In social trading we trust?

[Magos]

There have been a lot of discussions around social trading over the past few years :smart:.
I am wondering is social trading true social? or people are taking advantage of this service i.e. churning, high fees, etc.:-0?
If I get to choose to be a social trader which network can I trust and why?

 

[annedre]

Social trading gives those with limited financial knowledge an insight into the stock exchange by allowing a real time analysis of individual trader performance. Seen as one of the most significant shifts in trading, social trading has the potential to open up opportunities for those interested in stock markets.

 

[gerryg]

Yeah it is a good option for those who wants to make investments in forex and have lack of knowledge to trade himself. Just form of investing with more risk and high progit.

 

[Magos]

Social trading gives those with limited financial knowledge an insight into the stock exchange by allowing a real time analysis of individual trader performance. Seen as one of the most significant shifts in trading, social trading has the potential to open up opportunities for those interested in stock markets.

What will it take for you to invest your money on a trader, how do you gain competence?

What do you look in terms of individual trader performance?

 

[Zmark-trader]

There have been a lot of discussions around social trading over the past few years :smart:.
I am wondering is social trading true social? or people are taking advantage of this service i.e. churning, high fees, etc.:-0?
If I get to choose to be a social trader which network can I trust and why?

Social trading does not provide you with any edge as far as trading. Either you looking at the masses following the trade, or going against it and being a contrarian.
Either way, you could get crushed and self churn without the proper risk management. This is not the way to become a self directed independent trader. Just MHO

 

[Magos]

Social trading does not provide you with any edge as far as trading. Either you looking at the masses following the trade, or going against it and being a contrarian.
Either way, you could get crushed and self churn without the proper risk management. This is not the way to become a self directed independent trader. Just MHO

Why should social trading give you an edge?
Your either way speech sounds a bit depressing! OK then, If you could rebuild social trading from scratch what would you change?

 

[robertofx]

There have been a lot of discussions around social trading over the past few years :smart:.
I am wondering is social trading true social? or people are taking advantage of this service i.e. churning, high fees, etc.:-0?
If I get to choose to be a social trader which network can I trust and why?

In forex trading, it is always better to follow your trading style. You can learn from other. But when it's come to trading this is not the same. I had several bad experience with local trading communities.

 

[Magos]

In forex trading, it is always better to follow your trading style. You can learn from other. But when it's come to trading this is not the same. I had several bad experience with local trading communities.

Credibility on social trading communities is not something we should be proud of!
I guess you might be right on following your own trading style.

The idea though is how we can change social for the best..... what does it take to trust someone to invest your money (in trading).