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Why You Should Share Market Tips

By Edited Dec 5, 2013 0 0

If you're looking to share market tips with others, there are many ways to go about it. Why share with others you might actually be competing with though? There are actually some good reasons to do so.

First of all, with all the information available out there, sometimes it's hard to sort through all the advertisement, and spam to get to the helpful information. It's an overwhelming task for any one person to tackle, while it's a much more manageable one for a team or community to sift through the mountains of data and sales pitches. A good forum for sharing tips will not only help give you the skinny on the newest opportunities that present themselves, but also help you understand the foundations of financial planning and investing.

Also, by sharing with a community you are building interpersonal contacts with like-minded individuals, and that is a valuable end all unto itself. Business contacts as well as friendships may lead to opportunities that wouldn't present themselves to you otherwise. There may be people there that not only can offer you an option you hadn't considered, but those who you can offer such an opportunity to as well.

Finally, when you are spoon fed information, you are at the mercy of the information source. Obviously they want something from you, otherwise they wouldn't be offering the tips, but just what they want is not always obvious. Their tips may not be designed to help you in your investing, but rather to further their own agendas. When a stock is being hyped, is the one "selling" the stock actually buying themselves, or are they trying to drive up the price so they can offload it to suckers? This is something you may run into in financial discussion communities as well, but they tend to be ferreted out quickly by many eyes and ears, and become well known as something to avoid.

While technically you are competing against other investors, often these small discussion communities are populated by personal investors with relatively small holdings and the sum of their investing won't move markets too much. While sharing a tip may take a little bit out of the trade for you, it can also help your investing as well. If you've found a great opportunity, it won't really take off until other people have realized it as well and start buying themselves, thus moving the price.

For these reasons, when looking to share market tips, it's important that it's give and take, and not just to leech off of freely offered advice and tips. You will learn from other people's successes and failures, and they can learn from your own.

Where to find these communities to share market tips? Well, there are a plethora of online forums and message boards where such discussions are taking place. There are message boards that cater to specific types of investing, or even to different browsing methods. One may be suited for mobile access, while another is better viewed from your PC. Which one is right for you will depend on many different factors. You should consider what specific type of investing you are interested in. Will you be trading options and futures in a day trading strategy, or are you more of a buy and hold equities type? The answer to these sort of questions can steer you towards communities which specialize in your particular interests, and away from those which while valuable in their own regard, may not suit your needs.

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