One of the most popular benefits of trading is the freedom it gives you in every aspect of your life. With that in mind, at Trading College we teach strategies, use indicators and provide online learning that allows our students to have the most flexibility and freedom. Trading has become more accessible and convenient whilst on the move. This is thanks to advancements in technology, and 24 access to the internet at your fingertips. Mobile trading makes it that much easier for you to earn money. As long as you have a wifi connection and your mobile device (mobile phone, tablet or laptop), you are good to go!
As traders, we are always looking for ways to improve our trading and become more efficient. As Lee Sandford, MD of Trading College mentions, mobile trading has become increasingly popular. Even more so with the wide availability of mobile apps. This has made it easier than ever to monitor your trades on the go. It’s perfectly possible to be laying on a beach whilst trading the financial markets. As long as you have an internet connection, of course! Below we have listed some benefits of mobile trading.
- Profit Opportunities – You won’t miss out on an opportunity to earn profits again as you can monitor your trades on the go. Utilise your time and this could increase your trading success.
- Time Efficient – You don’t have to be sitting at your trading screens all day. You can trade from your mobile or tablet around your current job or commitments. It’s great for those who are trying to balance their time and those who are always busy.
- Monitor And Place Trades – You can monitor open trades or place new trades.
- Up-To-date Information – You’ll have access to live market data which means you’ll always be updated, no matter what you’re doing or where you are.
- Ease and convenience – The ease of access to your trading account means that you don’t need to worry about any open trades you have. Therefore, you have more time for the things that mean the most to you in life.
- Freedom – You can be on holiday, be commuting to work or be spending time with your family and still be able to quickly and easily monitor and place trades.
- Access to a range of tools – You have access to numerous trading tools that can aid your trading. For example, some mobile apps incorporate backtesting or allow you to trade on a demo account. This is particularly useful for those new to trading.
- Education – You can take advantage of education services on your mobile. Our students can access their Learning Hub and members area through any mobile device. They can also access our Live Trading Room through our mobile app that has an inbuilt chat room.
- Analytical Tools – There are specific strategies and indicators designed for trading on the go and to suit and fit
How You Can Use Mobile Trading
Let’s recap on the two methods that we use at Trading College to make the best use of mobile trading.
1) Set And Forget
Let’s say you do your analysis and identify a trending market; you see the volatility, which means the market is moving, but the price is not yet at the level you want to enter the trade at. With set and forget, you set your orders with the broker at the levels you choose and everything happens automatically. You decide on your desired price to enter the market, and at what levels you want to exit the trade, and then you can forget about it.
2) Setting Alerts
If you want a little more control over your trades, you can set your phone to alert you when the price approaches the level you want to enter the trade at. Then you can open your account and manually enter the trade when you are happy to do so. This obviously requires a little more commitment than “set and forget”. However, it still means that you don’t have to sit at the computer watching the market move, or repeatedly check where the price is at because your phone will alert you when it’s nearly time to trade.
Either system, when you are using simple and straightforward strategies, means that busy people can trade on the go. These tools will become your best friends and allow you to be a truly mobile trader! There are no more excuses, you really can trade from anywhere at any time.