July 16, 2024

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Investment-obsessed Gen Z is using astrology and tarot to day trade

2 min read

Some investors may ask their brokers for trading advice. Young people are consulting the stars and sky.

Stefaniya Nova, who goes by @blonderichwitch on TikTok, is a 25-year-old living in New York City using astrology, tarot, and “intuition” to guide her day trading.

“After scanning the market from 8:30AM till 9AM and picking the stock I’ll be trading that day (today it was Amazon), I do a single card pull to confirm my decision or get guidance,” she says in one video. “Today I pulled the Ace of Cups, which represents abundance; this gave me the needed assurance to trust in my strategy.”

The process seems to be working for her. On the next slide of her TikTok, Nova posts a screenshot of her portfolio from the day, showing an almost $300 gain from trading Amazon shares. “21% return in 8 minutes by trusting my high self :heart:,” she writes. In another video, she posts a screenshot of her monthly earnings of almost $6,000.

Nova is one of many TikTokers to ascribe their financial success to their trust in  the universe—touting techniques like using lunar cycles to buy Bitcoin and astrology to make $440,000 in crypto trading. The practice, while far-fetched compared to the conventional strategies of sophisticated investors, is at the intersection of Gen Z’s love of vibes and financial freedom. 

“It’s a new way of making money,” Nova told Fortune. “New possibilities for people: that you don’t have to, in this day and age, work as hard. Work smarter, not harder.”

Following the stars has worked out for Nova. She quit her job as a tarot reader and astrology consultant this year to day-trade, finding it a more consistent stream of income and earning about $5,000 a month. But that doesn’t mean it’s a good idea for everyone, one expert warns.

“In financial markets, you shouldn’t be making decisions broadly based on perceptions of things,” Samuel Hartzmark, a professor of behavioral finance at Boston…

Sasha Rogelberg

2024-06-16 09:19:00

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