social media trading Archives - MKTPlace https://mktplace.org/category/social-media-trading/ all about trading, Fintech, Business, AI & technology in one place Fri, 29 Nov 2024 14:18:29 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://mktplace.org/wp-content/uploads/2021/03/favicon.png social media trading Archives - MKTPlace https://mktplace.org/category/social-media-trading/ 32 32 Exploring the World of Social Trading Platforms: A Beginner’s Guide https://mktplace.org/exploring-the-world-of-social-trading-platforms-a-beginners-guide/ https://mktplace.org/exploring-the-world-of-social-trading-platforms-a-beginners-guide/#respond Fri, 29 Nov 2024 14:18:29 +0000 https://mktplace.org/?p=49687

Photo by Andrew Neel on Unsplash

Have ‍you ⁤ever heard of social​ trading platforms? If ​not, you’re in for‌ a treat! This beginner’s guide will take you on a journey ⁢through the exciting ‍world of social trading, where traders ⁣can ⁢connect,⁣ learn from each other, and ​even‍ copy each other’s trades. Get ready to explore this innovative way of trading and discover ​how‌ you can potentially boost your trading success. Let’s dive​ in!

Welcome to the Exciting ⁣World ⁣of Social Trading Platforms

Social ‍trading platforms have revolutionized the way ​people invest in the financial​ markets. By connecting traders‍ from ⁢all over ⁢the ⁢world,⁢ these platforms enable users⁢ to follow and copy the ⁤trades of experienced​ investors in‌ real-time. This‌ innovative approach to⁢ trading ⁣not only provides an opportunity to learn from the‌ best but ⁢also allows⁤ beginners ⁣to start trading with confidence.

With the rise of social trading‍ platforms, individuals can‍ now⁣ access a wealth ​of trading ​knowledge ⁢and ‌strategies at their ⁢fingertips. Whether you are looking to diversify⁢ your ‌investment portfolio​ or simply ⁤learn ⁤more ​about the financial markets, these ⁤platforms offer ⁣a gateway to endless possibilities. By following successful ‍traders and replicating‌ their trades, ⁤you can potentially boost your own ⁣trading⁢ performance and achieve ⁣your financial ⁢goals faster.⁤ Get ready to embark⁢ on an exciting journey ‌into the world of social trading platforms ⁢and discover​ a ⁤whole new way to trade and ​invest in the‍ markets.

Discovering the ⁤Benefits of‍ Social‌ Trading for ⁢Beginners

Social trading⁢ platforms have revolutionized ​the ⁣way beginners can enter⁢ the⁢ world of trading. These ​platforms allow⁤ users to connect with ‍and⁤ follow experienced traders, replicating their trades‌ in real-time. This opens​ up ‍a world of opportunities⁣ for⁤ those who are new to ⁣trading, providing them with ​valuable ⁢insights⁣ and strategies to help them ‍navigate the complex world of financial markets.

One of the ‍key benefits of social trading for beginners is the ability to learn from seasoned professionals. ⁤By following successful ⁢traders, beginners can observe ‌their‌ trading‌ strategies, understand their ⁤decision-making process, and gain ​valuable knowledge that ​can ​help them make informed trading decisions. Additionally, ‍social trading platforms often provide ⁣users with ⁣access to a ⁣wide⁤ range of trading tools⁣ and resources, helping​ beginners ‍build their trading‍ skills and confidence.

Navigating ⁣the top social trading platforms can ‍be overwhelming for new traders looking ⁣to dip their toes into the world of online trading. With so many⁢ options available, it’s important to do your research and⁢ find the⁣ platform that best suits your ⁢trading style​ and ⁤goals. In this beginner’s guide, we​ will⁤ explore some of the most popular social trading platforms, their features, and how you‌ can get started on your trading journey.

One platform that ⁣has gained popularity among new⁣ traders is eToro. ​Known for‌ its user-friendly interface and social trading features, eToro allows users to follow and copy the trades of top-performing ​traders.⁣ This can be a great way for beginners to⁤ learn from experienced traders⁢ and potentially earn profits in the process. Another popular platform is⁢ ZuluTrade, which offers a wide range of trading instruments and allows users to connect ‌with⁣ other traders through⁤ its social ‌network. When choosing a social trading platform, it’s important to consider ⁢factors such as⁤ fees, user ⁤reviews,⁣ and the range of trading​ tools available. By doing your⁣ due⁢ diligence⁢ and exploring different platforms, you can find the one that⁣ best fits ⁣your needs and helps you achieve your trading goals.

Tips and Tricks​ for Success in Social​ Trading⁢ Platforms

Social trading platforms ⁣have revolutionized the way individuals invest and trade in⁢ the financial markets. ⁤These ⁢platforms allow users to ‌interact with other traders, follow their ⁤strategies, and even⁢ automatically copy their trades. ‍As a‌ beginner, navigating the world of ‌social trading can be⁢ overwhelming,‍ but with the right tips ​and tricks,⁤ you can set⁢ yourself up for ‌success.

