Not having internet/social media the stock market was a tricky place kind of like going to a casino. Without social media there was no way to be alerted about the changes in the stock market, there was more time spent checking and checking. Social media has also brought a lot more attention to what the stock market is.
When the stock market began on social platforms it has introduced algorithms which has affected the way a trader decides on the stock they want. Now with technology everything happens within nanoseconds, which obviously is a lot faster than a human can do. Social media has introduced so many people into the world of trading. It has allowed for more younger audiences to learn all about the world of trading and how to do it responsibly. There are now so many large groups of at home and institutional traders that share their information with each other, to ask questions and converse about the different plays.
Reddit is huge for people who are investing in the stock market. Everyone posts about what’s going on in which stocks and to buy or sell. Because of social media now being a huge part in all this there are some cons that come along with it. Because of social media teaching newbies how to trade can result in young kids or honestly anyone to be sloppy and put all this money into something they read online and not know how to responsibly sell or buy , resulting in loosing all the money. Some younger crowds may not understand the market fully and just think of it as a place to make easy money, which is clearly not the case. It is always a risk, a dangerous game playing the markets figuring out the peaks or if it’ll drop. You have to have proper knowledge and be careful. So many people use trading as a main source of income and have become wealthy from doing so. That being said just because other people get super rich doesn’t mean it will be exactly the same for you.
If you are considering to get into the stock market make sure you have all the knowledge because you really don’t want to risk losing all your money. Although it is a fantastic and very popular way of making any sums of money, especially when you have peers around you who area so interested in it. Make and join groups of traders everywhere and learn all about different stocks and what’s going on.