Overview of the main forex social networks: why can they help the trader?

Social networks play one of the key roles in today’s world. Every day, we visit these resources and communicate with friends or colleagues.

In trading, the same situation. To find the professional’s opinion, you can get the profile on social networks and ask any questions you want. Moreover, there are special sites that aim to increase the social activity of the traders, by discussing the market, publishing signals or results of their trade strategy. These are the sites we’re going to talk about today.

The first thing to note is that tracking results or publishing your work is aimed at improving the result in trading. After all, you can see what you write or what a successful trader sells, ask for an opinion on your signal or analysis. Such resources are a source of useful information and, at the same time, networking, which enables the development of fix api trader his trade.

Yet what resources are available for social activity in the fix API Forex marketplace?

1. MQL

Perhaps one of the largest resources. Yes, you can’t call it a social network, but there’s also a forum where both traders and software developers find interesting topics for themselves. Also, the trade signals service brings together managers and investors. Here you can ask any question about the software, trading, developing author signals, and opinions on products or signals from the actual customers.

2. Tradingview.com

The service is designed to build technical analysis and monitor the current state of the market. Basically, you can view quotes for all currency pairs, shares, indexes, futures, and so on. A huge database allows you not only to build your prediction on any financial instrument, but also to share it. This creates a circle of traders, where you can track all the published ideas and their results.

3. eToro.com

A service similar to Tradingview, where you can publish trade signals. But! For a separate fee. That is, the entire material and the community is generated only after the subscription. However, you can write to the author to ask for an opinion about a financial asset.

4. fxsocialnet.com

The purpose of this resource is to publish the trading results, where everyone can see the manager’s scores, profitability schedule, and to communicate with the market about everyone in the system. Also note that there is a detailed schedule of the manager’s trading algorithm, trade specification, and the cost of the subscription.

These social sites allow you to better understand market characteristics as well as different views on the market. You can, for example, view the recommendations on Tradingview or eToro, and based on this, make a decision about investing in an asset.

In addition, social activity can help the trader:

  • To create a name among other market participants. After all, if you place quality content in your profile or publish profitable signals, you will be able to attract interest;
  • To find the answer to any question;
  • Get an opinion on your fix api trading strategy or even ask other members of the social site;
  • Identify profitable trade strategies;
  • Optimize your trade algorithm.

I advice every fix api trader to engage in social activity, because in the fight against the market, it is better to know the opinion of the majority, which will allow for more accurate forecasting of the future of the asset price movement. These resources can also demonstrate your professionalism as well as attract external capital to your trading.

Leave a Reply

Your email address will not be published. Required fields are marked *