First ⁢and foremost, it is​ essential to⁤ choose the right social ​trading platform that‌ aligns with‍ your‍ investment goals and ‍risk ‌tolerance.‌ Research different platforms, read reviews, and ⁢consider factors such as fees,⁣ available assets,⁤ and the community⁣ of traders. Once you have selected ⁢a​ platform, take the⁣ time ​to familiarize⁤ yourself ​with⁤ its features⁣ and tools. Practice using the platform’s demo account to⁢ gain hands-on experience and​ test different strategies without⁣ risking real money.

Additionally, building a diversified portfolio is key to mitigating​ risk and maximizing returns ‍in social trading.⁤ Spread‍ your investments across different ⁣assets, industries, ​and‍ traders to reduce ⁣the impact of any⁢ single loss. ‍ Stay⁤ informed about market trends and news to ​make ⁣informed‌ decisions and adapt⁤ your trading strategy​ accordingly. By following these tips and tricks, you can⁣ navigate the ⁢world of social trading platforms with confidence and⁣ increase your chances of success.

Final Thoughts

As we⁤ conclude‍ our journey ⁢into the exciting world‍ of social ‌trading platforms, we hope that this ​beginner’s guide has ⁤provided you with the ⁤knowledge ‌and confidence to take your first‌ steps into this innovative and dynamic marketplace.

Remember, social trading offers ⁢a unique opportunity to learn from experienced traders, connect with a community of like-minded ​individuals, and potentially grow your‍ investments​ in a collaborative and interactive ⁣way.

So, whether you’re a seasoned investor looking to diversify your portfolio or a complete novice eager to explore new⁣ horizons, social trading platforms‍ offer something for ⁣everyone. Embrace the possibilities, trust your instincts, ⁣and most importantly, enjoy the ride. Happy⁣ trading!

]]>
https://mktplace.org/exploring-the-world-of-social-trading-platforms-a-beginners-guide/feed/ 0
Revolutionize Your Investments: Unleashing the Power of Social Media Trading! https://mktplace.org/revolutionize-your-investments-unleashing-the-power-of-social-media-trading/ https://mktplace.org/revolutionize-your-investments-unleashing-the-power-of-social-media-trading/#respond Tue, 19 Dec 2023 18:23:04 +0000 https://mktplace.org/?p=48674

Photo by camilo jimenez on Unsplash

Are you ready to embark ⁣on an exhilarating journey that will ‍revolutionize the way you​ invest? Revolutionize Your Investments: uncovering the Power of Social Media Trading! Prepare to⁢ witness the unstoppable fusion of modern technology and⁢ financial prowess‍ as we delve ⁣into‍ the captivating world of social media trading! Gone are the days of ⁢traditional investment methods‌ and ⁤stock market obscurities. In this age of ‍interconnectedness, we‌ have ⁣harnessed the power ‍of social networks to‌ unlock a new era of‍ wealth creation. Brace yourself for a thrilling ⁢exploration of‍ how​ social media has become a financial battlefield, where every post, like, and⁤ comment ​holds the potential to shape your investment destiny. Get ready to unfurl⁣ the sails of your portfolio and‌ ride the winds of change, as we reveal the secrets ⁢to uncovering⁢ your full investment ⁣potential‍ through the vast ​realm of social media trading. Prepare to be captivated, enticed, and ultimately persuaded to embark on ⁢this tantalizing journey, where the opportunities are endless and the rewards immeasurable. So, lock in your⁣ seatbelts, stow away any preconceived notions, and‌ let the magic of ​social media take you on an‍ investment odyssey of a​ lifetime. ⁢

Are you ready ⁢to ‍revolutionize your investments? If you’re looking​ to⁤ make smarter, more informed trading decisions, then it’s time to explore the social media trading phenomenon. uncovering‍ the power of social media ⁢can be a game-changer for traders, offering unique insights and ‌opportunities⁤ that traditional​ investment strategies⁤ simply can’t match.

By harnessing the wisdom of the crowd,⁢ social media trading allows you to tap into the collective intelligence of thousands, if not⁤ millions, of individuals. This⁣ diverse pool of traders, investors, and market enthusiasts ⁤can provide invaluable perspectives, analysis, and recommendations that can help you⁢ maximize your investment potential. ⁢Instead of relying⁤ solely on your own research or ​the​ advice of a‍ few professionals, social media trading broadens your perspective and exposes ⁢you ‌to a ⁢wealth of ideas and viewpoints.

  • Real-time market insights: ⁤Social media platforms are a ‌hub of real-time⁣ information, allowing you to stay updated on the latest⁤ market trends, breaking news, and emerging⁢ opportunities. ⁢With instant⁣ access to a vast⁢ network of⁢ traders, you can ⁤quickly ‌identify and capitalize on market-moving events before others.
  • Data-driven analysis: With social‌ media trading, you ‍can leverage advanced analytics tools and algorithms to ⁣analyze vast amounts of data, uncover⁢ patterns,⁢ and⁢ make‍ data-driven⁢ investment decisions. From ⁢sentiment analysis⁣ to‍ trend detection, ⁢these tools enable you to cut ‍through‌ the noise and spot the most promising opportunities.
  • Community-driven trading ideas: Social ‍media platforms are bustling communities of traders sharing their⁤ insights, strategies, and trading ideas. By⁣ actively participating‍ in these communities, you can learn from experienced traders,​ discover​ new ‌investment perspectives, and gain a⁤ deeper understanding of market dynamics.

Unlocking new opportunities is a key advantage of social media ​trading. With the vast ​amount ‍of information ⁢and ideas circulating on social media, you can uncover ⁢unique investment prospects that‌ may ​have been ‌overlooked by others. The collective intelligence of ⁤the crowd can help you identify emerging trends,⁤ hidden gems, and untapped markets,‌ giving you a strategic advantage‍ in⁤ your investment decisions.

Take your social media trading experience ​to the⁣ next level with actionable recommendations.‌ In⁤ addition to⁣ the⁣ wealth of ⁤information available on social ⁣media platforms, you can utilize innovative tools that provide ‌targeted trading recommendations based on your investment ‌goals, risk‌ tolerance, and market​ preferences. These recommendations leverage sophisticated algorithms⁣ and machine‍ learning‍ to analyze patterns, identify potential‍ trades, and‌ offer personalized strategies tailored to your unique needs.

Key Benefits of Actionable Recommendations:
Time-saving: ⁤Cut through ‍the noise and focus on high-quality ⁤investment opportunities without spending​ hours researching.
Enhanced accuracy: Leverage ​advanced​ analytics and algorithms to identify ⁢trades with higher probabilities of success.
Customized strategies: Tailor your investment approach‍ to align with your specific goals, risk tolerance, and‍ preferred market‍ sectors.

Revolutionize your⁣ investments ⁢by‌ embracing the power of social media trading. By tapping into the collective wisdom of the crowd, ⁣you ​can gain a competitive‍ edge, uncover new opportunities, and make smarter investment decisions.⁢ Utilize⁢ actionable recommendations to ⁢streamline your ‌trading process and‌ achieve your financial goals with greater⁢ efficiency and precision.‌ Don’t miss​ out on the social media trading phenomenon – join​ the revolution today!

‍In a world where‍ information is at ⁣our fingertips, why limit your potential when ⁣it comes to investing?⁤ With the mighty force‍ of ⁤social media trading,‍ you hold the key ⁢to unlocking unprecedented opportunities that⁢ can revolutionize your investments.

Gone‌ are ⁣the⁢ days⁢ of being confined to traditional ⁤investment strategies, where only a select few had insider knowledge. Today,‍ the power lies in your ⁤hands, ⁤waiting ‍to be⁤ harnessed. Picture a world where ⁢you can tap ⁢into the‍ collective wisdom⁢ of millions,​ where ideas flow freely, and ‌profits surge like⁢ waves in the vast ocean of possibilities.

Social media ⁢trading⁤ is a game-changer, an electrifying phenomenon that transcends boundaries, connects minds, and fosters a​ community of like-minded individuals.⁤ It is⁣ a realm where every⁤ voice carries weight, where even ​the most novice investor can find their footing, and where⁣ the ⁣journey towards financial success becomes⁤ a ‌shared adventure.

Imagine⁢ joining a tribe of ​passionate traders who live, breathe, and sleep investing.​ These digital pioneers have honed their skills,‍ mastered the‍ art of interpreting market trends, ‌and are eager to ⁢share ⁤their knowledge with you. From day-trading strategies to ‌long-term investments, from forensic analysis to unearthing ⁣untapped opportunities, the possibilities are boundless.

Unleash the ‍power ​of⁢ social media ⁢trading and let it ​propel you towards unparalleled heights. Discover⁣ the latest ⁤news, expert⁣ opinions, and‍ real-time⁣ data from ⁢a ⁤myriad of sources ‌– all distilled ‍into ⁣bite-sized, ‌actionable insights that can ⁤shape your investment decisions. Imagine being at the forefront of breaking ‌news, riding⁤ the waves of ‍twitter trends, and staying⁢ one step ahead ‌of the ⁢market curve.

But social ‌media trading is more than just a vibrant platform for information‍ exchange; it is ⁤a‌ glimpse ⁣into the⁢ future. Embrace the‌ very essence of ‍innovation, where‍ artificial ​intelligence merges seamlessly with human intuition, providing ‌you ⁢with‌ a formidable ​edge.⁤ Automated algorithms analyze data, crunch numbers, and tailor ⁣investment strategies to suit your individual ‍needs. ‌The future of investing lies in your hands, guided by the cutting-edge technology that can amplify your gains and​ mitigate your risks.

So, dear investor, the time ⁤has come to⁢ embark on this exhilarating journey. Embrace ​the power of ‍social ‍media trading and revolutionize your ⁢investments. It is time to break free from the shackles ‍of the old ⁤ways and ⁢embrace⁣ the infinite possibilities‌ that‍ await. Harness the collective wisdom of the masses, ⁣leverage the advancements‌ of technology, and let ​your investments‍ soar‍ to ​levels never imagined before. The future is ‍here – will you ⁣seize it?

