Can You Trade With A Mobile Phone?

 

 

The main question is not “can you trade with a mobile phone?” It should be “should you trade with a mobile phone?”

This article will attempt to answer that question, not to make a decision for the reader, but to present the facts.

Mobile trading is already very popular; there is nothing this blog – with its 7 weekly readers – can do about it.

Mobile Trading – Trend Or Trap?

Every broker worth its salt overs some form of mobile trading; it is like a standard product. As technology has become smaller, financial services have also become more portable. While desktop and laptop computers are still very much in use, mobile phones have become the staple for getting information, including financial information.

It is also natural that people should want to act on that financial information, especially because information such as this may require quick action.

There are advantages; the millions of people who have downloaded these apps certainly think so. One app has been downloaded 15 million times, another 2 million times, and one has 500 thousand downloads. There is no doubt that professional traders make up a part of this number.

Professional traders also use very large screens, computers with multiple screens, and computers packed with lots of processing power. The mobile thing is just for times when they absolutely have no other options.

Why?

Very Little Details On The Charts

Mobile phones usually have screens that are less than ideal for trading. There is very little historical data available, and most times it is not always easy to see the trend. The signal may be clear, but not the trend.

A buy signal can appear on a downward trending asset, or a sell signal on an upward trending asset. On mobile, a trader may see the signal, but not the trend.

For the purpose of analysis, it could amount to suicide to try to use a mobile device; analysis often requires historical data which is not available on mobile. You need to see chart patterns, and how frequently they produce the expected results.

Used alone, there is very little chance of success. Mobile phones produce very little more than an emotional rush.

Mobile Phones Are Addictive

Studies are ongoing about how mobile phones affect our brains, but one thing is for sure; we LOVE to use them. That presents a challenge because overtrading has been identified as one of the biggest reasons why traders lose their money.

Mobile phones + Trading = Disaster. It does not take an Einstein to create that equation because when you mix something addictive with another thing that requires the highest form of discipline, the result has to be bad.

I must be stupid because I didn’t know this. I embarked on a trading journey to see if it was possible to trade with a very small amount of money. For 3 months I was successful; small but steady profits came in.

But then something happened that ruined everything!

I decided to buy a new mobile phone so that I could be more efficient; trade on the go. I lost my balance the very next day. The next week, I funded the account again, and still lost it all in a day.

Then I took a step back to find out what went wrong. I didn’t understand; I had seen these kinds of charts before, and I didn’t lose.

Then it hit me. I asked myself; “what changed recently?” and then I finally understood. The problem was in my hands. It was my new phone. Unconsciously I had changed my trading pattern – a pattern I have written down in my secret trading book as a vital key of success.

Why did I change it; I liked operating my new phone. I was addicted to the phone, and addicted to the trading. It won’t happen again!

It won’t happen to me, but it will happen to others. Why?

Marketing Targets Newbies

Brokers are just evil. When advertising their new trading apps, they don’t target professionals, or semi pros like myself. They target newbies; people with little or no experience in the business. They make it seem like the app is just what they need to make a lot of money – consistently.

It hits them hard a few months later when they lose all their money; they realize it was a trap all along.

It’s just the way the world works; the strong take from the weak.

The Bottom Line:

When used in combination with computers, mobile trading apps can be quite beneficial. However, that is only when the trader has already established a system in place; a way of trading the markets successfully.

Learning to trade with mobile apps is not the way to go. It just cannot and well.

If you think this article is rubbish, then let’s hear it in the comments section.

What Is The Best Investment?

 

 

The creator of bitcoin is never going to be poor again. As at the time of writing this, Satoshi Nakamoto is worth more than 15 billion dollars. If all the positive predictions about bitcoin prove true, he could be worth a lot more, and even if things do not go as planned, he would still be worth several hundred millions or a few billions.

This is not the first time a guy would create something, and then become a billionaire after his creation received massive adoption.

The guy who created Microsoft stayed as the richest man in the world for 2 decades, before “losing his position.” He is still one of the wealthiest and most influential men in the world – he is a pioneer investor in many technologies of the future.

                            What is the Best Investment?

The best investment is the one you have created. That is the simple truth of the matter. When you create something out of nothing, you have control over it. This is a rarity in today’s world – for a person to control his own wealth.

When you create something out of nothing you become the biggest investor; the biggest stakeholder. As the biggest stakeholder you make the decisions, and dictate the direction of the project or idea.

