How Traders Can Use Twitter Effectively

While it may have initially been modelled as a microblogging platform, Twitter has, over time, become a place for traders to look out for trends in the stock market and keep up with occurrences around the world too.

According to a study by ExpressVPN, Twitter will be introducing plenty of new exciting features, which could make it an even more worthwhile tool for traders. Twitter Blue, for example, is a subscription-based model that helps verify accounts so Twitter users are assured of who they’re following and that their news sources are legitimate.

Whether you’re a brand new or experienced trader, here are some tips to help you get the most out of your experience on Twitter:

1.    Follow the right breaking new sources

Due to the nature of the product, Twitter has become the place for business journalists, companies, and trusted news sources to break the news and share information. As any good trader knows, these types of news can impact the financial markets in real time, so it’s important to follow these accounts and stay in the know.

If you’re a trader, you can set up post notifications for various accounts and hashtags so you’re always in the know and can stay ahead of the curve.

If you’re new to the game, consider following sources like Bloomberg, CNBC, Wall Street Journal, and the Financial Times for breaking news worldwide. You can even follow specific trade journals based on the industry you’re interested in.

2.    Keep up with financial influencers

Before taking this tip, you’ll have to figure out which financial influencer suits you best. For example, some traders love following Warren Buffett because of his famous philosophies, while others prefer following Bill Ackman for different reasons.

Ultimately, the choice is yours. While influencers cannot predict what will happen in the markets, they can share their thoughts and give advice based on their experience, which could be helpful for you.

3.    Create lists that you can follow easily

As a trader, you’ll likely be bombarded with information constantly from different sources throughout the internet. If you’re on Twitter, there’s an easy way to organize your feed so that you’re getting the most relevant information. On Twitter, you can create lists for different categories, like news sources, experts, and the companies you’re invested in. This will help you keep your main feed clear if you’re also following friends and family members and want to keep up with what they’re doing as well.

4.    Follow prominent CEOs

Plenty of prominent CEOs, like Elon Musk, Satya Nadella, and Tim Cook, are all active on Twitter and often share announcements, earning reports, and other corporate news. By following them, you can stay ahead of the curve.

5.    Use sentiment analysis tools

Tools like StockTwits, TickerTags, and Dataminr look at social media trends and gauge market sentiments about various companies and industries to give you a better idea of the public’s perception. This could give you better insight into what the future might look like for certain companies or industries.

Regardless of the ongoings at Twitter at the moment, it’s worth remembering that it is one of the biggest platforms in the world and condenses a wealth of information into one place, making it a great tool for traders.

Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. The writer may or may not hold investments in the companies under discussion

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