Trading Forex From Your Phone Has Never Been Easier
Historically trading Forex has always been limited to those who have had access to the right people. This meant that retail traders struggled to gain entry. One of the great aspects of the internet is that it’s lowered the cost of entry and accessibility.
Now you don’t even need a laptop to trade. You can trade solely from your phone.
It has to be said that if you want to be a pro trader there are aspects of trading which are better done on a laptop (e.g. analysis).
Moving forward this may not be the case. Access to information and the way in which information is being shared it is possible you do not even need to carryout analysis.
Of course signal providers to some level or another have been around for years now, however the apps I am going to share will allow you to start trading and potentially* start making money with zero to a little knowledge.
1. MT4 or MT5
MT4 is a game changer especially on the phone. By allowing retail traders to access trades from their phone. This is an app you need if you are like me and want to trade as you are out and about.
The purest traders will tell you, “you should only trade from a secure internet connection”. Now I do completely agree if you are not going to set take profits or stop losses, then yes it is definitely not advised to trade in areas in which you have no internet or signal on your phone.
But, with more and more hotspots and cafes offering free wifi etc then you should have no issues.
For me personally, having access to this app has two issues.
- You could over trade, which means that even when you hit a slump sometimes you try to force a trade which isn’t there which means you end up losing more instead of just walking away.
- The app can drain your battery, which means you can’t trade or you can’t pull out of a trade if you battery is dead.
With that said the value that is provided far out way the negatives when used properly.
If you have read any of my other articles you may have come across Immediate Forex Trading Results, which outlines the one task I do every day before trading (checking whats happening in the news).
Now it is possible to do this through Tradays. The app combines all the news stories which will impact the markets. These news stories are colour coded so that you can easily determine whether you should be trading or not.
For inexperienced traders you should avoid any red news items at all costs. These are new items which could send markets in the opposite direction to which any analysis is telling you.
3. Currency Heatwave
For me this is a relatively new app, but having spent a day reviewing it and using it to help me analyse which currencies I should be look at, this needed to be shared.
Currency Heatwave, analyses currencies and breaks down the information so you can see the strength of the currency, the volume, the volatility and sentiment. You’re able to see all this information over multiple timeframes and receive alerts.
Exposure to the app is minimal but the information and guidance it provides will help a new trader.
Bonus: Trading University
Having personally traded inconsistently for a few years it became clear something needed to change.
After speaking to a lot of people through PIP Circle, it became clear this is the case for many others.
This is why the partnership with our trading university was put in place. All of these apps are great but if you do not understand what is happening in the market it becomes very painful.
The skill of being able to trade is a skill which you can use all the time and is not reliant on anyone else. How well you do at trading comes down to one thing. YOU.
Yes the markets will behave weird every so often but with the right education you can learn when to expect the weird things in the market.
PIP Circle choose our university partner for 3 reasons:
- The Two Week Syllabus – takes you through the basics to advanced strategies so you can learn what you need quickly which will mean you can be the best trader possible to maximise the time you have to trade.
- Access To Millionaire Traders – with over the shoulder training with professional millionaire trades you are able to ask the questions you need to know the answers to, which means you gain knowledge faster and then implement it into your trades.
- Additional Tools – access to the university comes with additional tools which help you to understand what is going on with the market so your analyse can be more detailed which means you reduce risk so you start to win more trades.
There is tons more value available as part of our partnership. Which you can see here:
*Risk Disclosure: Trading the financial markets carries high risk and may not be suitable for all investors. Trading on margin and utilizing leverage can carry an even higher level of risk that can lead to a complete loss of investment funds. Before deciding to trade the financial markets, you should carefully and diligently consider your personal investment objectives, level of experience, and risk appetite. Because a possibility exists that you could potentially sustain significant loss, you should NOT invest or trade any capital that you cannot afford to lose. It is your responsibility to be aware of and understand all risks associated with trading the financial markets, and to seek professional advice from an independent certified financial advisor if you have any doubts. PIP Circle is presented blog and should be used for informational purposed only. The Epic Trading Program is an educational and personal development program presented by the AESD.