Of course that is a big responsibility because if things go bad then the whole world puts the blame squarely on your shoulders. But what entrepreneur, innovator, or investor wants to fail, and be labelled an idiot by every financial paper in the world?

Part of this investment would be hiring the best hands available so as to make the project successful. Yes, the idea should be starting to form in your head by now. The best investment is an enterprise. An enterprise is like a living, breathing organism.

What Are Some Examples Of Investments You Can Control?

A book or a publishing house: A book can be a truly great investment; it is a good example of creating something out of nothing. When a person pours their thoughts and ideas into written form and publishes them, they become reality.

When the book becomes a best seller, it becomes an enterprise. It could be translated into several languages, be adapted for movies, and even have a whole series made out of it.

The author retains the rights, and retains control of the enterprise; the author decides what becomes of the book, and the direction it takes. Several millions of dollars can be made from books, and they can even make the authors billionaires.

Authors can have offices with many people working in them. They can even establish publishing houses of their own, and then go on to have many authors under them. It is the same thing; you will have to select the best authors, and editors and everyone else to make it work.

But just because you do not have a talent for writing does not mean that you cannot build an investment you can control. Here is something you might have the talent for.

A recipe, a restaurant, food: If you know how to cook, then you may just have the key to wealth in your hands. People will always need food, although sometimes it is not about the need – but about pleasing the palate.

A special recipe can build an empire; it can help one create a famous restaurant which will attract people from all over the world, and make a fortune for the owner. People can even make a fortune without a special recipe, although that may be attributed to something else.

Another possibility is creating a food item, or a variant of an existing food item that will be shipped to the buyers’ location. Maybe pizza, maybe a burger, maybe rice and chicken. If it is unique in taste then it is your creation. You made it, you invented it.

The recipe can be your closely guarded secret. You can even mix the flavors in a different location so as to ensure that your trade secrets do not fall into the wrong hands.

Software: software companies typically have more than one type of software. Even if you start out with one software right now, as soon as it becomes successful there is no doubt that you are going to hire a team of developers, so as to improve your current creation, and also to create new software.

There is no shortage of ideas to choose from; software can help people secure their homes and cars, help people sleep better, help people exercise, eat better, type faster, help people access the internet, and so on. Someone just became a billionaire by developing software to help people schedule appointments.

There is no reason why you cannot do something similar, or even better. The idea has to be yours, and you can gradually bring it to life. With that success will come a change in your financial status; technology is money.

A Trading system: for those who want to know more about trading, here is a free ebook on trading. A unique trading system is a great asset; many have already become billionaires by creating their own trading systems.

It all starts with an understanding of the underlying assets; currencies, crypto, commodities, stocks and so on. With that understanding comes a desire to find a way to trade it successfully. After find that way, you need to test it out for some time.

Some even get a loan to make it possible. By the time the test is over, you will probably have some investors looking for you, either to hire you to trade for them, or to partner with you. It is usually a good idea to ignore them.

Find your own way; build your own enterprise. Trust computers as little as possible; at least until you are successful enough to make sure that your computers are hack proof; and that your office cannot just be broken into, and your information stolen.

You can build your own investment house; and have investors trust you with their money. You help them make money, and you keep some for yourself.

What do these investments have in common?

Control: this has already been mentioned more than once in this piece, but it will not hurt to mention it once more. With these kinds of investments, the idea and execution are all in the hands of the person who created them.

In contrast you can buy stocks in a company and have absolutely no control of that money or investment. If everything goes well you will not mind too much, but if the CEO goes crazy and drives the company aground your money goes to smoke.

Movability: in most of these types of investments, the success lies in an idea, not in some building. Therefore, if the government of your country makes it hard to do business, you can just pack your bags and your laptop, and go to another country to set up shop.

In contrast to this, a real estate business is immovable; all it takes to kill it is a signature from the president or any other high ranking individual. You imagine that there will be protests, and that is true. Nevertheless, the notion holds true; a president can kill a real estate business on a whim. The whim may not even be targeted at the real estate business – it could be an economic policy, and it could wipe out the real estate market and many other markets in the economy.

The bottom line:

Stocks, gold, real estate, and business are all good investments. However, what we have attempted to decipher here is the best out of all the available options. Many people actually have these keys in their hands, but are too lazy or unimaginative to turn them into wealth. Hopefully, reading this post will give you the impetus to make the move. 

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