]]>
https://mktplace.org/revolutionize-your-investments-unleashing-the-power-of-social-media-trading/feed/ 0
Top 7 Forex Social Networks https://mktplace.org/top-7-forex-social-networks/ Fri, 09 Apr 2021 17:26:36 +0000 https://mktplace.org/?p=45896

Forex social networks represent a rapidly growing phenomenon in the realm of FX trading. These platforms empower their members to observe the trading activities of other individuals, both on an individual basis and collectively. The primary aim is to enhance their understanding of the market and glean insights into the trading strategies employed by others. In certain instances, these networks even facilitate the replication of trades executed by successful traders, albeit in exchange for a commission.

In virtually any other market, engaging in collaborative trading of this nature would be strongly discouraged. However, the unique dynamics of the retail FX market, which is significantly smaller when juxtaposed with the expansive inter-bank market, mean that the actions of retail traders exert minimal to no impact on the prices of currency pairs.

Remarkably, on the majority of leading forex social networks, approximately 50% of participants realize profits by mirroring the trades of others. This stands in favorable contrast to the broader statistic for the entire retail FX market, which hovers closer to 30%. Presented below are seven of the foremost social media forex platforms currently accessible on the internet.

Fotolia_551275_Subscription_L640-180x110

TradingView

TradingView stands out as the most recent addition among the Forex social networks highlighted in this discussion. Despite its relative youth, the platform has swiftly become a cornerstone for sharing financial charts within the trading and investment community. Traders on TradingView have the opportunity to convey their insights through intricate charts equipped with a variety of graphical tools, complemented by detailed text descriptions. The interactive nature of the platform allows other traders to subscribe to those who share their analyses and cast votes for the most noteworthy charts.

TradingView has earned acclaim for its chart gems, compelling many to visit the site periodically, even if they are not members or do not intend to become one. Regrettably, as of now, the platform does not provide automated trade-copying functionality. For those interested in chart pattern trading, my TradingView profile is also available for following.

eToro

With over 1.75m traders in its network, and more than 200,000 live accounts, eToro can claim to be one of the most popular Forex trading networks on the web, although it caters for commodities traders as well. Users receive $10 every time somebody copies one of their trades, and their trade copy platform has one of the highest success rates around.

MyFXBook

This is another very popular FX social network, with a huge community of traders. It does not require users to register in order to track the trades of others, and it does not differentiate between real and demo accounts. While it may not be as slick as some of the other websites on this list, the sheer amount of activity on the site more than makes up for this.

Forex Factory

For many years, Forex Factory has been the biggest and most active FX forum on the web. Recently, the site has been overhauled to include many of the features of a Forex social network, such as market sentiment socialisation and trading performance tracking with an in depth analysis. Given the size of the community that already exists on this forum, it shouldn’t be too much of a stretch for them to grab a sizeable chunk of the Forex social networking market over the next few years.

MeetPips

MeetPips, a derivative of the well-known Forex educational platform BabyPips.com, maintains a design coherence with its parent website. Notably, MeetPips distinguishes itself as the most visually attractive site within this compilation. It introduces distinctive features, including the capability to view a consolidated trading journal, trading plan, and trading statistics for each member.

Despite these positive attributes, it’s important to note that the analysis of trading statistics on MeetPips is relatively modest. Furthermore, the platform’s smaller member base and comparatively lower level of activity may diminish its appeal when juxtaposed with some of the more dynamic networks featured in this list.

FXSTAT

This website closely resembles MyFXBook but boasts a more polished design and a much more user-friendly interface. However, the primary allure of a social network lies in the size of the community and the level of social activity, and in these aspects, it falls somewhat short compared to MyFXBook. Nevertheless, as a tool for strategy analysis, it can prove to be quite useful.

 

]]>
Guide to Trading and Gamification Part 2 https://mktplace.org/guide-trading-gamification-part-2/ https://mktplace.org/guide-trading-gamification-part-2/#respond Mon, 22 Dec 2014 07:00:49 +0000 http://www.tradersdna.com/?p=32693

Continuing from where we left with the first part, the second part will focus on different examples of online trading and gamification integration and some investor based games to give you a better idea. We have already discussed the advantages of using gamification techniques in online trading and also briefly discussed the point of view of the critics. If you want to know about the details, you can refer to the part 1 of these series.

Gamification became a mainstream trend since 2011, and as predicted by 2015 50% of organisations that manage innovation processes will gamify those processes by 2015. Whether this prediction came true or not, we can deduce from the trading industry that introduced already different investing games.

Now, let us look at the different investing games and tools that could reshape and open doors to endless learning for new traders as well as experienced ones. It is highly recommended to play these trading games at least once or twice to see what the hype is all about. Many multinational companies are also using gamification for educating their employees.

Benefits of Gaming and Gamification

Gamification creates engagement that leads to employee development. The chart below reveals the specific skills that might be developed by employee through gamification.

