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              Swoon-worthy modern living rooms

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              Nifty tricks for saving big on meat

              The Smart Cookbook Changing Lives

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                Four Tips For Creating a More Functional Living Room Space

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                Shoot and Edit Amazing Home Videos This Winter Season

                Shoot and Edit Amazing Home Videos This Winter Season

                Travelling to the US? Hot tips on finding the best car insurance

                Fast home organisation tips for the kitchen

                Fast home organisation tips for the kitchen

                Working from home with kids

                Working from home with kids

                Grow an amazing garden

                Grow an amazing garden

                Laundry lick of love

                Laundry lick of love

                Swoon-worthy modern living rooms

                Swoon-worthy modern living rooms

                Your Dream Kitchen Including Appliances for Under $5k

                Your Dream Kitchen Including Appliances for Under $5k

                Home Page New

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                Going Green: Save Big Around The Home

                Here’s a smart solution! Rent camera gear for amazing shots & savings. Wow your Insta-audience too.

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                  Make $350 in savings without working

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                  Maximise your food budget by cooking in bulk

                  Maximise your food budget by cooking in bulk

                  10 save money quotes: Successful strategies to finally stop spending

                  10 save money quotes: Successful strategies to finally stop spending

                  11 ways to make money in Australia: How to get ahead

                  11 ways to make money in Australia: How to get ahead

                  15 great quotes on how to save money

                  15 great quotes on how to save money

                  Cut your food budget and shop smarter

                  Cut your food budget and shop smarter

                  22 clever grocery hacks to save money and time

                  22 clever grocery hacks to save money and time

                  Ways to be frugal while living down under

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                    Here’s a smart solution! Rent camera gear for amazing shots & savings. Wow your Insta-audience too.

                    Here’s a smart solution! Rent camera gear for amazing shots & savings. Wow your Insta-audience too.

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                    T’is The Season To Be Thrifty In July

                    6 tricks for slashing your next car loan

                    Home Page New

                    Living The Good Life Without The Guilt

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                    Home Page New

                    OMG! How to have the best African holiday ever!

                    The Ultimate Guide To Colour Coding Your Family Fast

                    The Ultimate Guide To Colour Coding Your Family Fast

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                      Don’t quit your day job until you read this

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                      Sleep more and eat well to get richer

                      How to buy your own dream island

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                      Social trading | Where financial trading meets social media

                      Penina Petersen by Penina Petersen
                      May 14, 2022
                      in Latest, Trending
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                      There are are many forms of trading now and for lovers of new ways to make money, the number of options has become hard to keep up with. The jargon can be confusing, and keeping track of the cause-and-effect of price movements can be bewildering.

                      Social trading is a new trend in trading that has changed the face of investment by offering an interesting alternative. Whether a person’s interest is Forex investment (foreign exchange trading), predicting future price changes (binary options) or dabbling on the stock exchange, social trading has become a modern means to greater success via the phenomena that is crowd sourcing. Read on to discover how social trading is changing the way would-be punters trade.

                      What is social trading

                      Social trading is the marriage of social media platforms and traditional financial trading. Similar to social media platforms, traders interact freely and make informed decisions based on the tips, suggestions and news articles posted by others. In other words, social trading is a crowd-sourced approach to making effective trading decisions.

                      How does social trading work?

                      Originally social trading was conducted on a purely casual basis on social media platforms. Traders would post tips and results as status updates via Tweets or Facebook updates and interested followers would interact with traders on these posts. News articles related to trading opportunities were also be shared, so traders within the community could help each other win.

                      Eventually, social trading became official and started to stand on its own as an online platform for making money. Websites such as copyop now provide sites for exclusively offering social trading, aside from social media activity. Traders can create accounts on these sites and follow experienced traders to observe their style and approach. They can then trade based on what they see and learn. Alternatively, they can copy a trade by pinning their trading actions to more experienced traders.

                      Copy trading is the best-known form of social trading

                      Through copy trading, new traders need not know anything about market forces to succeed. On social trading sites, a user can pin their accounts to a trader of their choosing. Whatever transaction the more-experienced trader makes, the new trader’s account will copy that. Both will earn and lose in parallel. The copy trader can control the amount invested while winning or losing from the more-experienced trader’s opinion.

                      Who uses social trading?

                      Social trading has actually heralded what some are calling a “return of the day trader.” Like day trading, social trading appeals to traders who have spare time on their hands, such as stay-at-home parents or work-from-home employees. The easy access through online platforms makes this an easy hobby (or serious pursuit) to get into.

                      Why Enter Social Trading?

                      Social trading is popular because of the community-based and crowd-sourced aspect of dabbling in trade. In social trading, there is an automatic level of trust assigned to the community a person might choose to join. The interaction means new traders learn from more experienced ones, and can share in both successes and failures. Users develop trust with other community members over time and this, like many other social platforms, is a key ingredient to growing popularity of social trading.

                      Have you tried out social trading? What was your experience? Leave your thoughts in comments below.

                       

                       

                       

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