Social media has been an important part of life for the best part of a decade, and gradually, we have become more sophisticated in what we expect it to do.
Initially social media allowed us to stay in touch with people we knew and connect with them better, and then make new connections with people we may not otherwise have met, and allowed us to broadcast what we knew and thought about events in real time. It has now become our go-to source of news, information, advice and entertainment, and the place where we craft much of the image the outside world sees of us.
Where in the past people may have commented on how strange it felt to find out about the death of a celebrity like Michael Jackson on Twitter, in 2016 it seems that almost everybody first heard about the passing of David Bowie on their social networks, and saw nothing odd about this.
Social media affects how we do things, as well as how we stay up to date with personal and global news. It has changed how we think about getting good customer service and making buying decisions, how we play games, how we organize events, how we raise money for causes or projects, and how we promote the things we do.
It is no surprise then, that it has had a big effect on investment over time. There is proof that investment decisions are impacted by social media, and this is not really surprising given how it permeates everything in life and makes news hard to play down.
One of the interesting positives of this is that it has made investing, something that was perhaps seen as a bit of a specialist field that you could only do well in with a lot of knowledge, a lot more accessible to people who have always wanted to get involved, but found the prospect too daunting.
Thanks to social media, if somebody decides they want to start investing, whether they like the sound of stocks, forex, binary options, or are not even sure what kind of investing they want to do, they can tap into communities of people who are constantly sharing advice, explanations and tips. Rather than having to become an avid reader of the Financial Times or the Wall Street Journal, a beginner can also learn about current trends or factors affecting their investment scene through outlets of their choice, whether it is blogs or the social media accounts of people they trust on these matters.
Research has also become far easier. Rather than only having access to the potentially skewed views of events that may impact a business or the stock market or a forex pair available via their own country’s mass media, an investor can look at what people all over the world are saying about a story or option. But it doesn’t stop there…
As well as being able to learn everything you need to trade with relative confidence as a beginner and seek help and advice from experts, new traders can also literally mimic what seasoned traders are doing. While this only applies to binary options, where the purchase of an option doesn’t ultimately affect the share price or currency value, it can be an interesting way to get started without having to become an expert in the markets you are dealing with. Social trading platform Copyop has made this a possibility for investors, by offering a community where people can copy the binary options trades of people with a good track record, and potentially make money themselves in the same order as these highly knowledgeable traders.
Of course, however, you enter the world of investment and whoever you have on your side on social media, there is an element of risk involved. However, being able to invest your money without the nagging doubt brought on by your own inexperience can make starting out in trading using things like Copyop a lot more appealing than going it alone.
Whether users are trading using social platforms to model their strategies on other investors, or are simply using social media to learn what they need to know to plan their own moves capably, it is clear that social media has lifted a lot of the mystery around getting into trading and investment, and given more people a chance at a slice of the pie!
This article is written by Boris Dzhingarov. He graduated UNWE with major marketing. He writes for several sites online such as Tech.co, Semrush.com, Tweakyourbiz.com, Socialnomics.net. Boris is the founder of Monetary Library and Dzhingarov. Follow him: Google + | Twitter | Linkedin.
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