When one catches up on the business news in the morning or in the evening, or even if you perhaps have the likes of CNBC or Bloomberg on in the background all day as you do your work, one cannot help but get the sense that the vast majority of us are being fed the short end of the stick. Seriously, even when they feature top economists and market analysts, it can all sound like they’re intentionally using bombastic words and jargon to further mystify an industry which is already ladled with smoke and mirrors.
Just try executing trades on the advice of even the most well-renowned and respected of these experts and economists and still none of what they’re saying and suggesting is really making any sense. Well maybe it makes sense, but it sure isn’t very clear, which does nothing for the reputation of the trading industry as a whole.
On the other end of the smoke and mirrors you might be able to navigate through awaits the very unsettling fact that brokers and those who are in the inner circle of the financial industry are the ones who are really making the money, often at the expense of the masses who are eager to learn how to trade for themselves and perhaps even make some good money trading the likes of CFDs, commodities, etc. The broker makes money on every trade through the brokerage fees they charge or through the spread charged, and in addition to that brokers themselves double up us as traders.
So for them it’s about getting you to sign up to their platform and trade so that you can get charged and not necessarily about teaching you how to trade effectively and profitably.
So while the world of trading may be accessible from the point of view of the financial aspect of it (you can get started for well under $50 in some instances), it’s certainly not that accessible from the point of view of learning how to do it effectively.
All’s not lost however because there are investors and traders such as a certain Jay Edward Smith, so too social trading platforms like eToro which together make up a very powerful combination which is balancing out the scales in what can be a very precarious market to navigate.
Jay Edward Smith (or Jaynemesis) is a shining example of what the eToro social trading platform is all about, a platform which is more like a community of traders and investors who learn from each other and share winning trading strategies while everyone learns the ins-and-outs of the game. At its best, the platform allows a newbie trader who is just learning the ropes to follow the likes of Jay, reading and interacting with him as he shares his thoughts behind the trades that he executes and even having the opportunity to copy his trades.
Jay’s specific speciality and interest lies in BitCoin and cryptocurrencies in general (the broader tech field as well), but he’s just one of the many top performing experts whom anyone on the platform can learn from, all while trading and investing with money that’s as little as the cost of a day out to the movies.
With this social approach to trading and open learning concept, eToro is definitely making trading much more accessible.