Matthew Poll Day Trading Popularity on the Rise Interview
Utah entrepreneur Matthew Poll was recently interviewed about day trading in Utah as opposed to outside of Utah. Furthermore, Matt was also asked several questions regarding cryptocurrency. You can find that interview at DayTradeWire.com
See the transcript from this interview below:
Matthew Poll Day Trading Popularity on the Rise Transcript
Why do you think day trading has become so popular in Utah?
“I think day trading, in general, is becoming popular, not just in Utah. Furthermore, I think because Utah is a business friendly state, I think there are more people interested. I think, because of cost of living in Utah, people have more resources to trade to invest to, I mean, start a small business to make some extra income.
Because if you’re in a state where you’re just getting squeezed for every diamond you already have, you don’t have any extra liquid to go day trade or go maybe take an extra class to learn how to make extra money. You’re kind of a slave to the system that you’re already in. And so again, it’s this I think, really the state provides a lot of opportunities for like entry into new ventures and entry into new businesses.”
Is your day trading program different for people in Utah?
“Yeah, I wouldn’t the experience of training in Utah in a different country. With our program is experienced different anywhere you go. Training in general, unless you’re in Africa, and you just can’t get internet. I mean, obviously, the trade is gonna be different, because you just can’t trade, right. But as long as you can hook up to a moderate speed internet, and I really mean that like moderate internet speed, your trading and your results are going to be neck and neck with, you know, someone that’s sitting right next to the exchange.
So where you’re living, or how you’re experiencing the program state to state you turn on, it’s going to be the same. There’s there’s no geographical boundary, that’s gonna limit your success based on where you live. With the mild exception of like Africa or like somewhere you’re not going to have the internet.”
How does location change trading strategy?
“Oh, yeah. So one of the things that does impact trading with where you live is time zones for sure. Because New York has a time that they open their market, and they close their market. And to live in New York, if you’re trading that market, the optimal place to live would be in that time zone, right. And that would just be optimal based on our habits of sleep, right?
But I can trade New York open and close, if I want to get up a little earlier, wake up at six 630. Right, and then be done with my day around to 230. Right. But there are markets like, because we’re trading a lot of currency, there are markets that are open that when they open, it drastically changes the market, and the conditions in the market when you’re trading.
So like, for example, when Australia opens, which is later in our evening, it’s an awful, it’s really an optimal time for our country, Utah, even traders to get into that market, because they’re done working for the day. And so they can hop in that markets poppin, the markets moving, there’s tons of volume. So there’s more opportunity, during that timeframe to be trading, let’s say the Ozzy versus the US dollar, where if you lived in China, you would just find the market that works best for you. And China would probably be your market. Maybe if you’re in the evening, or the art market, you know, it’d be the US market, for example.”
Finances Truly Are Global
“So there’s really, because we’re a globe, and we’re, we’re a financial planet, there’s really no place on the planet, that you can be that there’s not an opportunity somewhere happening where there’s money moving.
And cryptocurrency has changed the game across the board. Where there used to be times where it’s like New York, we clock in and clock out, right. And then 20 years ago, they created this overnight market where they’re like, we probably should keep this market going. But we’ll just make a digital and we go overnight. And now with cryptocurrency it’s like, all the time, the market never closes. It’s like 24 hours a day, seven days a week. Even weekends where some currencies closed down on like Sundays. crypto runs all the time.
And a lot of new platforms allow you to trade it all the time. So you can actually trade on the weekends now, where most brokers before and platforms that one he didn’t have the data coming in. You couldn’t until he didn’t he had the data, your broker would let you train in the first place. So cryptocurrency is like radically changed. People like everyday people’s opportunity to jump in and actually do some training.”