The current economic situation, aggravated further by the pandemic, has seen an increasing number of people enter different kinds of financial activities. Various tradable markets, ranging from traditional options like stocks and foreign exchange to more novel ones like cryptocurrency, are all at the height of their popularity. One of the biggest factors for this is the growing number of younger demographics who have become interested in trading. Bloomberg.com reports that more than half of Millennial and Gen Z investors have recently reported trading more often than other generations. It’s safe to say that the gray-haired financial trader’s traditional image has become obsolete as younger faces enter the market, bringing with them vastly different attitudes, methods, and innovations in finance.
The younger generations’ well-known risk-tolerant attitudes and sense of empowerment have seen them gamble with volatile trades. This is further catalyzed by the emergence of various forms of financial technology, ranging from online tutorials and mentoring over avenues like YouTube to ‘gamified’ trading apps and websites, which have made it easier than ever to get into trading. With the large wave of unemployment and work-from-home arrangements brought about by the pandemic, these apps have seen much greater use as a high number of people are left at home with tons of free time.
There are emerging downsides to these developments. For one, easy-to-use technology has seen impetuous investors playing with fire. Inexperienced yet overzealous and overconfident investors are prone to poor decision-making that can lead to serious financial losses. It will do new investors well to remember that financial technology is simply a tool meant to augment one’s own abilities. However, while a good carpenter does not blame his tools, having the right ones never hurts.
Californian entrepreneur Mihir Sukthankar offers a variety of financial technology to help the aspiring trader thrive in the precarious world of finance. With tools built upon his accumulated knowledge and experience from trading since he was just fourteen years old, Mihir offers services for traders of differing backgrounds, investment preferences, and risk-profiles.
First and foremost is Traders Circle X, an organization of over 4,000 options traders. Members pay a small monthly fee to TCX’s analysts, led by Mihir and his partners, who then create signals that can be easily read, interpreted, and executed by any member. Mihir and his partners’ grueling hours of market analysis have led TCX to become one of the top options groups on the market, with a win rate of over 90%. In spite of the economic crisis brought about by the pandemic, TCX has experienced such success that some members have quit their jobs to become full-time traders.
For those who do not have the time or drive to trade with an organization, Mihir combined his trading knowledge with experience from coding for different non-profit organizations to create BoostedQuant. A revolutionary tool in finance, BoostedQuant is a machine-learning A.I. that aims to create algorithms and design sequential investment strategies for future financial markets. Clients can customize their BoostedQuant trading bot to fit their needs and investment preferences.
Another project in the works for Mihir is Market Dice, a centralized platform for market information condensed into concise and straightforward digests in newsletter form. In the future, Mihir also aims for Market Dice to offer more comprehensive training on finance, with daily webinars on different markets, such as stocks, crypto, and real-estate.
Mihir hopes that his technologies will help launch young investors with less of the difficulties he once had starting out. Combining new financial technologies and strategies with his youthful energy and enthusiasm, he hopes to revolutionize finance and pave the way for a new generation of traders.
Parallel to the maintenance and development of his companies, Mihir is currently maximizing his time with plans for opening a proprietary trading firm and a hedge fund. You may follow this promising investor through his Instagram at @mihirtrades.