StockTwits: The best social media site for traders and investors!
Most of the time, I use this blog to write about breakout trade ideas, and trend following education. But today, I want to do something a little different.
And as you may know… I’ve been on Twitter for a while… where I have fun sharing charts and trade ideas.
For some crazy reason, I never thought to join StockTwits!
And by the way… in case you aren’t familiar… StockTwits is like Twitter, except it’s totally focused on trading and investing!
Here’s a screenshot of the home page to help you see what I mean:
In case it’s not obvious, this is a social media site (and app!) that’s completely geared to those of us interested in financial markets.
So… in terms of signing up…
… Talk about a no brainer, right?
Well, to be totally honest with you, it took me longer than it should have to get on board. But yes, I did finally get around to joining StockTwits!
And… I must say… I’m having a LOT of fun so far!
That’s why I want to show you my favourite aspects of this social media community, including the key features that are helping me get max value as a trader!
I’ll be the first to tell you I’m still new to StockTwits.
Thus there are likely to be features and benefits I haven’t discovered yet.
But for now…
Let me show you some of the great things I like about StockTwits… (so far!)
StockTwits: a social media platform built with traders in mind
As I mentioned, I’ve had a lot of fun sharing ideas and stock charts on Twitter since I joined just over a year ago.
… But you know what?
While there are lots of traders on Twitter, there’s lots of other noise too!
This can make it hard to consistently find actionable trading ideas and market commentary.
On the other hand…
StockTwits is clearly built for market participants who want to keep their finger on the financial pulse.
The whole site is organized around different streams that make sharing relevant stock market ideas easy and intuitive.
Just take a look at the profile page:
Per the screenshot above, you can see there are many streams. But it gets better!
You can also click to expand and see even more streams:
This lets you curate the exact trading community and idea flow you want. Cool, right?
Here are some of my favourite StockTwits Streams:
- Trending stock trading ideas – makes it super easy to be aware of where the buzz is on any given trading day! Really convenient feature.
- Charts! – If technical analysis is your thing then you might want to call this StockTwits stream home!
- Recommended users – A great way to stay up to date with news and commentary from trusted voices (especially useful for new users!)
- Additional asset classes – Based on the name, you might think StockTwits is only for trading stocks. But there are all sorts of other streams for currencies, futures and forex. So no matter what you’re trading, there’s something for you in this diverse trading community.
And these streams are just the tip of the iceberg!
As you’ll see below… and unlike Twitter… you can tell StockTwits really puts in a lot of effort to get new users up and running.
And come to think of it…
Maybe this focus on building features for traders is one of the reasons Stocktwits is growing so fast!
Let me show you a few more of the key features that make StockTwits the preferred investing platform for traders and investors!
How To Get Up and Running with StockTwits for Maximum Value:
I wanted to share my StockTwits onboarding experience with you while it’s still top of mind.
StockTwits has a few simple steps that make it very easy to get value out of the platform, from the very first second you join.
“I can’t help but feel Twitter could learn a thing or two about onboarding from StockTwits!”
When you join StockTwits, it asks you to provide some of your personal trading and investing preferences.
By the way, your preferences aren’t set in stone either, you can easily update your settings at any time:
But anyways, by sharing your experience level, trading timeframe and investing style, StockTwits customizes your experience by suggesting recommended people and streams to follow based on your interests.
Neat, right? This way you can instantly tap into the hive mind of StockTwits, even if you’re brand new to the platform!
The market preferences you select will be displayed on your profile. Here’s what it looks like:
This might seem like a small detail. But I really find it helpful… because… it puts important context front and center!
Instead of just seeing updates from a stranger, you can easily put the ideas of others into perspective. And all it takes is a quick glance at their profile page.
You might choose to pay more attention to people with the same time frame and investing style as you, because this can be a great source of trading idea flow.
On the other hand, you may decide to follow people with a different trading method so you can see how others are interpreting market moves, in order to help diversify your analysis and perspective.
But that’s not all…
StockTwits also prompts you to set-up a watch list.
This is another great way to get value, because your stocks of interest are always just a tap away.
