- Trading

Trading the Forex market with a mobile device

Mobile is one of the widely used device in modern generation. When we were born, there was not that much use of mobile phones. Only some elite people used to have this device. They were heavy and they cannot be carried everywhere. With time, technology has changed and now it offers all the advantages of the modern lives through this small device. Forex trading is an online currency exchange where you place your trades on the internet and execute through your platform. Forex brokers offer many platforms that are now reaching the mobile users. Every modern platform makes are now offering their trading platform for smartphone users and a growing number of people are now trading in mobiles. This article will tell you if trading from the desktop is any different from trading in mobiles. Many people think these two are all the same but they are not. If you get some benefits that are exclusively only given to desktop users. This article will explain all the advantages of desktop versions over mobile trading platforms.

Always do the analysis on a PC

You need to do the proper analysis on a PC. Having access to the online industry in a mobile device doesn’t mean you will have to trade the market on such a small screen. When you analyze your trading chart in wider screen chances are very low you will miss the details of the market. This is where things become an extremely little bit complicated for the novice traders. The new traders are always trading the market and they mostly use a mobile device. The mobile device should be used only to monitor the trade. It should never become your prime access point to execute the real trade.

Multiple time frame analysis

If you still want to use your mobile device you must learn multiple time frame analysis. Majority of the successful Aussie traders uses multiple time frame analysis to filter out the false trade. Trading CFD is very challenging and you must consider this as your business. A small mistake can cause a huge loss when it comes to Forex trading business.

You see the full chart on one screen in desktop

The first advantage and the premium advantage that you get in the desktop is you get to observe the whole trend and patterns in your screen without scrolling. It is not possible in mobile software as the screen is much smaller. Mobile users have to scroll their patterns to have an overall idea of the trend change. As the screen only displays some portion of the trend and always the recent trend, you are likely to ignore the past patterns. The past patterns play an important role in determining the future price trends. If you do not use them in your chart analysis, you can miss a major part. Desktop users have better success rate than the mobile users as they can observe the full trends and patterns in one screen and make their plan.

Some options are missing in mobile trading platforms

It sounds unbelievable but many options are missing in a mobile trading platform. The software developers only provide you with the basic program that can execute and close your trades. Important options like the future prediction of the trend, drawing resistance or support level can be absent. It is not possible to incorporate all the desktop benefits in this small device and as a result, many important strategies have to be sacrificed.

Why do people use mobile trading platform then?

You cannot always carry your laptop with you all the time. You need to make sure it is fully charged and can access the internet all the time. Using mobiles removes these worries and you can monitor your trades from abroad also. They are only used when people cannot access their desktops. Do not make it the habit of the trading market with the mobile platform. Always trade on desktops.

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