If you’re at all interested in trading stocks, or investing and turning a profit, it’s likely you’re a sharp individual with an eye for numbers. Unfortunately, numerical fluency is only half the battle when you’re attempting to read the market. The market is unpredictable to an extent, but not completely invisible to our pattern recognition. Your success here all depends on how well you are able to read the zeitgeist and become privy to hidden information which might help sink or swim your investing efforts.
The life of a day trader is one of constant witnessing and observing. Detecting the flow of a select stock depends on the news cycle, the time of year, the social stratum and shifting goals of a business. For example, due to the recent EA Star Wars Loot Box controversy, Electronic Arts lost over $3 billion from it’s stock value seemingly overnight.
To read these situations more conclusively and instantly, we have collated a list of the four best and most innovative ways to predict stock trends.
IRC channels are nothing new. They are publicly available (sometimes private) chat rooms which are concerned with a singular topic. You will need an IRC reader such as mIRC reader or CIRC to view the rooms. Often, they come with a select grouping tag, such as #stocks or #daytrade. Finding these rooms can help you meet people from all over the world concerned with stock acquisition, and in real time. This is much more superior to using a website like reddit which does keep good information, but isn’t as ‘live’ as an IRC instant messaging platforms. Even if you don’t contribute to the chat, you’ll be able to witness experienced members talking about the best stocks, and even grab advice to help you make the next big investing decision.
There are many awesome trading platforms. Most take commission in varying degrees, but the complete package they offer usually warrants it. You should be looking for speed, transaction fees, research abilities, screening tools and even advisor compatibilities in the trading platform of your choice. These combined will help you make informed business decisions, therefore eliminating the risk you are liable to make. Check Investormint for the most practical advice in choosing a solid and reliable trading platform. This is an important decision, as all of your decisions will spring from this platform, and be conducted through it. With the right choice, plenty of great stock trades are yours for the taking.
You’d be hard-pressed to find a good stock trader who pays little attention to Twitter. It’s simply the best way to read the cultural landscape. Want to see how a business is perceived by their consumers? Check twitter, and especially check the support pages of a select business. This helps you read the up-to-the-minute perceptions of a business. Often, the most ‘liked’ tweet responses are the ones paying the most attention to, particularly if it’s popular due to the tweet’s content and not the personality writing it. Still, pay attention to the whole spectrum, and learn to read those 280 characters for all the insider information you can glean from them. You might just figure something out before your trading peers, helping you make a worthy investment.
With these tips, you can be sure to predict stock trends well, and with efficiency.