Have you ever thought about trying your hand at making some trades in the stock market? Do you fancy yourself a day trader already and think you might be able to help other people with your advice and even get paid to do it? Either way, you should take a look at investFeed*.
For the Would-be Trader
If you’re like me, you don’t have a whole lot of spare time to do in-depth analysis of every potential company or fund you might be interested in and certainly not on a daily basis. Sure, you can set up all your automated buy and sell orders on your trading platform, but how are you building those orders? How do you know when some new opportunity becomes available? At some point the sheer number of possibilities can make a new self-directed investor a little nuts. I am mostly a “buy and hold” investor who does zero trading, but I am looking at this tool with an eye to try it.
The platform that investFeed has created is, essentially, a trust verification engine, though it is specifically tailored for stock trading advice. I won’t explain every little bit about how it works, but the long and short of it is that there is a leaderboard of stock traders whose accuracy has been tracked according to the sentiments they have made (bullish or bearish) on a particular ticker at the time they post their advice. This lets investFeed display their historical statistics and allows other users of the site to view them.
So, the idea here is that you can use the top-rated advisors’ recommendations as a basis for your own trades. Of course, all the risks of investing in the stock market apply, so you will always be subject to losing your investment, but a consistent record of positive gains or accurate bull/bear calls by an advisor will at least give a baseline reliability greater than “I have no idea if this person’s advice is worth a crap.”
For the Advisor
If you have the skills to make money in the stock market and are willing to put your reputation on the line, then you can earn extra income just from your advice! The investFeed platform works similarly to Twitter, in that you create posts with your trade details, advice, sentiment, etc. and other users can subscribe to your feed. Once you are a verified user (based on some number of qualifying posts) you can set up a premium feed that users will only see if they pay a monthly subscription.
So, for advisors, you can make money while competing for a top spot on the leaderboards and, at the same time, build up a steady stream of monthly income. In this way, investFeed has incentivized you to give good advice that will benefit your subscribers.
* I hold a 1% equity stake in investFeed.