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Trading From Your Phone

  • #21
  • Aug 23, 2018 11:57am Aug 23, 2018 11:57am
Quoting RichC
{quote} Hello Guys, Trade from a smartphone! I do! In these times of Trump why not. Trump sneezes and moves the market 20 - 30 or more pips. A Twitter account and a trading account on a smartphone is a pretty good scalping strategy. Easy pips for when you can't be at your laptop or desktop. Anyway, whatever edge I can get I'll use it if it works.
That is definitely a viable approach, at least for those who feel comfortable opening trades on a phone.
  • #22
  • Aug 24, 2018 2:47am Aug 24, 2018 2:47am
I'm guessing the simpler the approach, the more viable phone trading would be. There are apps with indicators available but such a small screen would get pretty busy really quickly once indicators start to be added.

It would be interesting to know that out of those who trade on their phones, how many use a really simple approach e.g. simple price action.
  • #23
  • Aug 24, 2018 12:02pm Aug 24, 2018 12:02pm
Quoting tradesimply
I'm guessing the simpler the approach, the more viable phone trading would be. There are apps with indicators available but such a small screen would get pretty busy really quickly once indicators start to be added. It would be interesting to know that out of those who trade on their phones, how many use a really simple approach e.g. simple price action.
I generally try to avoid using more than three indicators on a single chart, even when I am using a PC or a laptop, what's left for a phone.
  • #24
  • Aug 24, 2018 12:17pm Aug 24, 2018 12:17pm
Quoting tradesimply
So I've been meaning to ask for ages... Who trades from their phone? Most people imagine traders sitting at a big desk surrounded by numerous monitors and I feel that most would not admit to trading off their smart phones, in case it makes them look unprofessional. But there are a lot of advantages of course! So, I would like to know who is happy to admit to using their phone for any or all of the following: - Scanning charts. - Keeping an eye on prices on the go. - Actually making a trade or setting an entry order. - Keeping an eye on an open trade....
I think checking price or chart, it’s okay (mobile trading) but placing order is not possible to me.
  • #25
  • Aug 27, 2018 11:52am Aug 27, 2018 11:52am
It makes sense,i guess,to a pro. to solely use their phone for monitoring/checking in on how your trades are going-and for closing them in case of emergencies.
while away from the office.


Other than that i trade way too many lot sizes/positions in our company to take all my trades using my phone.1 wrong move-as a result of bad/unclear trade entry analysis from the tiny-tyny mobile phone screen and i feel bad for days..my reputation goes/infact flys out of the window aswell :-)...maybe its just me but i hate losses with passion!!(no matter how big or small)

So,i guess it depends on each and every traders goal-mission and vision.if you trade small and are still in the 9-5 race,i presume mobile phone trading is more efficient and easily accessible.
But hey as the years pile on in our business YOU BECOME ALLERGIC TO LOSSES-no matter how small.#its a matter of choice.
but loosing sucks-so do everything in your power-use every resource at your disposal to avoid making losses and losses excuses later on.(you know_excuses like hey i only lost because blah blah my phone this and that )

As Jordan Belfort said..."I don't ask my clients to judge me by my winners, but to judge me by my losers_because i only have so few..!!"
  • #26
  • Sep 6, 2018 1:26pm Sep 6, 2018 1:26pm
I prefer my computer to analyse and trade. But I do use my phone to trade too. If there is a time I need my pc but I'm away from my computer I can still do that.

There is an app called TEAMVIEWER. You simply install it on your mobile phone and on the pc (i have it on my iphone) and login with a secure password. It will show on your phone the exact screen which is showing on your home computer. It might take a little more time to scan through the mt4 platform etc because there is no mouse, but it can do things that you cannot do on your mobile, like open/close your ea's/scripts/indicators etc.

I hope this helps.
May Peace & Blessings Of The Almighty God Be Upon You.
  • #27
  • Sep 7, 2018 2:52am Sep 7, 2018 2:52am
I wish I could one day ask my personal assistant to do all of the above plus be able to set up trading rules like a kind of EA.

