Does anyone monitor social media to help them in their trades (Facebook, Twitter, monitoring services, etc)?
Social media is retarded -- elite people and traders don't use that. That's for Disneyland hippy liberal democrats taking photos of their cupcakes and Thanksgiving-flavor Starbucks lattes and Black Friday deals and steals they got.
Not true. Many quant firms monitor and utilize this information in sophisticated ways. Renaissance Technologies is one. However, I am curious if any ET traders have found it useful. Thank you for your reply.
While I take, the opinions, with a grain of salt, I'll look anywhere for, an idea. A trader named Greg Harmon, of Dragonfly Capital, posts 5 trading ideas for, the following week, and has given me some winners(FFIV, APA, and another I can't remember in the past month) on his Twitter and Facebook page. Stocktwits is good to see what is moving intra-day. Some post useful charts then I go research further. ***inverse Gartman indicator...that is funny as he has been wrong on oil every week he goes on TV. He calls for $30's it goes higher, never be above $44bbl again, now it's won't be above $55bbl, 3wks ago. Commodity king?bahahaha
Lawrence; Can you tell us how did you reach the conclusion that elite people and traders do not use social media? Better yet give me some!
Fidelity's Active Trader Pro software includes this... https://socialmarketanalytics.com/ poke around the website... pros are using this stuff.
Long ago I was trying to look for a system to trade according to people social media reactions. Do you know what I found? It seems already invented.