Source: VenueGen

The employees learn more quickly and have fun doing so. They are able to retain more information as compared to the traditional methods of learning. Research also points out the benefits of using games to eliminate anxiety and depression. Some might go as far as saying that game can produce better results than medicine. All the neuroscientists and researchers on the field agree gaming could increase the retention power and increase concentration levels.

Traders who play trading games can build a strong network which is important and you can get instant feedback and rewards. Gamification offers a lot of potential for business applications. For traders and businesses, gamification offers an easy way to train, monitor and motivate employees. Businesses can engage customers to participate and keep them engaged. Individuals can apply the same things they learn from games in real–life situation, such as anticipation, problem solving skills and creativity. Here are some of the games you can try to polish your understanding of different concepts used in online trading:

Flick a Trade

Start with casual games, such as flick a trade, which is a gesture based trading game for Android and iOS devices. The game allocates different gestures to different commodities currencies and indices. You can play around with virtual currency but you will have to take time into consideration. The graphics will appeal to you and the game play will keep the player engaged. Not only this, but you can also share the fun by challenging your friends in the multiplayer mode. View your performance and share it on social media to show your friends.

World of Tradecraft 

Truly inspired by one of the most popular multiplayer online games, World of Warcraft, this game offers traders and opportunity to experience gamification of higher degree. It is a full-fledged multiplayer online trading game. Similar to World of Warcraft, this game also give you an option to work collaboratively in a team towards a single goal or get involved in one on one competition. As you move higher, new challenges, rewards and territories are unlocked which will push you to play well and play more. New traders will get the experience which could help them in real world trading.

Investing Apps

Some of the best investing game apps that took advantage of gamification are:

Trade Hero

It is one of the best virtual investing apps and works as a financial literacy tool as well. It engages users to improve their trading by using gamification. Users can create a virtual portfolio and compete with one another. You can comment and share you score on social media. The app is free to download but uses the in-app purchase model to earn money. There are many other features you can explore.

Stox

Another app worth mentioning here is Stox. It has a series of small lessons to teach you how to create online trading accounts. You will have to go through quizzes after you have gone through the lessons. Stox focuses on traders who are new to online trading and don’t know much about online trading. Stox app is available for both Android and iOS. Take a look at different indicators and do your technical analysis with a touch of gamification with this app.

These are only a few examples but there are countless others as well. These apps and games can enhance your knowledge about financial markets and improve trading skills which is beneficial for traders in the long run.

Relevant Posts:

Guide to Trading and Gamification – Part 1

The Gamification of Online Trading 

How “Tradimo Play” ApS integrates Gamification and Trading

]]>
https://mktplace.org/guide-trading-gamification-part-2/feed/ 0
Guide to Trading and Gamification Part 1 https://mktplace.org/guide-trading-gamification-part-1/ https://mktplace.org/guide-trading-gamification-part-1/#respond Wed, 17 Dec 2014 07:00:16 +0000 http://www.tradersdna.com/?p=32684

The trend of integrating two completely different fields to find a comprehensive solution to a problem is becoming commonplace. Scientists and researchers have experimented with it and have received positive results. Now, they are taking it to the next level. It might look odd to some of us but gamification and online trading integration is on its way.

In one of our recent posts, we reviewed the current trends of gamification in online trading and how it affects traders’ experience. 

Gamification

Gamification is a technique which applies game elements and mechanics on real-world situations. This emerging field has been able to capture the attention of many businesses because it produces the desired results for your business in less time by engaging your targeted audience to participate. Gamification is also used in many other fields with varied success rates.

Online Trading

The trading of securities online has become the norm after wider adoption and acceptance of internet. The popularity of online trading is on the rise as suggested by statistics and the trend is going to continue in the same fashion. Many new traders are also entering the market regularly after seeing the success their counterparts are enjoying in the field.

Integration

Efforts are underway and some positive results have also been achieved which will further speed up the process of gamification of online trading. Most traders who are experienced hang out in chat rooms and forums to keep themselves updated but they neglect the booming platform of social media. New traders, who want up to date information but do not know where to look for it and lack the required knowledge to succeed in online trading, will find this useful.

Using game elements or developing tools and technologies that could help online traders in their quest to success can play a crucial role. Social media can be involved to make things easier by sharing the latest news and articles to help investors make the right decisions. There should be a review and ratings method followed to rate forums which makes it easier for traders to select the best forum to get the knowledge.

Some people are in favor of gamification of online trading while others criticize it by saying there is a huge difference between real world and virtual situations. A real world loss could cost you money but a virtual loss would not hurt you that much. Irrespective of what both parties say, gamifying online trading has turned into a more engaging and enjoyable experience.

Many trading services, such as eToro, have experimented with social media and game elements. The flexibility to experiment in the game and learning different things without putting your hard-earned money at stake is the biggest advantage gamification of online trading can give to traders. Using virtual funds in games will help you learn and experiment with different things that could prove to be handy when you trade with real money.

