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UK-Sipping on a half-finished Heineken while flipping through Facebook on his laptop, Leeds native Trent Crowdley’s money is multiplying by the second. And it’s all thanks to a new social network that allows people to invest, attach and copy the trades of highly successful financial analysts. With Social trading, users can literally copy the trades of some of the best Forex traders out there.
“When I tell people that I trade for a living, they assume that I actually understand financial markets” he jokes. “But the truth is, I just deposit the money and let someone
else much smarter than me make all the trading decisions (and money) for me.”
Like many other profit seekers worldwide, Trent joined this fast-growing of worldwide profit seekers on Trade 24’s social trading network. And thanks to social trading, members of this social network are earning an extra daily salary without even working an extra hour. It’s money-making potential has taken the internet by storm. But despite its raving success, it has some brokers on Wall Street quite concerned.
The Suits are Worried
“The problem with social trading is that you don’t know who is on the other side trading for you so it’s hard to know if he will actually make you money or not” claims Greg Halsrom, a
junior broker at a well-known investment firm in downtown Manhattan. But Trent disagrees. Pointing to the list of investors to choose from, he points out how each social
network publicly displays each trader’s success as the track record of every investor which is clearly displayed on the network for all to see. Pointing to one investor going by the alias ‘Superman704’, Crowdley notes “this guy has a 96% success rate so I will latch onto his trades”. Trent clicks on Superman704’s impressive 3-year trade history which involves generating some remarkable returns including a minimum risk level of 2.59/10 and a profit/loss ratio value of +69.49% to boot.
The Proof is in the Profits
Despite the fact that the mystery trader doesn’t reveal his real name, the proof is in the profits. “He just makes me money. It doesn’t get any more transparent than that.”Trent quips. And in just two clicks, Trent has entrusted a complete stranger to manage his initial £500 investment. He then exits out of the page to browse Facebook, YouTube and the Daily Mail for about fifteen minutes. Upon returning to the Online Exchange, Trent discovers that ‘Superman704’ made him 80 pounds in pure profit. “Who else do you know makes 80 Quid in just15 minutes?” Crowdley asks with a stride of beaming confidence. “And just for clicking on the mouse twice no less!
And since the social network is based on a Forex platform, trades are placed roughly every 15 minutes in a 24 hour span. This means that the investor Crowdley selected (Superman704) gives him roughly 96 opportunities a day to make (or not make) money. Another reason this trading social network is pushing Wall Street brokers into an abyss of irrelevance is it’s wild success. Since Trent started using this system to trade online, he has
been able to quit his day job and make a decent living from home. Another interesting advantage to social trading is that it runs on the online exchange directly which means that there are no broker or middleman fees.
No background in finance needed
“I barely graduated high school by the skin of my teeth” he recalls. “If you would have told me one year ago that I’d be trading full time online, I would have recommended putting you in a mental institution. I was horrible at math in school and the very idea of trading in the Stock Market scared the wits out of me.”
But one day, Crowdley was down on his luck and sick and tired of waiting tables at a local pub in his Seacroft neighborhood. It was then he saw an ad online for Trade 24’s Social Trading Network. The platform offers a simple means of trading in financial markets from virtually anywhere in the world with an internet connection.
So What’s the Catch?
Obviously, the broker providing the social trading network has to make money too. That’s
why when Crowdley (or any other member of the copy Trading network for that matter) trades, they pay the same type of broker fees required by any other large online trading platforms that do not provide a social trading network.
Many on Wall Street are skeptical of this new online trading method with some claiming that those who have never traded before could be at a real disadvantage as they don’t fully understand financial markets.“Nonsense!” Exclaims Crowdley “I’m the last person who should be trading and I’ve made an excellent salary doing it from home...in my PJs.” He concludes with a few words of wisdom “if I can do it, trust me-anyone can do it”.
The author is a boutique hedge fund manager overseeing $21 million in assets and is a regular contributor to various financial media outlets.