A lot of buzz has been going on around social trading these days. But what is really social trading? Social trading is a process which facilitates market analysis via user generated financial content gathered from a variety of Web 2.0 applications as the main information source for making financial decisions. Basically, it is a new form of network trading so to speak, as it allows you to see what other traders have traded, while it gives you the unique opportunity of learning from more experienced traders. Not only that, but you can also literally “copy” their trades (which is an exceptionally useful tool to novice traders). Practically it is a new way of analysing financial data by providing a fully transparent ground to compare and replicate trades, techniques and strategies. Before the emergence of social trading, investors and traders were relying on technical and/or fundamental analysis to make their investment decisions. However, this approach was somewhat limited in that traders and investors were not able to integrate social indicators into their decision-making, or in other words, they could not tune in to the market sentiment, which sometimes led to their failure. Well, not anymore, risky as operating with financial instruments might be, social trading seems to shed a totally different light on it and tip the scales in the trader’s favour more, holding promise of success. Additionally, social trading gives less experienced traders the opportunity to learn from savvy investors and technical and fundamental analysts.
That is the major reason why since the launch of social trading platforms at the beginning of 2010, the number of fintech companies incorporating these almost fail-safe tools into their trading offerings grew exponentially, with some even acknowledging that social trading helped them retain a significant number of their old clients while attracting less trading savvy newbies.
Want to give it a try? Hurry up and open an account now, fund it and start trading. Whether you’re looking to boost your income or seeking opportunities to make money online, this is the perfect chance to do it. Are you a sit-at-home dad or work-from-home mom? If yes, this is an excellent opportunity to skyrocket your measly income. Be one step ahead of your peers and trade socially!