New traders should be on Social Media. Twitter, Facebook, Linked In, tumblr, YouTube and Instagram can all be very useful for traders if they are used correctly. Here are seven reasons why we should spend time on these sites.
- Traders mostly use social media to connect with other traders. Today, people can trade from home. It cut off a gap that used to be filled by other traders on the exchange floor. Online, you can have a lot of fun even if your family and even your friends think you’re crazy.
- New traders use social media to learn how to trade. It’s a huge time saver to get advice from veterans who have already been down the same path and made money. You can learn about everything from charts to blogs to articles to e-books for free. You don’t have to pay for any of it!
- There are a lot of traders who like to post live trades. This can be very useful for learning about a trader’s methods and for showing off live trading skills. Live trades can help you learn about parameters for when to enter and exit and how much risk to take. Even so, a trader should not blindly follow another trader’s trade without knowing his risk level or time frame. This can be very dangerous.
“Always use Social Media as Learning platform”
- The best thing to do is ask for advice on specific training programs, trading books, brokers, trading systems, and trading methods. You can do this on social media. Usually, if you ask a simple question that you need help with, you will get a lot of help.
- After a bad trade or a bad run of bad trades, it’s great to have trading buddies who can tell you about their losses and keep them in perspective. They understand what you’re going through, even though you don’t believe you can do it.
- connections: In the modern world, social media can lead to jobs and other things that come from a friendship and getting to know someone. I know this because I used social media to get a job.
- When there is drama, it can be fun to watch, just like reality TV is for some people. As well, many people have a good sense of humour, and I find myself laughing out loud every day at the funny things I see.
- People who trade on Facebook are very friendly, helpful, and knowledgeable. There are groups for new traders, rich traders, and good traders, and they all help each other out a lot. To make this group even better, it wants to connect new traders with people who have been in the business a long time. Shared knowledge is what will help all traders move up to the next level in their trading.
Also read