Trading Feed & Social Chart – How to do it Right
A crucial part of successful trading is understanding the psychology of market participants. How do we know who is in the market, how they are leaning, and whether their participation is likely to move prices higher, lower, or not at all? Many trading problems occur, not because of the trader’s poor psychology, but because of the trader’s inability to recognize the market’s psychology.
The majority of financial data vendors can access Exchange provided data during trading sessions. But to better analyze Market, you need not only the dry data, but the collective insights of traders like you. This is where our Trading Feed comes in handy. Our live streaming feed of trading information provided by our social trading platform, enables you to get real-time information to use.
While this does not replace regular data, the Social Feed enables people on each platform to get more specific data from fellow traders, and improves the confidence of traders while making an investment decision. Traders can access other trader’s portfolio, and read their posts about the reasoning behind their decisions. This makes it easier to choose which assets to invest in, based on common wisdom.
A widespread problem with too much information is the difficulty to soak it all in. Plenty of trading info may be confusing, as useful as it may be. For this exact reason, we created our new Social Chart. In our chart, you are able to see all the current trends, and positions you get in the feed, but in a visual way, making it much easier to grasp.
This takes us once more to one of Social Trading’s main advantages – Transparency. Social trading platforms like Tradeo reveal traders’ performance stats, open and past positions, and market sentiment, giving members complete information to assess the credibility of the contributors they follow on the platform. This information is meant to assist all our traders to invest wisely.
One of the unique features of the Tradeo social trading platform is that additional commentary is provided that explains the strategic moves. In other words, a trader may learn as he goes along with each mirrored trade. This is where our new Social Chart becomes relevant. We basically take all of the trading actions and open positions from all our traders and display it – in an easy to read chart.
One of the most important beneﬁts of visualization is that it allows us visual access to huge amounts of data in easily digestible visuals. Well designed data graphics are usually the simplest and at the same time, the most powerful tool to understand data quickly. For example, According to the latest data on global GDP released by the World Bank this February, the U.S. still is the world’s biggest economy – by far. See visuals:
Now that we’ve seen the importance of information sharing for wise investing, you can realize just how helpful our Trading feed and Social Chart are. We hope you use these tools wisely in your next trade.