One concept that Piggy has been promoting is for investors and traders to be kept updated on market developments through social trading groups. These are basically informal WhatsApp-based groups consisting of individuals who share ideas and news flow about a common interest, which in this case is trading on Zimbabwe capital markets. Piggy also supports news platforms such as the Daily Insight on tambarara.com (www.tambarara.com) given that the news insights also inform traders on appropriate strategies to pursue. News Trading is a technique or method that is used to trade currencies, shares, indices and other instruments on the financial markets. It is essentially an attempt to profit from price movements emanating from immediate market reactions to major news and economic data announcements. Generally, economic as well political news reports often spur strong short-term movements in the markets, which may create trading opportunities. For example, announcements about interest rates, unemployment or the central bank’s policy shifts can affect exchange rates and share prices. Similarly, news relating to corporate profits or a change in management can affect the share price.
We note that news channels also offer breaking news that can help you judge whether your stock purchase is a winner or a loser. News trading has largely been applied in foreign exchange trading given that exchange rates of currency pairs fluctuate based on many criteria which includes fundamental announcements from that country. However, it is very relevant in other markets such as the share and commodities markets. The idea is that traders should be well informed through news-wires on all major economic events that affect investment markets. Access to financial news channels such as Bloomberg, CNBC and BBC News is of paramount importance. In the case of Zimbabwe capital markets, certain information and news sources could be critical in terms of implementing news trading strategies. Some of the important market moving news include political events, election results, country ratings, interest rates, gross domestic product, employment numbers, trade balance, inflation and company financial results. The following is a sample of platforms, newspapers, TV and radio stations that can assist traders in terms of keeping abreast of economic and political developments;
Social media platforms also remain an important source of news despite the risks of “fake news’. Twitter, a website and mobile platform where individuals post a 140 character thought, or “tweet”, represents one of the newer social media resources that enables one to keep abreast of critical news. Twitter is currently revolutionizing agriculture markets in the USA. Commodities brokers and traders are paying close attention to tweets as they can now gather real-time updates on planting intentions and yields and tracking a multitude of trends such as weather and flu outbreaks. Twitter also allows traders to follow news outlets and research groups, giving them tips and recommendations that can influence their trading decisions. In more than one instance, some market-moving data or news has appeared on Twitter feeds before it was published on the actual websites. Stay updated by joining a piggybankadvisor.com social trading group today.
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