Mobile Trading-Easy way to loose money
Technology has changed our life in big way, so the way we trade Market. There are mobile/tablets Apps for Market Trading. These are developed by brokers and advertised by them heavily because they want people to trade from anywhere and anytime in Market hours. These are developed in order to generate the revenue for Brokers, because its too handy that people can take trade very often and easily. So, number of trades will increase and so the brokerage.
One should avoid taking trade on these apps. Phone screen is not meant for analysis of your trade. The focus is not there on such small screen and there may typo error for number as very small keys. Below is just one example many traders do such mistake.
Refer the chart on Mobile app, based on trend, Higher high and higher low is Uptrend and you buy at support in Uptrend after confirmation.You will be happy to see current green candles on screen and will think that it will make higher high. Being a small screen, you may miss the real levels for Buying and selling. The result is in second picture, after some time , you see that your Trade go wrong and lead to losses. That buying at support was not actual buying, It was resistance at High and It should be sell and it came down with speed.
So dear Friends, avoid taking trade on Mobile or Tablet, you can use these apps for tracking your trade for levels which you have already taken based on your study so that you can track the price for exiting on your Trader Screen.
Thanks, and Happy Trading
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