PostHeaderIcon Social Networking for Clueless Traders

Social networking has become a popular activity among online users. In fact, it may have become the most popular online activity that people engage in when they get connected to the World Wide Web. And it seems that social networking may not only help people get in touch with people all over the world and build connections, beginner traders may also benefit from social networking as they try to learn the ins and outs of online trading.

For beginner traders and do-it-yourself investors, it can be a pretty hard climb towards succeeding in stock trading. For one, inexperience may not do them well in a market that may also be considered as high risk.

One way to combat inexperience is to learn more and more about stock trading and market basics in order to get the feel and the right tools to make better trading decisions. What could be better to learn about trading basics than from fellow traders? This is where online social networking may be able to help.

Brokerage firms with online presence

Zecco and TradeKing, two brokerage firms with an online presence has started an online community for clients as well as for individual do-it-yourself investors and beginner traders who may discuss and offer trading and stock market advice to each other.

The two brokerage firms are considered to be the first among various brokerages to offer online social networking on their websites. These online communities do more than just offer a means for online traders to discuss certain trading issues and offer advice.

They now allow community members to reveal their portfolios to others as well as provide performance ratings among the top achieving users.

Online community

As an online community, the relatively new social networking for traders can especially be very beneficial to small-time do-it-yourself investors at the stock market.

Because of their stature, small-time individual investors usually have no access to certain trading information that may help them better evaluate certain stocks to make more informed decisions.

Through social networking, online traders now have the means to interact with fellow trader members of the online community who might be owners of a certain stock to inquire how they might be performing.

The advice as well as the knowledge learned through such online social networks may provide additional information that will help even beginner traders make better informed decisions.

Not only that, the online communities on Zecco and TradeKing also provides performance ratings to its community members to see who performs and makes the best deals. This adds a little competitiveness among members that can motivate them to become even better at stock trading and investing.

It is one of the good reasons how social networking online may be able to help a greater number of people interacting and helping each other out.


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