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Aussie investors flock to social media to learn about trading

By Reporter
  • April 14 2021
  • Share

Invest

Aussie investors flock to social media to learn about trading

By Reporter
April 14 2021

Aussie investors are increasingly turning to social media platforms for education on trading, as collaboration and reliance on a community become integral in the way traders learn.

Aussie investors flock to social media to learn about trading

Aussie investors flock to social media to learn about trading

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By Reporter
  • April 14 2021
  • Share

Aussie investors are increasingly turning to social media platforms for education on trading, as collaboration and reliance on a community become integral in the way traders learn.

Aussie investors flock to social media to learn about trading

New research has revealed an increasing dependance of Aussie investors on social platforms for education, with one in three admitting they turn to social media for education on trading, while 12 per cent admit online forums are their main source of knowledge.

According to TradingView, this number increases with new investors, with 23 per cent of those trading for less than three years dependent on social media for trading tips.

The findings also pointed to a stark contrast between new and seasoned investors, with only 8 per cent of those who have been trading for over 10 years noting social media plays a part in their trading strategy, while online forums are popular among 9 per cent.

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Glenn Leese, director of growth in Australia for TradingView, said that these findings illustrate how trading education has transitioned from an isolating process to one that is collaborative, creative and fun.

“There is a change of dynamic in the way traders are learning, hallmarked by increased collaboration and a reliance on a community,” said Mr Leese.

“As a result, a new set of tools and mediums are emerging, which also explains why we are seeing a much greater use of our own platform,” he noted.

Mr Leese noted, however, that while community learning is having a beneficial effect on investors, “the only caveat is the potential risk for investors to follow the wrong people”.

In collating its report, TradingView interviewed 2,134 Aussie investors, 61 per cent of which have been trading for less than three years, with more than one in four starting in 2020.  

In addition, more than half of respondents said they were looking to accelerate their trading in 2021 (54 per cent), and an overwhelming majority said they intend to keep trading in the “long” or “very long” term (92 per cent). 

Aussie investors flock to social media to learn about trading
Aussie investors flock to social media to learn about trading
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