Just imagine: "...Ok G..... / Hey S... here is a new automated system: when H4 at close crosses Kijun Sen please..."

and then: "...Ok G..... / Hey S... here is a new transfer instruction:..."
I used to be indecisive but now I'm not so sure...
  • #28
  • Sep 7, 2018 4:07am Sep 7, 2018 4:07am
Quoting Filipo1
I wish I could one day ask my personal assistant to do all of the above plus be able to set up trading rules like a kind of EA. Just imagine: "...Ok G..... / Hey S... here is a new automated system: when H4 at close crosses Kijun Sen please..." and then: "...Ok G..... / Hey S... here is a new transfer instruction:..."
You can still do this using the TEAMVIEWER app, but maybe not voice control.

Simply edit your EA to do whatever you want and save it in another name.

I don't know about any specific EA but here is an example:
1) EA1 = when H4 at close crosses Kijun Sen [email protected]/SL10/TP20/TSL05
2) EA2 = when H4 at close crosses Kijun Sen [email protected]/SL10/TP20/TSL05
3) EA3= when H4 at close crosses Kijun Sen ALERT@Notification/Email etc.
4) EA4=CLOSE ALL

Hopefully you get the idea.

Hope this helps.
May Peace & Blessings Of The Almighty God Be Upon You.
  • #29
  • Sep 8, 2018 6:07am Sep 8, 2018 6:07am
Another reason trading from your phone can be a good idea:

One has to have a super-simple trading plan due to the small screen. In the same way that living in a small flat/house means you physically can't keep on buying more and more stuff, trading from a phone means you physically can't keep on adding more and more indicators.

It's self-imposed trading minimalism!
  • #30
  • Edited 7:24pm Sep 8, 2018 7:03pm | Edited 7:24pm
Why do most pro-traders have several monitors? They are watching the market as a whole.. Stocks, bonds, Fx, gold, news like 9-11, tsunami.
Even if you only trade fx.. Its good to know where the money is flowing around the world..
Its a lot harder to just trade on a phone..

a phone is good to have in case of power outage/ internet outage as emergency back up.
The only system that will work is one designed by and for yourself.
  • #31
  • Sep 9, 2018 3:27am Sep 9, 2018 3:27am
Quoting bloodpoodle
Why do most pro-traders have several monitors? They are watching the market as a whole.. Stocks, bonds, Fx, gold, news like 9-11, tsunami. Even if you only trade fx.. Its good to know where the money is flowing around the world.. Its a lot harder to just trade on a phone.. a phone is good to have in case of power outage/ internet outage as emergency back up.
Agree that pros tend to watch a lot more of the market but they have a completely different agenda to me. I am only talking from personal experience when I say the times I have tried multiple screens I just got information overload and my trading improved when I decided to keep things simple.

Thankfully, we are all different! I'm a minimalist in life generally so that might explain how I easily get overwhelmed with too much stuff.
  • #32
  • Sep 11, 2018 3:05am Sep 11, 2018 3:05am
I use MT 4 mobile platfotm and Amarkets for trading. It's really awesome to trade from my device everywhere
  • #33
  • Nov 3, 2018 2:01am Nov 3, 2018 2:01am
I always trade forex by mobile phone and make money anywhere. Now Computer no need for me.
  • #34
  • Nov 3, 2018 12:45pm Nov 3, 2018 12:45pm
Quoting bloodpoodle
Why do most pro-traders have several monitors? They are watching the market as a whole.. Stocks, bonds, Fx, gold, news like 9-11, tsunami. Even if you only trade fx.. Its good to know where the money is flowing around the world.. Its a lot harder to just trade on a phone.. a phone is good to have in case of power outage/ internet outage as emergency back up.
One of the rules how not to lose money on forex: do not trade from your phone.
  • #35
  • Last Post: Nov 3, 2018 12:49pm Nov 3, 2018 12:49pm
Quoting KingEURUSD
{quote} One of the rules how not to lose money on forex: do not trade from your phone.
I want to add some more rules.
Tips to save thousands of dollars to traders:
1. Do not trade with the phone.
2. Do not buy courses and training.
3. Do not use indicators.
4. Do not trust the broker.
5. Do not use the last of your money or the money of your family.
6. See my trading results,13 years of experience. 90% of deals are profitable. Forum for discussion: forexmyprosperity com
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