Jump India Said to Hire Akhtar From IMC in Top Technology Role
Akhtar, whose title hasn't been finalized, will join later this year, the people said, asking not to be named as the information is private. The software engineer had been at IMC India since 2008 and was based in Amsterdam, Chicago and Sydney before moving back to India to serve as the firm's technology lead, according to his LinkedIn profile. He will remain in Mumbai.
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Yahoo
20 minutes ago
- Yahoo
Retreats, coaching, and therapy: Inside the $1 billion cottage industry cashing in on the retail-trading phenomenon
A booming cottage industry has taken root amid the retail trader phenomenon. Courses, retreats, coaching, and other services are growing as day traders look for an edge in the market. Those in the industry say traders are bored, desperate to improve, or desire to go full-time. Somewhere in Bali, a group of investors — mostly men — file through the gates of a luxury villa, replete with tiki huts and couches by the poolside. This isn't just a vacation, they say. The goal, in part, is to make tons of money, Aaron Luce, the leader of the weeklong retreat for day traders, tells the camera. "This is a beautiful pool spot. We're all going to be chilling for the week when we make loads of money trading," Luce says in a YouTube video documenting the experience, which includes a montage of traders looking at candlestick charts and, intermittently, taking breaks and cannonballing into the pool. This kind of retreat is a relatively new phenomenon, offered to traders looking for an edge amid the explosion of interest in the stock market since the pandemic. In recent years, a cottage industry has taken root amid the hype for stock trading. Social media is rife with businesses offering courses, getaways, one-on-one coaching, and other services that claim to improve traders' performance and get them in the right mindset to turn a profit. And demand, evidently, is booming — in large part due to traders who are swinging to go full-time, desperate to improve, or, in some cases, are simply bored, sources in the space told Business Insider. The industry offering these kinds of services to day traders swelled to around $1.68 billion in 2024, and is on track to grow 11% each year to hit $3.92 billion in 2033, according to one estimate from Business Research Insights. A separate analysis from Dataintelo Consulting estimated that the market was valued at around $2.5 billion in 2023, and is on track to more than double to $5.8 billion by 2032. Google search interest in "Day trading courses" is up 10% over the past year, according to data from the Google Trends analytics tool Glimpse. Searches for "Trading retreat" and "Trading coach" are up 26% and 69% over the past year, respectively, while interest for "Trading therapist" has skyrocketed 263%. On Coursera, enrollment in online trading courses soared 213% in the five years leading up to 2024, according to data the online course provider shared with Business Insider. The online trading platform Webull also says it's seen the number of users on its learning platform grow 37% over the last 3 years. International Day Trading Academy, a trading school that offers courses and an eight-day trading retreat in Bali, says interest in the retreat has exploded three or fourfold in the past year, according to Kelly Lowry, the general manager. Andrew Menaker, a psychologist and a trading coach who frequently works with retail traders, says he's also noticed a big push among the retail crowd to get in the right mindset for trading. The number of people who have inquired about Menaker's coaching services has about doubled in the past year, he said, adding that the waitlist to nab an appointment with him can range from several weeks to several months. Menaker says some of his clients, who are willing to do just about anything to gain an edge, have said they spent upward of $10,000 on materials like indicators, charting packages, and online courses. Others have said they've spent money on things like cold plunges, heart biofeedback devices, brain wave devices, and even psychedelics. Menaker is skeptical of some of the businesses selling to day traders. The space has become flooded with hype and influencer marketing, he says, especially targeting new traders who are just learning the ropes. "It's really a buyer-beware environment," he said. A trader's elusive dream Making money day trading is hard. One 2020 study found that 97% of traders who persisted for more than 300 days ended up losing money, after accounting for fees. Just 1% were able to make a profit, and it was often minuscule. Still, many are willing to keep trying. Cameron Buchanan, the cofounder of International Day Trading Academy, told Business Insider he believes the heightened volatility is what's behind the boom in traders seeking these kinds of services. Big swings in the market are often ripe with opportunity to win (and lose) big, but navigating the intraday moves is not easy even for professional traders. More people are also lured by the prospect of becoming full-time traders, a once-niche ambition that now offers the possibility of financial freedom and the ability to work from anywhere with an internet connection. "People are sharing that life's stressful," Lowry said of some of the academy's clients. "People come out of retreats and say, 'I've made a decision that I'm going to do this now.'" Dr. Reid Daitzman, a Connecticut-based psychologist who frequently works with day traders, says he's seen a 50% increase in traders wanting to work with him over the past year. He believes that a good chunk of his clients are deeply involved in the stock market and seek to improve their trading, partly because they've already lost a large sum of money, but also because many are bored. "A lot of people just trade because they have too much time on their hands, literally, and they have nothing to do," he said, adding that some of his clients were recovering from substance addictions and picked up day trading in sobriety. Menaker, who consulted with traders on Wall Street prior to opening his own practice, believes the main way traders improve is by understanding themselves better. His work hinges on the idea that traders need to know their "inner market" — a nexus of hopes, dreams, fears, and memories that explain how traders respond to risk and opportunity. While he sees some value in trading education and some evidence-based tools, like HRV biofeedback, he believes most gadgets out there won't make a difference unless traders do the work to understand their own minds. "People will never really get what they need, which is, 'How do I respond when I'm under pressure and how can I change that to act more in my own best interest?' That's really what the courses should be emphasizing more, in my opinion," he said. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
