Latest news with #Rosato
Business Insider
9 hours ago
- Business
- Business Insider
Gen Z and millennial day traders tell us about turning to the stock market to escape the usual 9-to-5
Carmine Rosato, a 26-year-old based in New Jersey, has never worked a traditional 9-to-5, but his alternative path has been lucrative. According to income statements he showed Business Insider, Rosato has managed to make as much as six figures in a month. There are ups and downs, but he's become used to the swings in his time as a full-time day trader, he said. "I was just drawn to the freedom and the unlimited upside," he told BI in an interview. "I just saw a path that could give me full control over my time." Younger Americans have flocked to the stock market in recent years. Online communities on Reddit, YouTube, and Discord are thronged with Gen Zers and millennials who claim to trade the market full-time or are actively trying to — many in an effort to escape the typical career path and the 9-5 workday. Andrew Menaker, a psychologist and trading performance coach who says he works with retail traders trying to go full-time in his practice, thinks the trend is a response to the economic struggles that younger people face. "How do I get a good job? It's harder for young people these days to get a head start, and I think they recognize that," he said, pointing to concerns like AI destabilizing the workforce, and general macroeconomic uncertainty. "Day trading feels like a way to regain some kind of control." Here are the stories of three full-time Gen Z and millennial traders. The college dropout stock portfolio. Rosato says he grew up seeing many of his family members unhappy and overworked in their corporate jobs. Being his own boss and the prospect of a comfortable life were major motivators for him to learn how to trade. "I wanted a Lamborghini. I wanted a nice watch. I wanted to go on vacation," he said. "And I'll even attribute that to the Wolf of Wall Street." Rosato said he practically locked himself in his dorm room for two years while he learned how to day trade. Eventually, he started hitting his stride and made a deal with his father that allowed him to drop out of school once he made enough money. He left college at the end of his sophomore year. Rosato, who's been in the market for nine years and also shares trading advice on YouTube and Discord, says the key to his strategy is controlling losses, such as by implementing stop-loss orders that prevent a trade from losing more than he's comfortable with. He also limits himself to no more than two hours of trading a day. By 11:30 a.m., he logs off to pursue his hobbies. Over the years, Rosato has been able to treat himself to big-ticket items like cars, watches, and vacations, but he says the freedom is one of the biggest perks. "Some people are just unhappy going through their normal 9-to-5 job, whereas I wake up every single day grateful that I get to work out of the comfort of my own home," he said. The millennial who traded his inheritance Ross Cameron, a 40-year-old day trader based in Massachusetts, also became interested in stocks after creating a dummy stock portfolio for a middle school class. He says the project opened his eyes to just how much money could be made in a short amount of time. At the time, he delivered newspapers and mowed lawns for spare cash. His family lived so frugally that they budgeted every dollar and frequently argued about what they couldn't afford. "It was never about getting rich. It was never about becoming a millionaire or anything like that. It was about just making enough money that I wouldn't have to go work a regular 9-to-5 job," he told BI. When Cameron was 22, his father died and left $100,000 to him and his sister. Cameron used some of the money to fund a brokerage account and began to day trade small portions full-time. It took several years of trial and error before Cameron found a strategy that worked. He attributes his success to trading high volatility stocks and riding the intraday swings. He also limits his losses by putting a trading cap on his brokerage account. The cap prevents him from executing more trades once he loses his average daily gain, which current stands around $30,000, according to brokerage statements viewed by BI. Like Rosato, Cameron also offers trading advice to followers online through his YouTube channel and through online courses. He says that on a typical day, he trades for around three hours, from around 7 a.m. to 10:00 a.m. Like most day traders, his profits vary wildly, but he made an average $157,000 a month in 2024, according brokerage statements shared with BI. Cameron says he lives a relatively non-extravagant life, but he feels secure in his ability to provide for his family and has been able to splurge on luxuries over the years and regularly travels with his family. "I have a level of affluence that I never would've expected to have," Cameron told BI, though, due to the variability of his income, he said he still feels the need to work every day. The nurse looking to escape the grind For every story of hitting big in the market, there are cautionary tales that show how stressful the life of a day trader can be. Edgar Camacho, a 35-year-old nurse based in Florida, got into day trading a decade ago, as Robinhood and other zero-fee brokerages lowered the barriers to the market for more people. He purchased some Disney call options and "instantly" made $2,000. From there, he was hooked, he told BI in an interview. "I was like, holy crap. I had no idea what I just did," he said. "I just made money from my phone. I've got to figure out how to do this more often." Over the next several months, Camacho says he got sucked into the hype of trading and learning from day traders who showed their activity on YouTube. He decided to take a six-month sabbatical from his job and try his luck at playing the stock market full time. Camacho was frustrated by the demands of his job, where 60-80 hour weeks are the norm. "Our life is wasted working pretty much. There's no three-day weekends. There's barely a two-day weekend. And once you have real adult responsibilities—laundry, groceries, kids—I mean, those two days fly by." He also felt squeezed by the pressures of saving for a home, saving for retirement, and providing for his family. "I went to school for eight years. I got my master's. I always figured once I got to this point, I'd be set," he said, adding that, while he's financially secure, he still makes some sacrifices to save. Camacho traded using a brokerage account with a balance of around $30,000, which was his entire savings at that time. In a few months, the balance had been whittled down to $2,000, he said. Camacho said losing that money was one of the lowest points of his life, and though he pared most of his losses, he ultimately decided to call it quits and go back to work. Camacho says he believes millennials and Gen Zers are enticed by the fantasy of being a full-time trader in part due to influencers on social media who claim to fund lavish lifestyles by trading just a few hours a day. "People truly believe that. And I think, in a sense, I kind of believed that that could be done as well," he admits. He said that he thinks the best way to make money in the market is to be in it for the long haul. "The only strategy that really works when it comes to this is buy and hold," he said.
