It’s Time to Get Social About Money
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Social Trading opens a financial realm that was previously ‘off-limits’ to the average financial investor. The opportunities of Social Trading are now available via the internet. Social Trading first emerged approximately four years ago and is changing the manner in which everyday investors conduct business. Rapidly growing and seditious to old methods of investing social trading is acquiring a foothold in the financial markets. Individual investors can now try the web-based forums to check out what the successful investors are doing, in real-time. Social trading allows consumers access and independence without the fee-based expertise that was formerly the way that individuals made financial investments.
What is Social Trading and Who Does It?
Social Trading is quite similar to the concept of social networking on platforms such as Facebook, Twitter, and LinkedIn. Social Trading however, possesses the added dimension of meeting and sharing insight, knowledge, and information for specific intent of financial investments. Social Trading allows users to connect with millions of network members and obtain real-time trade information via live streaming data. Another way to conceptualize Social Trading is to consider the term ‘social financial analysis’ which is essentially the ability to access important financial trading information, insight, and wisdom that minimizes the time an individual would otherwise spend researching the markets on their own accord. In addition, the money saved on fee-based advice or expertise can be utilized for investment purposes while enjoying the free exchange of the wisdom of multitudes. Social Trading also offers the opportunity for individual to engage in an individually-paced ‘apprenticeship’ of sorts as they learn the ropes. The art of investing is made available to anyone in a collaborative ‘social’ environment.
Get Wide Open Access to Financial Trading Insight from the Pros
The trend in social trading participation is young but gaining momentum. According to journalist and financial advisor Andrew Gluck social trading will likely alter the way most investors have previously operated. In the 1990’s online brokers revolutionized the way Americans invested money, now the 21st Century Social Trading platforms open financial investment doors to a whole new revolution – the ability for individuals to become independent in their financial investing practices, with the support of a network full of individuals that are taking their financial success to a new level. Various social trading sites host both amateur and top earning traders alike. There is no shortage of successful traders that can be followed and even copied by other traders. Investment platforms abound and eToro is one of the ranking social trading networks. Traders that are worthy of the criteria set forth by each platform will be recognized as community leaders, or gurus.
These gurus acquire followings of fellow network members who seek to profit as they do, and literally copy the actions taken by their chosen investment guru. It is wise practice to set limits on the duration and open positions of trades, leverage required, and the level of risk. Find top performing traders that exhibit strategies that you feel comfortable with, and focus on currencies in forex trading/stocks trading to acquire familiarity. Good traders always study the profits and losses over time, before copying their chosen guru. Oftentimes the platform will promote membership with a free sign-up. Some platforms will offer practice money in order for the member to make trial runs before dipping into the real deal. There may be a minimum investment amount set at some sites too. It is easy to get started with social trading and it could dramatically change the way you view social networking and money management in the future.
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this post has been viewed 35 times