Experience of Social Trading in the Social Networks

2021-05-13 06:55:59
6 pages
1480 words
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1. Introduction

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Trading began in the ancient times and to date it has remained the backbone of different economies in todays world. In a similar manner to every development trade has significantly evolved. Though not well known I believe there exists an evolution theory on trade. Trading in the past was a hectic process that only the daring engaged in it. Today trade has been made simple and with minimal capital, you can freely participate with fewer risks of losing. Social trading emerged in the recent years and remains the epitome with its headings all over the social media. Social trading came up as a platform where traders can share information through an online means and has an advantage to the new traders who desire to invest with minimal risks.

This dissertation seeks to look at the different components of trading. Asset management, social trading and how social media fosters trading. To ensure adequate results in this project I prepared a questionnaire that was administered online. The focus of the study was more of the German-speaking nations and of interest was Austria. Each of the chapters in the paper covers relevant topics and are correlated to ensure success. This dissertation will focus on the linkage that exists between social trading and social media. Additionally, the different aspects involved in marketing will be dealt with broadly. Social media is a hallmark in the advancement of the different financial markets. The greatest investment that one can venture is investing in friendship. In a deeper analysis, this is the role that has been played by social media. In a boost to have the trade happen social networks have to be utilized to enhance the exchange of ideas among each other. The dissertation aims at achieving a thesis that will appeal to traders and look into how they undertake their businesses.

The dissertation will emphasize on the driving forces of trading in Austria with the focus of strengthening trade in the nation. The dissertation compares the current status of trading and the trends of trading in the market by giving a direction. For ventures of the markets and engagement of the public in trading I undertook a survey with the aim of capturing responses from both the traders and the professionals in the trade. This will be helpful in understanding how the people view trade and what they think about the trade. Asset managers were among the respondents, and their views will be used to gauge the future of asset management and whether people will opt for the trade or feel safe under social trading.

1.1 Aims

Many dissertation papers have gone a step in trying to give emphasis on the types of trading and the different styles that are applied today in the trades. The authors have worked extensively in ensuring that better ways are developed in the world of trading. Every journey has a step and indeed barriers are bound to be part of us. Despite this little is known about the traders perceptions and the citizens interests on social trading and the involvement of asset managers. Additional the attitudes of traders towards trade and the upcoming trends in trade has not been studied in an extensive version. Consequently this dissertation aims to narrow this research gap and conduct empirical research into how the residents of Austria view social trading and the emerging trends in the trade industry. The dissertation will entail a questionnaire that will form the basis from the ground level to the experienced traders. The frequency of engagement of social networks in trading and the way they cope with the trading are a few aspects that will be analysed. The results obtained from the questionnaire will be used to provide recommendations and further improvements in the trading industry. To add on is that the results will further be applied on the management systems of banks and asset managers to ensure service provision in the trading sector is improved.

1.2 Dissertation Objectives

The aims stated above will be fulfilled by ensuring that the following research objectives are adhered to:

Reviewing the literature concerning the traders view and their experience of social trading in the social networks.

Investigating perceptions and attitudes of the upcoming traders towards social trading and the usage of new modes of trading at the different websites such as eToro.

Comparing the usage statistics between various user-groups, e.g. experienced traders, amateur traders, full-time, course type, part-time etc.

Identifying if any alterations or improvements are required to facilitate and ensure a high service quality provision in relation to the social media and the services offered at the different platforms.

2. Survey of Literature

This chapter deals with the previous research done based on the survey of trading, social trading and the how social media plays a role in its success. The different definitions of the key aspects of trading are stated and giving the relevant meanings. This chapter not only analyses on the theoretical part of trading but also brings out the practical part of it. We live in a fast-changing, dynamically evolving and adapting the world where the most successful endeavors are those that are willing to change with the environment. In 1992, James Carville uttered the phrase Its the economy, stupid (Qualman, 2009).

Social media has become a vital part of the modern social-economic aspect of life. It has impacted the modern day world at a global scale and as a consequence social media is currently an indispensable tool in trading and commerce. A proper example is Facebook, it already has more than 1.4 billion registered users and is still growing at a fast rate (Cf. Facebook, 2014). This literature review seeks to elaborate on the effect social media has on trading, social trading and social media, and how we can improve business marketing trends by conducting surveys on social media. It discusses the importance of social media to asset managers and how it helps in communication. It shows how and what the asset managers use to enhance their businesses.

2.1 Social Media and Trade

Olden times trade was a key issue for every community. However, several hurdles were encountered to have this a reality. Trading forms the basis of the economy and the use of social networks has significantly affected its success. Social media is enjoying the times where unlike the dot-com where only the like-minded would engage in chats to discuss on the stocks they find favorable, today the markets analyze the trends and broadcast the information to the audience via websites (Thurston, 2008). The websites include Facebook and even Twitter. Today online brokers are making use of the social media in their engagement of their customers. The experts view that the only challenge left is training the traders on how to trade with the help of social media. The professionals themselves say that they have to spend a few hours of their day looking at books on trading and having some online courses to sharpen their wits.

Prognosticators toward the start of this century anticipated that the correspondences upset and expanding utilization of computerized media would gradually lessen interest in the eye to eye occasions, for example, the trading shows and meetings. The troublesome world economy led to the rush to the incorporation of the social media. Indeed, the inverse is by all accounts genuine. It was noted, for instance, that the yearly CES gathering in Las Vegas set a participation record a month ago. Numerous CMOs perceive that in-individual occasions are an essential promoting channel; and subsequently, they have expanded such ventures as the economy moves forward. One could contend, convincingly, that long range informal communication and computerized content really propels individuals to gather and improve online connections (Wagner, 2015). Wise chiefs with rare assets might and will probably apportion cash and time for investment in such occasions. Every one of us comprehends there is no substitute for looking at somebody without flinching, shaking hands, perusing non-verbal communication and watching other behavioral pieces of information. In fact, it is not a mere say that, making such associations is a vital piece of advertising, and building managed associations with prospects. Occasions requiring physical meetings are obviously more costly than making use of social networks and sending messages. Of significance are the enormous advantages which are also realized.

2.1.1 The Use of Social Media Today

Social media is now to the reach of everyone. This has been made possible through the availability of electricity and internet in the majority of the households. The Pew Research Center gives the statistic that close to two-thirds of the adults in America enjoy the use of social network sites. This is said to be an increase from the previous 7% way back in 2005. Social networking has been documented to have contributed greatly to the increase of activities such as political deliberation, sharing of information that entails health, consumption of news and engagement in social trading (). A simple illustration of the rise in the use of social...

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