Time Out
6 days ago
- Entertainment
- Time Out
From secret neighborhood to a hidden gem of Buenos Aires: the silent boom of Villa Santa Rita
For years, Villa Santa Rita was something like 'the best kept secret of the western side of Buenos Aires.' A neighborhood of low houses, hidden alleys, and the smell of bakery at any hour. But times change, and so do what's considered 'cool.' Today, this quiet corner between Villa del Parque, Flores, Floresta, and Monte Castro is starting to show its teeth — and its soul — with a growing cultural, gastronomic, and community scene that doesn't lose its essence. The Miracle: A Plaza (Finally!) Yes, until a few weeks ago, Villa Santa Rita was the only neighborhood in the city without its own plaza. But the spell has been broken and the story changed: now there is a new green space that is everything the locals had been waiting for. Kids running, mates shared in a circle, and a feeling of 'finally' beating in every corner. Right next to it is a passage that looks like it came out of a storybook: Pasaje Guillermo Granville, a pedestrian block with low houses and murals, which leads to Pasaje Julio S. Dantas — so narrow it seems like a secret. Walk through it and you'll understand why everyone takes photos there. El Tokio Bar: The Buenos Aires Legend Reborn At the corner of Pasaje Tokio and Álvarez Jonte, a tin awning and floors dating back to 1930 announce that El Tokio Bar is back in full force. This iconic bar, with more than 90 years of history, was restored with the respect it deserves: the traces of the past remain intact, but nightlife has been injected into its veins. From Thursday to Saturday, starting at 8 PM, it switches to a chic bodegón mode. The menu pays straightforward tribute to Buenos Aires classics: milanesa napolitana, ribeye steak, fritters, homemade pasta, and a flan that will bring tears to your eyes. Everything made with top-quality ingredients, accompanied by classic cocktails, draft beer, and a wine list as carefully curated as the atmosphere. On other days, it's open from 8 AM to 8 PM, perfect for breakfast while watching the neighborhood wake up. Bar Don Juan: Vermouth, Tortilla, and the Spirit of Another Era If you're into a nostalgic vibe, Don Juan Bar (Camarones 2702) will steal your heart. Founded over 100 years ago by the family's great-grandfather, this neighborhood café was reopened by the new generation, preserving its vintage aesthetic — old radios, wooden chairs, an old TV — but adding the best of the new: their own vermouth (yes, made right there), homemade tapas, craft beer, and a potato tortilla that deserves special mention. The Rosso, Vigneto, and Rosato vermouths are the house's gems, and the vegetable fritters are no less impressive. Living Postcards: Butterflies, Murals, and Culture In the heart of what's known as Barrio Nazca, a silent but intense cultural movement is blooming. There's a community library where workshops are held, readings are organized, and cultural happenings take place. All on a human scale, all with the warmth of a neighborhood. And in the so-called Pasaje de las Mariposas (Toay Passage 3300), native plants have been placed to attract these magical insects, and a local painter beautifies the facades with unique drawings that make the stroll enchanting. Classics That Endure and Newcomers That Surprise If you want a timeless classic, stop by Heladería Agust (Alejandro Magariños Cervantes 3400), an old-school corner with artisanal ice cream served by its owners for decades. But if your palate craves something bolder, don't hesitate to enter Argot (Álvarez Jonte 2744), a specialty coffee shop with the soul of a gastronomic workshop. They do everything there: bakery, pastry, pasta, dinners, brunch. The place is a renovated old café with plenty of sidewalk and green space. Perfect to slow down time and enjoy a flat white as the afternoon falls. Want something more substantial? A Raja Cincha (Cuenca 1299) is the local temple of grill and hearty dishes: matambre pizza-style, Spanish tripe stew, giant milanesas crowned with gnocchi. Everything overflowing, flavorful, and with the spirit of an authentic bodegón. And for hardcore sweet lovers, El Sol de Galicia (Luis Viale 2881) is a must-visit: since 1957, they've been serving churros with dulce de leche, pastries, and fried cakes that cause pilgrimages on weekends. One tip: they only open in the mornings, from dawn until 1 PM. Villa Santa Rita doesn't shout. It doesn't brag. But when you walk through it, you understand it has something special. A mix of neighborhood with memory, new ideas, beautiful people (soulful, not Instagram-famous), and corners that invite you to stay. It's not one of the biggest neighborhoods, but it's definitely one of the ones with the most heart. And now, it finally has its first plaza.
