We now have witnessed how Internet technology has changed our daily life and the way we do things. Nowadays, There is none single aspect of our life that is not affected by the presence of Internet, including financial market with its electronic trading. Financial market make use of Internet in almost of their trade, from stock market, commodities, future market. Trading activities in the financial world have undergone a revolution along with Internet. The revolution that gave birth to a new form trading called social stock trading.
Social Stock Trading Chat
Since Web 2.0 technology was introduced, so many of our social live face a new era. One of which is social trading and social stock trading as well. Web 2.0 is an Internet technology that enable people to contribute, generate and manage their own contents for sharing information, idea and knowledge across the Internet. Financial market is one sector that utilize this technology heavily, especially in its electronic trading activities using Internet as its vehicle. Investors, brokers and traders can now communicate and exchange information using Internet. This trading is called social trading because with the Internet, all traders around the world are able to link and connect each other, thus enable sharing and exchanging trading strategy and even copying trading position.
Social stock trading has several methods, some are using automated trading with a series of pre-programmed trading instructions, known as algo trading or algorithmic trading. Some employ copy trading method, in which the trader copies the position from well-known investors or top traders. Each time the top traders take a position, the trader copy his position. Another method is called mirror trading, the enhancement of algo-trading, where the traders select a strategy based on their trading preferences, and the trading platform executed that strategy.
The most important thing for traders in social trading is information. Without it, traders in social stock trading can never make right decision. It does not matter whether the trading method used is algo trading, or copy trading or mirror trading. All of them need information in order to make the best decision. All renowned social trading platforms, such as elToro, ZuluTrade, TrakInvest, and many others provide a trading mechanism for traders to copy top traders movement. They also provides algorithm which we can use to automate our trading.
The Social Chat Room Technology
Technology itself without human intervention is useless. That is why in the world of social stocks trading, traders’ experience is much more valuable than all automated and trading algorithms. Experience will put a trader ahead and predict the unexpected situation which is not available in technical analysis. Furthermore, when a trader starts to assemble a team or trading group, he needs a communication tools to share his trading system to all team members. Combination of trading experience and automated trading will generate the most powerful social stock trading strategy and execution.
Beside, when a trading group or team using algorithmic trading or copy trading or even mirror trading, they surely need a reliable communication tools to exchange information. It is because all traders need to know which trader has the best track record to follow and which algorithm needs to be adjusted. RumbleTalk provides communication channel that suits every trader’s need to share information, they are:
- Live conversation
Easy conversation just like Skype. You can even have a closed group chat between your own trading group and invite other experience trader to share their knowledge. - Live video chat
One exciting features of RumbleTalk that can enrich the explanation and knowledge sharing is through a video chat. - Live trading chart
Shares movement of the trading chart on the go.
Now we have understood the importance of communication channel for social stock trading, provided by RumbleTalk, now let us talk about how to use RumbleTalk for our trading group and team.
How Do I Begin with RumbleTalk
RumbleTalk have designed the easiest way to create a group chat, whether you have your own website or not, you just need a browser to chat with your trading group. If you have your own website, we provide you the code which you can put in your website to create a group chat in your website instantly.
In order to enable group chat, you can easily do it just like 1-2-3 in RumbleTalk. You just create an account, setting your chat group and start your group chat. That is so simple.
1. Create an Account
First of all is you need to join RumbleTalk. You can go to http://rumbletalkcom and signing up. You can create an account in RumbleTalk, or using your Facebook account.
2. Setting your Chat and Group
The next step is setting up your chat group. When you have signing in, you can have the option to create a chat room in your website, or chat in RumbleTalk. We have created an easy way to setting a chat room in your own website, by providing a group chat code to copy to your website. Then, you can have your chatroom easily available. The code can be accessed in the Dashboard.
You can also have the option to make your chat room secured.
Then always setting up the Login details for users. There are two setting you need to adjust to secure your chatroom. First is to secure our chat by disallowing viewers access, disabling auto invite and disabling Invite Friends button. Second one is to disallow guest login. Take a look at the settings below:
Note, for advance login type, you can use your own users base.
3. Start you Group Chat
After you have setup your group setting, you can start a group chat with your audience, invite your team and conduct a live social group discussion.