In the screenshot below, you can see my StockTwits watch list is pretty basic. But it’s a super easy way to keep my finger on the pulse of the market.
And once your watchlist of stocks and ETFs is set up, you can easily view and edit it at any time.
And by the way…
If you’re a newer trader still trying to figure out what financial markets are all about, then you might also want to check out MoneyBadger by StockTwits.
What’s Money Badger you ask?
Well, good question! To put it simply, you can think of Money Badger like Investopedia. But more fun!
Money Badger is an educational yet entertaining website provided by StockTwits. They publish new articles every day sharing insightful market commentary, financial news, and educational content to help you better master the markets.
Speaking of sharing, it’s probably worth mentioning here the StockTwits ecosystem is also plugged into the mainstream social media platforms as well.
Share Your StockTwits Knowledge with Social Media Integrations:
One of the reasons I delayed joining StockTwits is because I didn’t want to worry about ANOTHER social media platform.
But as it turns out, those fears were unfounded!
That’s because, StockTwits makes it super easy to integrate with Twitter (and Facebook).
So that means…
If you already have a Twitter account (like I did), it’s super easy to link it with your StockTwits profile.
And then with just the push of a button, anything you publish on StockTwits will also show up on your Twitter timeline! What’s not to love about that?
For me personally…
This integration was a great feature because I already have a pretty healthy Twitter following. And I can keep interacting with them even by publishing on StockTwits. How convenient!
Of course, these on-boarding features aren’t the only good thing about StockTwits. Not by a long shot!
On the contrary…
There are many other great features that confirm StockTwits was built by traders, for traders.
Let me show you what I mean about this market-focused social media network…
StockTwits Key Features for Traders and Investors:
By now I hope you’re starting to see that StockTwits is a great social media community for traders and investors alike.
But if you’re still not convinced, just keep reading for a few more compelling proof points.
One of the neatest features is the social media heat maps that StockTwits provides.
Because while I’m sure you’re familiar with heatmaps from the likes of FinViz, the Stocktwits version is a little special!
Here’s what it looks like:
“While this may look like a regular heat map, there’s one important difference!”
As you might know…
Most heat maps give more space to larger companies (based on market cap). But in the StockTwits heat maps, the area for each stock ticker represents the volume of messages about that stock!
So basically… by using this heat map…
“You can get an idea for how popular a given stock is with other traders!”
Why is this important? Because…
You’ll instantly have a MUCH better idea of whether your latest stock pick is a trending headline story, or an under the radar play that the crowds haven’t caught on to yet.
I’m quite impressed by this feature because it’s a unique way to look at information about a stock.
And to paraphrase Dr. Brett Steenbarger, unique information can lead to unique results in the market!
But you know what?
StockTwits doesn’t stop there! They also share some other great market data with their users that you won’t find anywhere else.
And don’t worry, I’ll show you exactly what I mean…
More StockTwits Features For Trading Insights:
In case you didn’t notice from the heat map above, StockTwits has some pretty cool data!
And what’s even cooler is how they share it with their community.
Now of course StockTwits users don’t represent the entire market. But I’m willing to bet they’re a pretty good cross-section!
That’s why I was excited to see that StockTwits provides a great view of the bullish or bearish sentiment for different stocks.
And by the way…
StockTwits doesn’t just give you a snapshot of the current sentiment as shown in the heat map above. In fact, you can actually see this data trended too!
In particular: this StockTwits Signal page lets you see which stocks and industries are trending up (or down) the most in social popularity over the last week to 90 days:
But the fun doesn’t stop there! You can also go to pretty much any individual ticker page and see a similar sentiment graph.
Here’s what it looks like for the QQQ ETF, for example:
The default view on the ticker page here is a chart (which is also helpful!) But you can easily click the sentiment tab to pull up the graph above.
So once again, can you see why this is starting to look like the social media platform really made BY traders?
It’s pretty cool.
To be fair though, I personally don’t trade based off sentiment data. But…
It can still provide VERY helpful context to see how price action and news stories change the perception traders have towards a stock! Know what I mean?
Along the same lines…
By just clicking a quick tab on the sentiment graph above, you can also see message volume over the last 30 days for any tickers ok the StockTwits platform.
