How Social Media Affects the Markets
Back before the Internet, people generally make trading decisions based on discussions with brokers and subscriptions to things such as financial and stock newsletters. However, the Internet has changed all of that. Social media exerts a powerful influence on markets and any trader who wants to maximise their chances should pay close attention.
Social media trading
One of the strongest influences over the last few years has been social media trading. While this has had an influence in most markets, the strongest effect has been in forex. Social media platforms let traders share ideas, watch other traders make trades and learn from what works and what doesn’t. There’s been an explosion of social media trading platforms over the last few years. However, if you’re looking to join a social media trading platform, then you should look for ones that have a good reputation. Some are just a way for brokers to attract new traders, whereas others deliver real value.
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