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  • Category: Miscellaneous

    Social trading as a means to reducing poverty and income inequality

    Dear members, you must have heard about the concept of social trading where traders share their revenue equally. They invest in many industries and have proven to be very successful. Some of the richest folks like Warren Buffet support this concept. Do you think that social trading can enable students and small time businesses to earn a secondary revenue and thus close the gap of income inequality in our country?
  • #712786
    I am not very sure. These days I have seen many people who are investing in different industries. They are not investing in a single place. They park their money in different company shares. Sometimes they may be making god money but sometimes they are ending up with losses.
    Where from poor and students can get money for social trading. I am not very clear of it. What I think is students can try online earnings during their free times or they can try for part time jobs to get some income. Many students who are studying abroad work part time for their expenses there.

    drrao
    always confident

  • #712796
    Sometimes, some sites are seen in the Internet promising huge income if the members can add members in their sites but still their modulus operandi is not very clear to me. I would make an humble appeal to the young generation to stay away from such nefarious designs. There may be a big catch behind such operations not known to me. If you want to have some stable income, resort to tuition in the subject in which you have deep passion or clarity in the subject. Make a group of four students and if convenient, operate three such groups. If your demand for this part time job picks up, rescheduling of the arrangement is possible. I think it is a fare avocation fulfilling your money necessity apart from sharing knowledge to those genuinely interested for the same.

  • #712853
    No Shankar sir, social trading is total different from what you're referring to. The concept that you're referring to is called MLM and some of the schemes that companies run under this concept are nothing but get rich quick scams. Social trading is very similar to normal trading except it has more opportunities for beginners and novice. Unlike normal trading which requires more expertise about the share markets, mutual funds, company stocks etc.

  • #712857
    Yes Ryyu, thanks for your response. I did not refer to social trading specifically but I hinted at some sources in the websites which will kill their time apart from loosing their money. Hence before joining to such sites, they should be more careful.

  • #712920
    We have to see who is managing that scheme or endeavour and we have also to be satisfied by the credentials and authenticity of the person or organisation which are coordinating these activities. They will also have to recover the running costs of such an enterprise from the profits made and after that if there is some good distribution to the members then it makes sense to go for such schemes. They look more and less like the Mutual Fund houses of today who claim that they will distribute everything earned back to the members once the running expenses are deducted from the profit. Sometimes there is a significant difference between what they say and what they do. We have to be careful about these new nomenclatures which are like old wine in new bottles.
    Knowledge is power.

  • #712973
    Here's a link for further study on what is termed as social trading:

    https://bit.ly/3malQ2j


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