Many people who don’t like games only look at one side of the picture to shape their opinion. They only focus on health issues and other problems associated with gaming and completely neglect the positive side of gaming. You can learn a lot regarding stock investing. There is even a social platform called Cloud Stock where you can test your investing skills while at the same time competing with friends. Recommend stock to your friends. Invest with your friends and see who can earn a better return.

If used properly, gamification can be used as an educating tool to teach new investors the tricks that could make them more capable of doing well when making investments in the real world.

Another common mistake made by traders who are new to this field is to follow the footsteps of famous traders who are earning more profits. This might or might not be fruitful for new traders because it purely depends on the situation.  This problem is solved by using gamified investor tools which can help young investors to check whether a strategy would work for them in particular situations or not without risking their money.

Now, you can easily get access to relevant material to get the help you need but you must know where to look for it.

 

Relevant Posts:

The Gamification of Online Trading 

How “Tradimo Play” ApS integrates Gamification and Trading

]]>
https://mktplace.org/guide-trading-gamification-part-1/feed/ 0
Why Twitter And Social Media Are Part Of The Future Of Trading? https://mktplace.org/twitter-social-media-part-future-trading/ https://mktplace.org/twitter-social-media-part-future-trading/#respond Mon, 10 Nov 2014 15:00:48 +0000 http://www.tradersdna.com/?p=32481

 

There is no doubt about the fact that we have now transcended into an era of mass digitization, technology and convenience. There have been some vast improvements in technology if you compare it with the earlier years. These changes, however, have also affected the financial market and communities. There have been numerous successful advances which have led to greatly impacting the financial world in a positive manner and in a manner which has guaranteed the industry’s prosperity in the coming years.

Below is the one of the latest infographics on the growth of Social Media, by Social Recruiter Guide:

And because of the ease of communication between people granted by this technology, it has had a far-reaching implication on how traders communicate in the financial world, especially when you talk about the democratization of equity markets. In simple words, less and less traders now trade from trading floors. Instead, they now use various social media platforms to conduct and discuss their trades with other traders.

The Role of Social Media in the World of Trading

There is no doubt that traders now use different social media platforms to encourage and conduct calculated stock trading, but why is that? The answer is…

The Mass Psychology Factor

It is important to understand that the prices of any stock are influenced in par with the psychology of the people. Social media networks, like Twitter and Facebook, have greatly increased and optimized your ability to talk about trading strategies, exchange opinions and share all the news relevant to any trade. So, as more people tend to join different social media networks like LinkedIn, Twitter and Facebook, the spread of information will increase drastically.

What this would do is make all the relevant information available for traders easy to be shared with all the users of the social network, reducing the time involved in implementing traders’ reactions to changing market trends and conditions. And at the same time, traders will experience a reduction in the time it takes them to respond to an opinion pertaining to any trading situation. For example, if there are rumours around a stock circulating in the financial markets and there is no information that could back this rumour, the social media users will take this rumour as a fact, hence increase the mass psychological factor.

Social Media Platforms Attract High Volume Trading Companies

You’d be surprised to know how many traders are beginning to change the way they think about various market trends. Various social media companies now pay Twitter for access to its vast information hub which comprises of data which can be used to influence the markets. The same social media firms also employ text analysis processes to evaluate and apply that data (which by the way consists of hundreds of millions of tweets).

In light of this, if these trends grow and social media platforms expand, it will most definitely (and they have) attract the attention of high volume trading companies and firms. Trading companies can benefit greatly from the information they get from Twitter and can use it to determine various social trends bouncing in the financial markets. These companies can also use the information to find out whether or not there is considerably volatility in the trading markets. This information is invaluable as they can also use it to confirm their sophisticated algorithms.

A good example can be the recent fall in stock prices when it was revealed that the Twitter feed of the Associated Press became a victim of the notorious “Syrian Electronic Army”. Their feed got hacked and the news caused a 140-point drop in Dow Jones, which in turn caused the market to lose approximately $200 billion.

This could be prevented through the use of algorithm trading and traders won’t have to fear any volatility caused by unwanted activity in the market. If you think about it, the stronger this information stream continues to grow on social media platforms, more people will begin to use the data to start trading without any hesitation.

Filtering billions of messages and tweets everyday would help trading companies to understand what directions the market would end up moving towards in the future. There is no question regarding the fact that billions of people use social media frequently and are growing less reliant on other types of media and because of this massive but productive change in communication, trading in the future will also experience a big change and there is no denying that.

]]>
https://mktplace.org/twitter-social-media-part-future-trading/feed/ 0
Crowdfunding and Social Trading https://mktplace.org/crowdfunding-social-trading/ https://mktplace.org/crowdfunding-social-trading/#respond Thu, 16 Oct 2014 06:00:57 +0000 http://www.tradersdna.com/?p=32301

Basically, social trading is referred to as ‘copy trading’ or ‘mirror trading’, it is a concept which comprises of ‘coping’ another traders’ strategies and methodologies to make successful trades, preferably of those traders who have been in the game for a long time and have amassed considerable experience. Social traders basically use a barrage of different online trading platforms to mimic consistent trading outcomes over a given period of time. So, in other terms, they mimic other traders who repeatedly make good trades.

