What is Online Social Trading | 2021 Guide & Definition

What is Social Trading

April 9, 2021
28 days ago

Trading is a profession that requires a lot of time and attention. And as we do not always have the possibility to study each market in depth, we can opt for a big alternative which is Social Trading.

What does it consist of? Before the advent of social trading, investors and traders relied on technical and fundamental analysis to make investment decisions. Now, investors and traders can study different data sources in their investment decision-making.

Social trading is a community of users that works in the same way as social networks but around the investments that each one makes.

On these social networks, users can share what stocks they have invested in, the returns they have obtained and their impressions of the stock.

These platforms are the ideal place for beginner traders, or people who have less time, to make their investments. In this way, it is possible to learn from other professionals easily, about their strategies, thanks to charts, references and opinions.

Beginner traders can even copy the most successful expert traders automatically.

This is a new method of analysing financial data, providing space to compare and copy technologies and strategies.

This innovative phenomenon is born from Copy Trading and Mirror Trading: - CopyTrading is when a professional trader links their trades to a platform that reads and evaluates their results, and then shares them. You, as a user, can select which profile to follow, with the idea of copying their trades. - Mirror Trading, on the other hand, consists of replicating the trades, previously programmed by the trader, but in an automatic way.

As you may have seen, Social Trading offers more information than its predecessors. As it works like a social network, you can better identify which profiles you are most interested in following in order to learn and continue improving as a trader.

If you are considering it, we recommend joining Naga where you can learn from the best traders and get better returns.

Comments

THE SOCIAL TRADING REVOLUTION

Learn about Social Trading

Social Trading is a new system that gives everyone access to the world's best traders. You can follow top traders and automatically copy their trades. You make money when they make money with no trading expertise required. This is the Social Trading revolution.