With recent technological advancements, trading the stock market online has become increasingly popular. And with such low barriers to entry, more and more investors around the world are using online trading as the main way to get involved in the stock market.
Therefore, it has become a tough market to compete in, and traders need to follow the latest developments of the companies they invest in and be up to date about global financial, economic, and geopolitical news to spot trading opportunities. That’s why the use of smartphones is nowadays very popular for those looking for a convenient way to trade the market on the go, from anywhere in the world.
With increasingly cheap mobile internet plans and affordable smartphones, mobile trading is now accessible to almost everyone. It is especially useful for busy retail traders that need to keep an eye on the markets and their portfolio at any time – and of course, be able to buy and sell stocks (and any other assets for that matter).
All that is needed to start trading the stock market on mobile is to open a trading account with a broker that provides a web-based or a smartphone-based trading platform. While getting set up to trade from your mobile is pretty easy and straight-forward, it’s important to carefully choose a broker that provides reliable, robust and professional trading apps such as Easymarkets, as well as competitive trading conditions.
The most important thing is to pick the best broker (and trading platform) for your trading style and trader profile
Think about your trading plan and make a list of what you need to implement your trading strategy and get the best results (charts, timeframes, drawing tools, technical indicators, etc.). Then, make sure the platform you’ve selected can provide everything you need in your trading before funding your account.
Here are a few other things to consider: What are the trading fees? Is the platform user-friendly? Is there any long time out or loading time? Are the positions quick to open and close?
The second most important thing is to get into the right mindset when trading with your smartphone
Another important step is to get yourself ready and in the right mindset to trade from your mobile. While mobile trading allows you to take your trading anywhere with you, it doesn’t mean that you have to trade all the time.
One of the biggest risks to trading on the go is that you can often overtrade, as you have the markets at your fingertips. Do not deviate from your trading and always keep in mind your goals. Remember that you need to define realistic and reachable goals, so then you stay motivated and know how to achieve them.
A final word
If you want to trade on the go with your mobile phone, do some research before choosing the right trading app for you. Once you have it, put yourself in the right mindset and always follow your trading plan to reach your goals