In the Forex market, such successful traders are known as ‘lead’ traders. In social trading, what happens is when one of the lead traders place an order to sell or buy in the market, the exact same trade is displayed and managed on a social trader’s account.

Over the last ten years, social trading has seen a rise in popularity, specifically in trading areas like Forex and binary trading options. However, it is still a fresh trading trend. Social trading has seen a surge in popularity because of the massive increase in different markets has balanced the field and the trading information that was once only available to a few larger groups of traders in the market can now be accessed by all sections in the trading market. But a disadvantage of this wide reach of information is that traders who do not possess the experience or the necessary aptitude to trade and those who trade on minimal communication networks always tend to lose a significant amount of money.

However, the advantage of this situation is that now traders can discuss trading ideas and strategies with one another and view the current trading environment and the Forex markets from different perspectives. Although, there has been a downfall of this in retail trading when everything shifted to laptop and computers, there have been several outlets which have identified this problem and introduced social media networks to allow traders to discuss various different trading strategies with each other through their smartphones, tablets, laptops, etc. They now have the power to figure out the impact of different market events, thus allowing other social traders to copy prominent traders in the market.

Eliminating the Bias

Another advantage of social trading is that when you take trading and make it accessible to a wider group of people, not just individuals but to a community, you enable the members of those communities to trade without having to resort to personal bias which could lead to loss upon loss.

Moreover, when you add crowdfunding into the equation, it becomes much easier to target different groups to promote social trading by developing more social trading platforms which both teach and allow traders to trade efficiently without making silly mistakes. So, when traders come together as a team and a social group, it makes things far easier for them, especially when discussing how to approach a market, how to evaluate it and make good profits.

Understanding Majority Response

In order to build and act on a potentially lucrative trading idea, it is important you consider the sentiments of the majority actively participating in the trading markets. The strict reality of investing in stock is that you can indeed have a logical, analytical and a knowledgeable approach to a specific trade.

However, if a majority of the traders in the market do not favour that stock or strategy, your methodologies will amount to nothing. When you trade in complete isolation, it can become extremely complex to gain different perspectives in the market, especially of other traders. The only way you can eliminate this problem is engaging in a more open environment with other traders.

This surge in social trading and the emergence of social trading platforms is the immediate expression that signifies the need for discussions among investors, both rookie and professional, so that they can work out strategies resulting in a win-win situation for all.

Social trading platforms have indeed gained a massive recognition and enjoy a good reputation in the market which proves one thing: it is still a good idea to discuss and conduct considerable research of different reviews and trading testimonials before you actively participate in the market using any of the available social trading platforms. In any case, the merits of social trading are plenty, especially if you compare them to the disadvantages of isolated trading in a market which is expected to expand in the coming years.

]]>
https://mktplace.org/crowdfunding-social-trading/feed/ 0
The Power of Social Media: Influencing Trading and the Markets https://mktplace.org/power-social-media-influencing-trading-markets/ https://mktplace.org/power-social-media-influencing-trading-markets/#respond Wed, 24 Sep 2014 06:00:16 +0000 http://www.tradersdna.com/?p=32114

It is no surprise that social media is expanding exponentially and it’s influencing trading. Just look at how Facebook has turned out since it was created in 2004. It now has over 1.3 billion users worldwide. Twitter generates over 500 million tweets every day and LinkedIn has over 260 million active users, trying to make new connections and to find jobs every day. If you look at social media from a broader perspective, you will see that it has come a long way and has significantly aided people in accomplishing things that otherwise would not have been easily possible. It has become a vital pipeline for thoughts and actions, and words and decisions pertaining to everything.

As a result of such growth, there are some bullet points that might be important for a trader in order to understand the scale of potential information flow:

Looking at it from another point of view, you will notice that social media has become the combined load and barometer of ideas, thoughts, and impulses in regards to the entire world. It has also served to be a combined source of wisdom, observation, and emotional reactions for those in the financial markets, such as asset managers, traders, investors, and equity analysts.

The Extenuating Effect of Social Media on Daily Trading

Social media has allowed traders to conduct trades privately without being influenced by anything. The main difference between social media platforms for trading and a traditional offline social surrounding is that in the latter, you are more exposed to the decisions and the influence of other traders. Social media saves you from conducting misinformed or ‘low information’ trades or from following bad investment advice and decisions. For example, it helps you not to make rash decisions based on what your friends say about a particular stock, and how you should invest in it.

Social networking platforms provide traders with a complete net of streamlined information, which allows you to analytically consider a wider range of possible trading scenarios. For example, while a couple of your friends made money by investing in a certain stock, the majority of your friends and colleagues lost money investing in the very same stock. So it is likely that this information will suppress your immediate emotional response, which is to buy those shares, and instead, you will decide to forgo this opportunity, which is a considerably better option.

