Svenska daytraders twitter
This tutorial explains how to use Twitter for trading , from accessing breaking news to the best trading accounts. We also unpack the pitfalls to avoid when trading with Twitter. Trading on Twitter is risky due to fake news and misinformation. Instead, consider brokers with s ocial trading. These platforms allow users to interact and exchange ideas, similar to Twitter, but they are designed specifically for online trading.
Twitter began its life in during a brainstorming meeting held by board members of a podcasting company, Odeo. The original idea came from Jack Dorsey, then an undergraduate student, who envisaged an SMS service that could be used to communicate with a small group of people. Financial Twitter , or Fintwit , is the name for the global community who use Twitter to discuss all things finance, investment and trading related.
A related Twitter community, Crypto Twitter , uses the social media site to discuss everything related to cryptocurrencies. Crypto Twitter has been instrumental in generating the hype that has sent tokens to stratospheric price gains, as well as popularizing crypto-adjacent assets such as NFTs. With presidents, CEOs, billionaire business owners, day traders and finance scholars among the millions of users tweeting every day, Twitter offers some useful content for online traders.
Before social media, retail traders were limited to the analysts on the television, print and radio sources available to them.
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With Twitter, you can find and follow a much broader range of opinions, allowing you to hone in on analysis of the specific markets, assets or instruments you want to trade. If your trades involve a specific country, region or currency pair, political analysts or journalists from the relevant countries could be useful sources for analysis. Likewise, tech journalists, experts and academics can help you get a head start on the newest products or companies generating market buzz.
You may also find staff and even CEOs of companies you are interested in on Twitter, and following these can help you evaluate whether you want to invest or not. Follow experts who offer insightful advice or have a unique perspective on one of your areas of interest and note the accounts they interact with for hints of who else to follow.
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Some Twitter personalities are also quite responsive to questions from their followers — so you might be able to get their opinion on a topic of interest by tweeting at them or joining a Twitter Space they are involved with. However, virtually anyone is free to post their opinion on a market — this does not necessarily make them a credible voice nor does it mean the content they post is accurate.
Twitter provides a place to research and follow trends thanks to its hashtag and cashtag functions and powerful search tools. Searching for keywords or hashtags will give you an idea of how popular a topic is, but it will also show you who is talking about it and what they are saying.
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Some of the most significant trading events in recent years have been driven by trends on social media. The rise of meme stocks like GameStop in was a striking example of this, as were the huge gains made by popular crypto tokens such as Dogecoin , driven in large part by meme posts on Twitter. They could be about an upcoming vote or another anticipated news event that will have a knock-on effect on markets.
If you have a significant vote coming up, for example, Twitter can be useful for gauging the public mood and could help you plan trades that may be affected by the outcome. Importantly, this is not a scientific method to forecast upcoming events, but it can be useful to traders alongside supplementary analysis and specialized trading tools. Traders can navigate from Twitter to their eToro account to trade an asset with one click.
How To Use Twitter For Trading
It can take hours for stories on breaking news events to be published on traditional news outlets, but on Twitter as long as someone is present and tweeting, you can reach them instantly. Likewise, important announcements related to business often break first on Twitter, be it through a journalist tweeting from the scene of a negotiation or from an important figure tweeting themselves.
A good example of this came during the Brexit trade negotiations between the UK and EU, as political correspondents were usually the first source of news on the progress of talks, and they often tweeted their impressions before filing them in a news story. This can be useful for day traders, as it could allow them to catch the beginning of a profitable trend or reversal early.
The flip side of this is that Twitter is also home to a great deal of misinformation — the notorious fake news — as well as popular accounts that may be tweeting sincere impressions but getting them wrong. Traders should practice caution and ensure they trust the source before acting on breaking news they find on Twitter. Like any other tool, Twitter needs to be used correctly to get any benefit.
And using this social media site irresponsibly when making trades can be dangerous. For every trustworthy expert or honest trader, there is at least one bot account or shill looking to promote a worthless stock or crypto.