What is a Social Trading Website?
So, I came across Social Trading a bit over a year ago now, and since then I've been working things out and trying to find my way around. It's a type of website that has to do with trading - stocks (equities they're called), ETFs (Exchange-trade funds), commodities, indices, and of course, now, cryptocurrencies. I still think it's an amazing idea, and I've spent a while now making videos about it and a little about my experience learning about the world of trading. But it's their idea of "Copy Trading" which is really how I found it.
I'd been watching documentaries on Algorithmic trading, and how extremely bright mathematicians and physicists had actually taken over much of the "Day-trading" done on Wall street (and everywhere else I think). These folks have written pieces of software (bots) which can actually trade so much faster than humans that there's really no way to compete with them any more over short timeframes. They're making all the money... Anyhow, I was wondering if there was a site where I could use one of their bots and get it to trade for me, and then I'd give them a percentage of the profits it makes or something... It didn't exist. Yet. But what I did find was copy trading - which is where you can have a trading account, fund it, and then browse through the profiles of various experienced traders and set your account to copy theirs automatically. Nice.
I studied radio, film and television production, but I've never used it professionally, and I was itching to make something. When i found copytrading I thought "Maybe I could make videos about this..."
Here's the first one I made: