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Mobile Trading is becoming more and more popular these days as traders are constantly

on the go and technology allows them to be connected to the markets from anywhere in the world. More importantly, the number of global mobile users has been increasing by the millions every month and these users are driving the growth of mobile trading. Mobile Trading, by definition is a convenient approach to allow you to manage your trading from portable devices such as a cell phone, smartphone or PDA device. These devices allow you to get instant access to stock quotes, news, charts and check your stock market portfolio. All you need is a mobile phone or device that has GPRS, GSM or WAP capabilities. Nowadays, the most popular devices are the Apple iPhone, Blackberry and the Google Android.

It wasnt too long ago that investors and traders were using their mobile devices to make a phone call to their broker to place a trade order. Then the Internet came and revolutionized the whole brokerage industry. Some brokerage firms started accepting orders via the Internet, from a secure client application which is traditionally PC-based and deskbound. Then, most brokerage firms started developing web based applications that allowed anyone to place a trade on their desktop or laptop computer in the comfort of their own home. This helped create an entire industry of independent day traders. Now, the mobile device is starting to build an industry of mobile traders.

The benefits of mobile trading are obvious. It gives you convenient access to the financial markets 24/7 and the ability to trade from anywhere in the world. Whether you are relaxing on a beach in the Bahamas or sitting in a boring company meeting, you are connected to the markets. During the trading day, you can monitor your portfolio, and know the status of your investments and buy-or-sell orders. You will never miss a trading opportunity because you were away from your computer. Because your mobile device acts like a computer, you will get instant alerts to price and news information that could adversely affect your profits.

Many brokerage firms are realizing this huge growth in mobile trading and are building applications to suit the mobile trader. Firms like Interactive Brokers, E*Trade and Fidelity have developed trading software applications that you can download onto your mobile device. These applications allow you to enter in your buy or sell orders straight from your mobile device. It is so convenient and easy to use that anyone can do it.

However, there are some risks that you should be aware of when you are trading with your mobile device. It is not recommended that you trade heavily on your mobile device due to the unreliability of wireless mobile signals. You may have had a situation in the past when you were talking on your mobile phone and suddenly got a dropped call. You could experience a similar situation when you get a disconnected wireless connection on your mobile device and this could be especially stressful for you if you are in the middle of a trade. As well, because of the rapid price movement of the markets these days, this could be a risky endeavor. More importantly, it is recommended that you only use your mobile device to complement your trading while you are on the road. Your mobile device will never completely replace your desktop or laptop computer. One suggestion is to do all your chart analysis and research on your computer. Then, use your mobile device to alert you of any sudden changes in price or upcoming news while you are away.

The markets have been quite volatile since the start of the millennium in 2000 and it is probably going to stay that way. For many traders and investors who want to stay on top of the markets, mobile trading may be the missing solution.

by: Online Trading Coach

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