UAE Residents Work During the Day and Trade at Night
In the bustling city of Abu Dhabi, the pursuit of financial freedom is driving a growing trend among full-time employees. Ambition, risk tolerance, and the desire for economic diversification are motivating professionals to take on a second career—part-time trading in the US stock market.
Ahmed Al Mansoori, an Emirati resident, is one such individual. He works a full-time job but also trades in US equities part-time. Al Mansoori risks around 1 to 2 per cent per trade and keeps strict stop-losses to protect his downside. Before making a trade, he checks pre-market sentiment, looks at his watchlist, and monitors stocks for unusual activity.
Ravi Patel, a Dubai resident, shares a similar story. He started learning about stocks in 2017 after a friend's quick return. Patel trades until midnight on some days and journals every trade. Initially, he lost money due to a lack of structure and knowledge, but he improved after enrolling in a US-based online mentorship group. Now, he earns more from trading than his annual salary, yet he still keeps his day job due to the market's uncertainty.
Patel's discipline, patience, and emotion control, honed through trading, are reminiscent of an athlete tracking their performance. Similarly, Harsh Rastogi, an entrepreneur and marketing consultant, has been trading for 24 years while balancing it with a full-time job. Rastogi plans his trades in advance, focusing on a small set of carefully selected stocks. He views trading as a side hustle, not his true career, due to the unpredictable and volatile nature of the markets.
The allure of part-time trading lies in the US markets' global liquidity and accessibility online, allowing traders to participate after working hours in Abu Dhabi. Trading offers the chance to capitalise on financial market volatility and long-term appreciation, fitting the financial freedom aspirations of ambitious professionals. It aligns with the risk tolerance of younger professionals who are open to leveraging their skills and capital for higher returns.
This phenomenon aligns with broader trends in the UAE’s labor market and economic development. The UAE, including Abu Dhabi, has become a leading hub for international professionals, with a fast-growing workforce focused on acquiring new skills and engaging in innovative economic activities. This environment of high ambition and embracing risk encourages full-time employees to explore secondary careers or income streams.
In conclusion, the dual career trend in Abu Dhabi reflects a shift in workforce mindset toward economic diversification at a personal level, complementing the UAE’s macroeconomic diversification goals away from oil dependency towards finance, technology, and innovation sectors. Full-time employees increasingly combine their regular employment with strategic part-time trading in international markets, notably the US, to enhance their financial independence and career resilience. However, it is essential to approach trading with caution, understanding its unpredictable nature and the need for discipline, patience, and a well-structured strategy.
- Ambitious professionals in Abu Dhabi, like Ahmed Al Mansoori and Ravi Patel, are seeking financial freedom by part-time trading in the US stock market, drawing inspiration from the global liquidity and accessibility of these markets.
- The trend of part-time trading aligns with the risk tolerance of younger professionals in Abu Dhabi, who are open to leveraging their skills and capital for higher returns, mirroring the UAE's embrace of innovation and risk-taking in its economic development.
- News about the dual career trend in Abu Dhabi highlights the shift in workforce mindset towards economic diversification at a personal and collective level, supporting the UAE's macroeconomic goals of diversifying away from oil dependency towards finance, technology, and innovation sectors.
- In the world of investing, Harsh Rastogi, an entrepreneur and marketing consultant, showcases a blend of entertainment (His 24-year trading tenure as a side hustle) and business acumen, while simultaneously balancing his full-time career and trading activities, underscoring the synergy between various sectors in contemporary finance.