High End Investors Seek to Utilize the Benefits of Social Media

According to a study which was a made a couple of years ago by LinkedIn, with the help of the Cogent Research Group, it was identified that various social media platforms were being used by high trading net worth traders of about $5 million belonging to North America. It was discovered that they used social media to help them with make critical trading decisions. It was also realized that those investors have made social media their prime tool for decision making.

Retail Trading: Becoming One with the Global Investors

While using different social media instruments to predict various market trends, retail investors can depend on various resources for accurate information pertaining to the market. The goals of individual retail traders totally differ from those of professional investors and traders. Retail traders thrive by working as a network which helps share and spread market related information and ideas. And, what better platform is there to share and gather ideas than social media? Thus, it makes for a natural breeding place for retail traders to become an integral part of the trading community.

Just look at Facebook’s trading application for potential investors, called Zecco’s Wall. The application is streamlined to allow investors and traders to monitor their stocks and to buy them via the application anytime they want to. The application has made access to a much larger network of information very easy for all traders.

Also, via social media, there are many online traders who can interact with other online traders with similar trading portfolios. This allows them to improve their trading together while participating in collaborative successes.

No trader in this day and age can say that social media has not helped them attain financial prosperity in one way or another. Social media has had an extremely powerful influence on the way traders choose to analyze and assess potential investment opportunities. With that being said, it is important to realize that one has to iron out the disorganized nature of the trading information available on and attained via social media networks carefully. In order to make effective use of it, it has to be diligently filtered because of the massive amount of information present, which can prove to be misleading if not analyzed properly.

]]>
https://mktplace.org/power-social-media-influencing-trading-markets/feed/ 0
The Gamification of Online Trading https://mktplace.org/gamification-online-trading/ https://mktplace.org/gamification-online-trading/#respond Sat, 20 Sep 2014 07:00:49 +0000 http://www.tradersdna.com/?p=32074

The consistent rise in the popularity of online trading and investment has been matched by the excitement of the general population displayed in using instant messengers and social media platforms. It is important to realize that both online trading, the gamification of online trading and social media function hand in hand with complete synchronicity. How? Well, the simultaneous and immediate messaging functionality of online platforms and networks allows traders and investors to discuss and exchange relevant and new information with each other right up until the second they initiate a trade.

The internet has been around for a long time now, right? You would be surprised to know that many trading enthusiasts have been using chat rooms and other forms of online messaging to stay in the loop, sharing tips, chewing over which stocks are likely to make them money, and which ones they should stay away from.

On the other hand, online brokers have started to increase their target audiences beyond the traditional day trader setting and have begun reaching into a segment of the population which hasn’t yet been exposed to the share market past the odd bank stock or managed fund investment.

In trying to interact with this huge market, online trading has started to resemble an extension of role playing games. This is due to the nature of online trading as it entails making real life decisions to change something, for example life savings, incurring loss, and increasing wealth.

There are more than half a million Australians who actively use online trading platforms to trade shares and several of those online trading platforms expect the number to increase exponentially in Australia, as well as in the US. According to a recent report by the Common Wealth Bank of Australia (CBA), it was identified that the Australian share market might grow to three million traders.

Gamification & Trading

Mike Hamm, a frequent online trader, has experienced the rise of gamification of online trading over the preceding five years. Hamm is mostly engaged in active online trading and has a trading portfolio of over $100,000. His trading experience and the knowledge that he has gained over the years has also led him to creating his own trading blog named 5000trades.com

According to Hamm, social media networking has played an instrumental role in helping people interact with the stock markets in a more reserved and shallower way. In the past, vital trading tools consisted of exclusive access into the Bloomberg terminal or in the least, subscribed access to different broker reviews and reports.

But things have changed considerably, and now most trading decisions are made online via different articles posted on Facebook and Twitter.

According to the chief executive of Bell Direct, Arnie Selvarajah, steps are being considered for the gradual gamification of the entire world of online trading. However, Arnie has his reservations pertaining to the idea of making it too easy or too game like for traders because there is a potential for clients to lose money.

Stephen Karpin, who is the general manager of equities and margin lending of CommSec, says that bringing together the tools for effective trading and infusing the power of social media to make disparate information viable to daily traders could be very useful. In attempting to harvest all the tools of the ‘trade’ together, many people who have never traded in the share market will also do so actively.

However, there is also a growing need to facilitate part time traders with valid information from the stock market. Good online trade forums should have a reliable method of rating the viability and the quality of good trading information. For example, take Hotcopper, which has a thumb up and thumb down feature, allowing traders to go through good and bad trading information.

Websites have to consistently do well in search engine rankings and have to make it to the top so that more traders could enjoy viewing credible information, basing their trade decision on the news they read.

However, it is important to realize that online trading still functions with the same rules. Trading and investment decisions are still being made based on either signals or noise in the market.

The Bottom Line

The gamification of online trading is a gradual process, but with that being said, it is also important to note that social media networking has laid a powerful foundation for it to commence and spread quickly in the near future.

]]>
https://mktplace.org/gamification-online-trading/feed/ 0