Mobile Trading - An Office In
Your Pocket
Wireless trading platforms
allow you to trade anywhere, anytime. As long as you've got an
internet connection (to receive real-time data) and a handheld
unit like a cell phone (preferably with a stylus and touch
screen if you want to get fancy), you're good to go. Platforms
such as MG Wireless Trading, InterbankFX Mobile and ACM make
the mobile process easy.
Simply put, the mobile terminal is installed on your PDA and
can be used in the same manner as when you are on your
computer: accessing quotes and news; monitoring your account
status and performing trade operations; and performing
technical analyses.
Take your work with you
anywhere; with wireless trading, you're connected 24 hours a
day to the forex market. When you're away from your computer,
not only can you trade, but you can even open a demo account
(or a real account), and you are able to forecast future price
dynamics through manually attached chart line studies as well
as embedded technical indicators.
The latter can be set up manually
as well, if you prefer different time frames or symbols.
Basically, all the bells and whistles you expect at your
computer will be available to you in your handheld
unit.
It must be noted, however, that if
you are in an area outside your service range, you should not
log out until your order has been confirmed. This is one of the
reasons that practicing wireless trading on a demo account is
recommended by most of the major trading providers.
In addition, you can learn how to
monitor progress of a trade by configuring your cell phone to
receive alerts. For instance, you might have a special ring
tone every time a ten unit move occurs (in whatever direction).
By experimenting with the features of the platforms offered by
the likes of eToro, ForexYard, or InterbankFX Mobile, you can
find out how to best use the freedom of mobility, and no longer
worry that you are unable access your account while away from
your computer.
The benefits of this kind of
mobility are certainly apparent: you can go away on business or
on vacation, and still make money by trading. Your current
handheld unit, whether a BlackBerry, mobile phone or PDA, will
allow you to work from anywhere with a variety of order types;
you can create charts and view historical data; you'll be able
to monitor your preferred currency pairs, and have access to
popular technical indicators.
It's pretty much an office in a
pocket, if you will (unless you're working from your lap-top,
of course), and it's truly emblematic of our high-tech,
high-performance, and highly mobile world.
Interbank FX (http://www.ibfx.com/platform/wirelesstrading.aspx
) offers interbankfx mobile
services. Art Gib is a freelance writer.
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