Published August 7, 2018
StockTwits is a specific social media platform that has been developed specifically for investors and traders in 2008. The idea behind this platform was to bring investors together in one place where they could engage in the exchange of information.
The StockTwits app is intended to bring together the investing savvy Wall Street traders and executives, day traders, and company executives in one place where they can easily share information with each other. In many ways it is similar to Twitter, but with a focus on just the financial sector. The platform features several neat tricks designed to make it invaluable for traders in comparison to other forms of social media.
In Real Time
Once you learn to master the nuances of StockTwits, you will be in a position to place your fingers directly on the pulse of the current market by letting you track the thoughts of other entrepreneurs and traders anywhere in the world in real time. According to StockTwits, there are over 300,000 active members, all of whom are very happy to share their insight and knowledge for those who are willing to tune in and learn.
While this might seem like an outstanding idea and to a certain degree it certainly is, it does have one inherent problem. There can be so much information being shared that the conversations can get pretty muddy, making it hard to know who to listen to or believe. Thankfully, StockTwits has installed automated algorithms that have been designed to filter out things like spamming, bad content and trolls. The intention is to keep the conversations focused on sharing information about stocks and investing.
With its built-in character limit similar to that of Twitter, along with customizable filters for your stream, many of these problems are addressed and overcome on their own. While you may have already considered the different stocks, you think you might be interested in, the type of traders you decide to follow are going to be just as important when you are using the StockTwits app.
Who You Know is Important
There is an adage floating around the business world that goes something like, “It’s not what you know, it’s who you know.” Using StockTwits puts this saying to work for you by introducing you to some of the foremost experts in the market. This means that you have virtual instant access to any one or more of these experts by merely sending them a message or by posting a message on the boards to let the rest of the community answer your questions.
Imagine having access to the latest rumors as well as how the rest of the community is reacting to these rumors all at the same time. Having access to this type of knowledge can help you gauge the current market and help you make the best decision as to how the markets are trending and whether the rumors you have been hearing have any validity to them.
The best news of all is that StockTwits is entirely free and anyone interested in the markets can join in the conversation and start learning. The best way to make use of StockTwits is to choose a diverse selection of accounts and start posting your thoughts and questions for your fellow like-minded traders to answer.