Pros and Cons of Social Network Trading

<p>The GameStop drama in January and February has given a lot of attention to social sites like the WallStreetBets Reddit page. But what are the pros and cons to making trades based off of information gleaned from social media?</p><p>This week on Limit Up! Podcast, Jack and Dan talk about how WallStreetBets and Discord have changed the game. They offer advice on what to look out for and what to stay away from when making social trades. Listen for their advice.</p><ul><li>(02:04) - Social trading</li><li>(03:32) -<a href="https://www.topstep.com/market-mania/" rel="noopener noreferrer" target="_blank"> Market Mania</a></li><li>(06:37) -<a href="https://www.reddit.com/r/wallstreetbets/" rel="noopener noreferrer" target="_blank"> r/WallStreetBets</a></li><li>(12:13) - Impulse protection</li><li>(18:41) - YouTube trading rooms</li><li>(21:33) - Questionable micro influencers</li><li>(25:13) -<a href="https://stocktwits.com/" rel="noopener noreferrer" target="_blank"> Stocktwits</a></li><li>(28:29) - Jawboning</li><li>(30:01) - Topstep on Discord</li></ul><br/><p>Limit Up! is a podcast brought to you by <a href="https://www.topstep.com/?utm_source=limitup_podcast&amp;utm_medium=cta&amp;utm_campaign=ongoing_limitup_to_tst&amp;utm_content=limitup_podcast" rel="noopener noreferrer" target="_blank">Topstep</a> about trading, trading psychology, trading life, and pretty much whatever else the wonderful world of markets has to offer. It’s hosted by two former professional traders, Jack and Dan, who still dabble in futures, forex, options, political betting—they basically love to follow the action. They’ll teach you how to trade, but more importantly, how to develop the habits that make traders good. Risk Disclosure: <a href="https://www.topstep.com/risk-disclosure/" rel="noopener noreferrer" target="_blank">https://www.topstep.com/risk-disclosure/</a></p><p><a href="https://www.topstep.com/" rel="noopener noreferrer" target="_blank">Topstep</a> is the premiere funding opportunity for traders looking to make the most of mar