Some people never want to share their stock ideas. Crazy, right?
I think keeping your stock tips to yourself is pretty dumb, for two big reasons.
Two Reasons Why You Can Talk About Your Stock Tips:
1) The first big reason why you can talk about your stock tips with other interested people is because it will challenge you to think more seriously about your stock idea! This seems simple but it’s a powerful precept. Think about it…
Sometimes people buy common stocks for really shortsighted reasons. Their friend is excited about the new Blackberry and knows an “insider” who says they are selling like crazy. Well…
In my experience evaluating stock ideas… that… the most profitable opportunities occur when they you are not making emotional decisions. So here’s your take home point:
Talking about your stocks and sharing your investment ideas is helpful in that you don’t want to look like a moron in front of your investment banker friends, right?
The second big reason you can talk about your stock ideas with your finance friends, is because…
2) Stock Ideas get old fast! The market is always moving. Prices are constantly fluctuating. And when you share your current ideas, they become old. This means you are kind of forced to immediately start looking for something new. Get it? So…
Sharing your stock ideas gets you in the habit of always looking for more opportunity.
(At least, that’s what I’ve found over the course of my investing career).
Social Media Is Great For Talk Talking About Stock Tips:
So now that you know why you can share stock ideas, let me tell you HOW to share them. In my opinion, the best way is real time… and… nothing beats social media great for sharing investment tips in real time… so for starters…
Have you checked out Stocktwits?
Stocktwits is very similar to Twitter, but the stream is moderated a little bit more. So the commentary tends to be a bit serious and higher brow. There is also a stocktwits recommended users screen that is very helpful when you are just getting started sharing your investment ideas on Stocktwits.com
Twitter has a lot of active trader, too. Just go to the search page and look for traders. You can find people all kinds of equity types on Twitter.
Yahoo Finance Stock Message Boards: Be careful here, these people don’t often know what they’re talking about. But sometimes it’s good to hear every side of the story, right?
Okay, this list of ways you can share your stock ideas is starting to get a little long.
Finance blogs are a great way to share your stock and trading ideas, too. There are so many of them that I will have to make a whole other blog post about sharing your stock ideas at investment blogs (and which are my favorite).
So there you have it… Why you can share your stock ideas, and how! Just remember, a big part of sharing is listening!
Oh yeah, a third and final reason you can share stock ideas is because you might build some good investing karma. And maybe a hot stock tip will come your day sooner than you think.
So share your stock ideas with me in the comment section below! What are you trading right now?