By Yael Warman

We know you love Forex. We know that you think about it all the time, whilst brushing your teeth or while your spouse is talking. But we also know you love holidays just as much. The sand between your toes, the sea breeze blowing your hair, the beer, sleep, hotels, sun tanning by the shore…. That’s why every year when holiday time comes around and you are forced to leave your personal computer at home to get some sun on your pale legs, that dilemma of how you can enjoy both your loves, resurfaces.

Like everything in life, finding a way to marry the two is all about balance, and thankfully, there are now tools to help you find just the right balance. Now you can enjoy a long cold beer whilst watching the waves hit the shore (even if it makes you think of ichimoku waves), with your automated trading solution working away, churning out the profits.

Or, you can continue to trade on your mobile phone when no one is looking (like on the rollercoaster at Disney World, though admittedly that would still be a challenge).

In a two-part series, we consider some of the options available to you when trying to find your personal solution to this dilemma. First by looking at Mobile and Web trading and in the second part we’ll present the option of Automated Trading.

Mobile or web trading

Mobile trading platforms have become a mainstay of the technology tools offered by FX brokers. It gives you access to trading anytime, anywhere, 24/7, so long as you have access to an internet connection, which c’mon, even in the Himalaya there is access to at least a couple Wi-Fi bars . These platforms allow you to track the market and open or close positions, contain indicators and the ability to create pending orders, trailing stops and close positions. The actual mobile platform is usually limited to these aspects, however, with other tools available on the mobile, it is generally possible to duplicate a high level trading experience. As a result, it is entirely possible to undertake all of your trading on a mobile device at any time the market is available.

Web trading offers the same experience, simply requiring a PC and the internet. The platforms are generally more sophisticated than those offered by the mobile platforms, so higher level analysis can be undertaken directly, making it easier to open positions quickly. You can use any computer to login, so while on holiday, a hotel or internet cafe can provide for you adequately.

Since much of the trading can be done using these methods, you can follow the markets as needed while on the go, or simply as a method for opening and closing positions as needed. Since you can undertake pending orders and execute stops and trailing stops, it can simply be used to set the day’s trading at a convenient time, without needing to be checked during the day.

If you are holidaying somewhere remote, poor data connectivity or slow internet speed will impact your trading, sometimes substantively if you are a swing or day trader. Quotes or charts can be slow in updating or trade execution can be slow, impacting your potential closing / opening price. For those used to high speed internet with good execution, this might be a significant cause for aggravation.

About the Author:

Yael Warman is a creative writer with a strong background in marketing and advertising. Yael has been a writer for over 10 years and has worked for clients in various industries as well as her own companies and is currently the Content Manager at Leverate.