What a few weeks!
I’ve made a massive profit buying and selling the Apple iPhone 6 and the Apple Watch…
News of the Royal baby made me 2,070% and I’m up 341% on the Invictus Games!
And a little more controversially, I banked a 2,083% profit on Judge Masipa from the Oscar Pistorius trial and 263% from the death of Bond villain actor Richard Kiel.
And in the last 24 hours I’ve made an incredible 10,000% return on the Scottish Vote!
“OMG Nick, have you finally gone over to the dark side?“
Don’t worry, I’m not dealing in dodgy fake goods or illegal bets… I’ve got hooked on a great online game called Hashtagfutures.
It combines the principles of financial futures trading with social media: so instead of predicting the future price of gold, pork bellies or oil, you predict which keywords and phrases will be trending on Twitter.
Don’t worry, it’s far simpler (and a lot more fun) than it sounds. Let me explain
Put simply, a hashtag is an easy way for people to categorize, find and join conversations on a particular topic. It’s a word or unspaced phrase that is preceded by the # symbol (eg: #London).
If the hashtag term appears in more and more tweets it can start to trend and then appears on your Twitter page indicating it is popular.
So for example, some of the most popular hashtags have been #applewatch, #pistoriustrial, #royalbaby and #scotland
So the point of hastagfutures is to buy and sell these hashtags with the aim of catching a term as it rises in popularity (and therefore value.
I joined last week and I’ve managed to turn my 1,000 starting bank into over 38,000 (just imagine if that was real money!).
And I’m now ranked at number 26th out of 550 players.
Fancy your chances of beating me?
The website is still very new and not getting much publicity, so I thought I’d do my bit to plug it. It shouldn’t take you any more than 5-10 minutes a day updating your portfolio… but having said that this game is so addictive you’ll find your self sneaking a peek more often to see how you are doing in the rankings!
Apart from the fun of seeing your virtual bank grow and your ranking improve, I think it is actually very useful in term so making real money.
- It teaches you the principles of buying low and sell high
- It helps you to understand the dynamics of how trends emerge, grow and decline
- With this mindset you can better identify potential business opportunities and profitable niches
There have even been some serious academic studies on using social media trends to measure market sentiment to predict the rise and fall of stock markets.
After all, it’s well known that financial markets are not rational. They are driven by emotions of individuals and crowds.
There are companies appearing like Hedgechatter and SNTMNT who offer a service that analyses market sentiment to help investors predict stock price movements. It’s also seen as a serious alternative to traditional fundamental and technical analysis.
There is definitely a move towards more of this ‘big data’ analysis. And I have no doubt that rather than being something that only big business and academics will use, we will see more user-friendly tools that will allow the likes of you or me to slice and dice this data to help us to identify new opportunities.
But that is all for the future…
If you fancy testing out your trend spotting skills today, head over to hastagfutures now.
And while you’re their why not follow me @nicklaight