Mobile Trading

The development of communications and mobile devices in recent decades has opened wide access to trading. It can be engaged in public transport, on a lunch break in the office, in cafes, in nature. Having a stable Internet and a device with a connection to it - everything you need to work.

The image of trading stocks and currencies from the past is a person in strict clothes in the building of the exchange. The modern image is a man lying in a hammock under palm trees on the ocean with a tablet in his hands. More associated with advertising, but in fact it is quite possible.

Strengths and weaknesses of mobile trading

So the main advantage is obvious. The opportunity to make money on Forex, being in a variety of places. In addition, the time that the trader can devote to his occupation increases.

Opponents of mobile trading point to a loss of quality. First of all, it is related to the capabilities of the devices. The screen of a phone or tablet may have good resolution and pixel density, but its size limits the full viewing of graphs. Yes, the big screen is better for technical analysis, it's undeniable.

Also, the success of earnings on Forex depends on the calm environment in which the trader is. It is better that nothing distracts him from immersion in the process. But here each person has a different situation. One can afford to work in silence at home, and public transport is too noisy for him. Another person lives in a small apartment with young children and pets, where peace is out of the question. It is easier for him to retire with a tablet on a park bench.

Mobile trading tactics

First of all, mobile trade is relevant for people working in a non-trading sphere and considering it as an additional source of income. But restrictions on trade in the workplace and on the road impose significant due to the lack of the possibility of deep immersion in the process.

The solution is to simplify the process of operations. That is, independent technical analysis and study of expert opinions is better to deal with in the evening or morning, when there are no distractions. So that during the day it remains only to execute pre-made decisions in case of development of the market situation according to the forecast. It is even better to submit applications for the execution of deferred orders in advance, and from a mobile device then to control the situation with adjustment if necessary stop-loss and take-profits.

The trading strategy in this case should involve opening trades for several days. Attempts to engage in active intraday trading with a lot of orders are likely to lead to a loss of quality in both trading and core work.

And finally an interesting fact from history. The opportunity to work with securities outside the exchange appeared at the beginning of the last century. The phone and telegraph tape were used for this purpose. Then the speed of execution of transactions allowed to do it, but the people who were in the trading hall still had an advantage.