Again, I find this to be really helpful context for understanding how interest in a stock waxes and wanes over time.
It’s a great little feature to help make it easier to find the signal in all the social media noises. Make sense?
But you know what? Just like a bad infomercial, this social media platform gets better…
The Best StockTwits Feature of All:
Okay, I know we’ve covered a lot of ground so far. But you know what?
I’ve saved the best for last!
There’s one more feature that StockTwits allows which has really added a lot of value to my trading day. So what is it?
Well, in my opinion, the coolest feature StockTwits has is the ability to subscribe to the updates of users!
This might seem simple, but it’s been a great way for me to stay up to date with my favourite traders and investors!
“It’s like getting text messages from Howard Lindzon!”
And you know what? It’s really easy to set up, too! Let me show you how it works.
Just go to a profile (like Howard’s). Then, you’ll see not only can you easily “follow” him, but you can also subscribe to push notifications for each new update!
Now once you subscribe, you will receive an alert on your smart phone whenever the person you follow posts an update to StockTwits!
And in my opinion…
This is the perfect way to stay up to date with the traders you’re trying to learn from!
Of course, you’ll want to be careful not to overdo it (or your phone will never stop buzzing with updates!)
But this level of control really adds value to the StockTwits platform because you don’t have to monitor your streams all day.
For those of us with busy lives (all of us?) this can really help you stay on top of trade idea flow more efficiently. And what’s not to love about that?
So if you want to stay on top of my trades, you can feel free to subscribe to me on StockTwits and you won’t miss a buy or sell!
But you’ll have to take my word for these trades… (until StockTwits integrates with Canadian brokers!)
Yup, that’s right…
Verified Trades: StockTwits Broker Integration:
If you’ve been on finance-related social media for any amount of time, you know there is a LOT of smack-talking.
… (Of course if you’re reading this I’m sure you’re a kind and generous soul!)
BUT… you must admit… many traders have a LOT of ego on the line and hate to admit when they’re wrong.
So I commend StockTwits for building the infrastructure to combat this in a meaningful and lasting way. How did they do it?
Well, as I alluded to above and in addition to their block/report features, StockTwits has started to allow for broker integrations!
And that means… IF your broker allows it… you can link your brokerage account with your StockTwits profile.
When you place trades in your online brokerage platform, it can immediately publish the trades to StockTwits as a “verified” update!
Pretty cool, isn’t it? Seriously, I really commend StockTwits for thinking this far ahead. Plus…
As more and more brokers support this feature, I’m sure it will become more popular.
And that’ll also help transparent and authentic individual traders stand out from the crowd!
Think about it…
While there is no shortage of online traders talking the talk, this will allow individuals to really put their money where their mouth is!
Personally, I’m really curious to see this feature set evolve over time. And I’ll look forward to sharing my own verified trades in the future whenever my broker gets around to supporting it!
Okay, we’ve covered a lot of ground, but before we wrap this up… you should know that StockTwits is always innovating.
Stay tuned for their new home page launch. The Beta Version looks great:
Conclusion: Why StockTwits Rocks for Traders and Investors:
By now, I hope you have a great understanding of why StockTwits is of such value to individual traders and investors.
But just to recap, here are some of the highlights:
- StockTwits makes it easy to get started! Their on-boarding process and finance focused features makes it easy for anyone to start finding and sharing idea, fast!
- StockTwits has a unique data set that you can use free to gauge sentiment and interest for any stock they follow
- StockTwits makes it easy to stay up to date with traders and tickets you’re interested in using their customizable push notifications.
So in conclusion, I can confidently say I’ve had a great experience on StockTwits thus far!
I’m sure I still have lots to learn, and there are many other great traders for me to discover.
But overall… and even if nothing else improves, (hard to imagine)…I’m very happy with my StockTwits experience to date.
I’ve already made some great connections and found some even better trading ideas.
So what are you waiting for?
If you’re already on StockTwits, come give me a follow and say hello. And if you’re still dragging your heels about this unique social media community, I encourage you to get off your laurels and come join the fun!