an hour ago
- Forbes
DJI's First 360 Camera Is Impressive, But Needs Some Tweaks
Once upon a time a half decade ago, Shenzhen-based tech brands DJI and Insta360 each dominated a respective field: the former made airborne drones, the latter 360-degree cameras. But about two to three years ago, the two brands' products began to overlap: both manufactured similar performing action cameras and gimbals. Reliable rumors say Insta360 is soon entering the drone space, but before that happens, DJI has already ventured into Insta360's category with the release of its first 360 camera, the Osmo 360. For a first attempt, the Osmo 360 is very polished, and already does a few things better than the current 360 camera king, the Insta360 X5. For one, the Osmo 360 has larger image sensors, a pair of 1-inch cameras that together produce 8K resolution 360-degree videos at up to 60fps. DJI's Osmo 360 (left) and Insta360 X5 (right) Ben Sin The second advantage in favor of the Osmo: it has 105GB of built-in, usable internal storage (with the ability to add more storage via MicroSD card); the Insta360 X5 has no internal storage and must use a memory card. Number three, the Osmo 360 plays nicer with DJI's wide ecosystem of products. For example, the Osmo 360 connects natively to DJI's Mic 2 and Mic Mini, and the Osmo 360 uses the same magnetic quick release mount and battery as DJI's action cameras. Insta360, despite having a wide library of products, doesn't do as good a job in terms of cross device connectivity. For example, the X5's battery only works for the X5, and there is no universal mount for multiple Insta360 cameras. But it's not all one-sided: the Insta360 X5 has a couple of major advantages: it has swappable lenses, so if you damage a lens surface, you can swap the lens out instead of needing to buy a whole new camera. The Osmo 360 does not offer removable lenses. The Osmo 360 does not have removable lenses. Ben Sin And while DJI's 360 camera has technically better hardware, I find footage captured by both to be pretty much neck-and-neck in technical qualities. Even in low light situations, I can't really see where that larger sensor is benefitting DJI's camera. You can see in side-by-side comparisons in the embedded video. This is likely due to Insta360 having superior software processing for now. This shouldn't be a surprise, considering Insta360 has been making 360 cameras for seven or eight years, while DJI is new to the game. Still, considering how established DJI is as a company, I have no doubt its software will catch up to Insta360 eventually — it's just a matter of whether it takes a few weeks or few months. The DJI Osmo 360 is priced at around $550 for the base package including just the camera and a pouch. There are multiple higher-tier packages, including the one I reviewed: a $750 kit that includes the camera, two extra batteries, a battery charging case, and a selfie stick. This is the kit most creators should go for. This price is a bit steep, but I do think solo content creators or adventurers will find the investment worth it for their workflow. Still, as of the time of this writing, I'd still lean towards the Insta360 X5 as the best all around 360 camera, for now.
Yahoo
an hour ago
- Yahoo
Rupee logs worst losing streak in 6 months on US tariff woes; RBI caps damage
By Dharamraj Dhutia MUMBAI (Reuters) - The Indian rupee ended lower for a fifth straight week, its biggest consecutive weekly drop in six months, as trade tensions between India and the United States escalated following President Donald Trump's call for new tariffs on Indian goods. The rupee closed marginally higher at 87.6550 against the U.S. dollar, from 87.7025 on Thursday. The currency opened at 87.5600 and reached an intraday high of 87.5350, supported by unwinding of long dollar positions in the NDF market. Dollar bids, primarily from oil importers, pushed the USD/INR higher after initial lows, traders said. For the week, the rupee eased 0.1%, following a 1.2% drop last week, and has depreciated nearly 3% over the past five weeks. Rising pressure on the rupee was driven by India's position among the hardest-hit countries in Trump's trade offensive, including a new 25% tariff on Indian goods. The move places India alongside Brazil, facing the steepest import duties, unsettling markets concerned about the impact on capital flows and investor sentiment towards Indian assets. Fears of a record low in the currency prompted the Reserve Bank of India to intervene almost daily, preventing a deeper slide, traders said. The RBI resumed intervention in the NDF market to manage rupee volatility, four bankers told Reuters. Market participants expect another drop in foreign exchange reserves that saw a decline of more than $9 billion in week ended August 1, indicating intervention in the spot market. Meanwhile, some remain hopeful that a resolution would be achieved in coming period. Looking at the recent history, there is a high probability that the U.S. lowers tariffs in coming weeks or months and this could lead to a relief rally in Indian markets, as and when it happens, said Nishit Master, portfolio manager at Axis Securities PMS. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
