Global investment network eToro is making it easier for users to harness the wisdom of the crowds through eToro’s new Social Alerts application, now available for Android and shortly for iOS. The app, keeps users up to date with all the trading activity of Social Gurus on eToro OpenBook. A Social Guru is a top trader that leads a community of eToro investors who copy their trading actions.
Alerts include the traded market, the direction as well as the take profit and stop loss for each specific trade. In addition, users can tap into the wisdom of the crowd and take advantage of the collective sentiment based on the alert ratings, the number of users that traded using the alert and user comments.
“Rather than relying on trading signals generated by computer algorithms, these alerts are supplied by real people who have put their own money on the line. Not only that, but by using the built in social sentiment you can quickly estimate the quality of the alert based on how many users have converted the alert into a real trading position,” said Johnathan Assia, Founder and CEO of eToro.
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