For 21-year-old Lina Khalid, it’s her grandmother’s dream of visiting Mecca that drives her while trading currency.
“I’m gonna do it. Even if I have days where I’m not going to sleep, I’m gonna do it,” she says. A car for herself, some Air Jordans for her sister and being able to spoil her mum would also be nice, she adds.
The Wolf of Wall Street is what comes to mind for most people when thinking of the world of high-stakes finance, but Khalid, who works as a dental nurse, says she is one of a growing number of young women of colour who have taken up foreign exchange (forex) trading during lockdown, whilst remaining conscious of the risks.
The risks are significant and have led many to advise young people against taking part in currency trading, one of the riskiest form of trading there is. While traders who work in banks work with other people’s money, those who do it at home take a huge gamble with their own – and risk losing their life savings.
Vastly dangerous speculation is fine, even admirable, if it’s being done by young women of colour.