I read a recent blog post on TraderFeed. This caught my attention, echoing my mind.
Traders need to develop ways of seeing markets that are unique to them, that make sense for them, that fit their risk tolerance and lifestyle, and that best make use of their skills and talents. Simply giving traders ideas could actually stunt their development, much like doing a child’s homework for them.
An important challenge in trading is that there is typically more valuable information streaming from markets than a single individual can reasonably process on their own….
That is the main reason why I hardly, or never use service like Stocktwits. OK, I am not against Stocktwits. It is a brilliant idea from some entrepreneurs. But, is it really useful for trader’s development? Well, Caveat emptor. Personally, I do not find it to be useful for my own development. To me, it is just a stream of random tweets, good or bad of so called ‘trading ideas’, valuables and junks, marketing of premium services, repeated links etc. But, this is just me. I believe, some users are finding it to be helpful to them. By all means, go for it. I’ll leave it to you to decide, and please, do not try to argue in the comment why I am wrong. I don’t care.
Instead of wasting time following somebody, I guess, it will be better off for trader to be away from social networking, and develop his own view, own way of seeing markets. With that skills, then the streams of tweets might give you some good ideas.