In many ways, this decade is turning out to be a significant time of transition for investors, traders, and entrepreneurs. The coalescence of several factors has created a unique environment in which all the old assumptions are defunct. Advances in technology, the rise of social media based financial strategies, the post-COVID economy, and other factors have created new opportunities for people of all income levels.
Now, anyone who wants to sock money away in hopes of earning a decent rate of return has dozens of options that weren’t available just a decade ago. Some techniques, like scalping, have been around a while, but there are new twists and variations on all the traditional themes. For example, day trading has gained widespread acceptance among non-professionals. Cryptocurrency, like that on the Bitcode method, is one of the new stars of the investing scene, and companies that pay dividends are finding new followers by the thousands. Here are some of the latest and most popular strategies being employed by casual and full-time investing enthusiasts.
Gold Scalping
Gold scalpers were once the oddballs of independent investors. Many were independently wealthy individuals who simply enjoyed speculating on the price of the famous yellow metal. With the advent of ETFs (exchange traded funds) and mini-futures, practically anyone can take part in the exciting world of precious metals scalping. The basic technique is to purchase relatively large amounts of gold shares or futures and then skim profits off small price changes in either direction, depending on whether you were short or long.
Day Trading
Not more than a decade ago, day trading was a specialist’s pursuit. Now that mobile-based investing is commonplace, millions of everyday investors are opening day trade accounts with online brokers and pursuing profits on single session price shifts. No positions are held overnight, which eliminates exposure to gap pricing on the opening bell each day. Many newcomers to the pursuit prefer to specialize in low-cost penny stocks. A smart way to get started is to review a complete day trading guide about the most appropriate penny stocks to trade. Consider using a watchlist of stocks that you work from each morning as you look for setups and price moves.
Amassing High-End Cryptos
The entire cryptocurrency segment is rife with highly volatile prices. For that reason, the vast majority of potential investors avoid it. However, now that leaders in the space, like bitcoin and ethereum, have established themselves as accepted forms of payment, stores of long-term value, and viable assets in their own right, many are giving them a second look. Accumulation for long-term appreciation, rather than trading for short-term profits, is the preferred way to earn money on a crypto portfolio.
Leveraging the Power of DRIPS (Dividend Reinvestment Programs)
Many working adults are discovering that they can park their savings in DRIPS to maximize returns even in a volatile economic climate. The beauty of dividend reinvestment programs is that they’re a set it and forget it type of arrangement. Once you choose the stocks you want to include in your account, all dividends will go directly toward fractional or whole shares of the original securities. If you select aristocrats, shares of companies that reliably pay quarterly dividends, the ROI on a DRIP account can easily beat out traditional bank savings accounts.