The Benefits of Using Mobile Apps for Day Trading

Trading on financial markets is something a lot of people have been catching onto since online trading became an option. It can be a very interesting way to make some extra money, and also to polish your analytical and research skills, plus learn more about business and economics. Some people trade as part of their general money management strategy, some do it as part of their business, and others do it just as a fun side-line that can bring in a small second income, but whatever the level of trading, online tools can give a huge advantage.

The Rise of Mobile Trading

Now, most platforms like ETX Capital that can be used to trade things like forex, stocks, commodities and CFDs online offer free mobile apps to their customers, and mobile trading is becoming a huge part of the sector. Of course, mobile trading offers all of the same advantages as mobile ‘everything else’ does – the freedom to access your account and perform your activities almost anywhere – but there are some other reasons why trading on mobile platforms can give traders an edge:

Mobile Trading Allows Traders to Respond Fast

In the past, day trading or engaging in a forex trading session would basically mean being tied to your computer closely watching prices and being ready to leap on trades as soon as conditions in your strategy presented themselves. Now, with mobile trading, it is possible for traders to set up notifications that can tell them in real time when things they have been waiting for (such as prices passing set thresholds from their own trading strategies) occur. This means traders can be more opportunistic, not having to miss out on opportunities that occurred while they weren’t at their computer actively working on trading.

Monitoring what is happening on open positions is also simple with push notifications, so traders can be active even when they are at work or doing anything else that prevents them from being glued to their trading screens. Some actions can even be scheduled and automated, and while you don’t need to do this through an app and can also do it from a PC, tracking what actions are being taken for you by the automation you set up is far easier on a mobile device you always have with you.

Fast Mobile Broadband Means Accurate Trading And Analysis

Mobile trading is becoming even better for traders as fast 3G and 4G mobile connections mean that the rapidly changing prices that drive trading decisions are reported to the user in real time. This also means traders can make their transactions safe in the knowledge they are being placed at the time of the opportunity. When dealing with financial markets, things can change in an instant, and apps that work in real time remove a lot of the frustration that used to come with internet trading.

Smartphones and Tablets Offer a Great Working Environment for Traders

Many traders value staying up to date on economic and business news through both media outlets and social media, and also like to use tools designed to help with trading. Using apps for all of this as well as to actually execute trades makes a phone or tablet an ideal environment for trading. Reference materials such as trading guides, economic calendars and videos about trading can all be accessed easily, and switched to whenever the trader needs them.

It is no surprise, given how much trading apps can help traders make the most of their activities, that more and more trading is moving from the desktop to tablets and phones. It will be interesting to see how trading tech continues to evolve and offers traders even greater flexibility and opportunity in future.