Alaphia Financial Wellness, describes them as "neither optimal nor ideal." She highlights the role of confirmation bias—where individuals seek evidence that supports their beliefs. Byoung-Hyoun Hwang, a finance professor at Nanyang Technological University, adds, "I have yet to see solid evidence that fortune telling predicts a company’s future performance."
Despite warnings, Nova remains undeterred: "Everybody finds their own method. It all comes down to finding what speaks to you."
For those interested in financial self-improvement, CNBC offers resources like the "How to Earn Passive Income Online" course and newsletters on success in work and life. Although astrology might captivate many, it’s wise to ground financial decisions in proven strategies.
Original Story https://www.cnbc.com/2024/07/17/this-25-year-old-made-31000-using-astrology-to-play-the-market.html
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