Anyone else find cell phone trading ridiculous?

Beginner Questions
1

Recently, GFT, FXCM, and I believe IBFX have offered a Forex trading application for the iphone and other popular smart phones. You can pretty much view basic candle stick charts and make trades directly off your phone.

Now it might just be me, but this seems like a poor marketing gimmick meant to attract new traders. Trading requires focus and patience, none of this “trade on the go” nonsense that we see on banner advertisements here on Babypips. Not just that, but I doubt these apps allow any form of custom indicator. Just looking to hear thoughts.

2

Lol, I use a mobile platform, but just to manage trades, and to check prices once I’ve done my analisys on my computer.

Certainly not the best platforms for analisys, but just for the purpose of monitoring things.

I have installed these platforms on a blackberry and on an Ipod (for when I’m at home but not in front of the computer) and the Ipod platform is far superior than that of the blackberry.

And yeah they allow indicators, I don’t find them useful in mobile platforms since they’re ridiculously hard to see, but they’re there.

So to answer your question, no I don’t find this ridiculous, when used as a complement.

3

I agree, I have used the GFT mobile platform and the MT4 for Windows Mobile and they are not designed to seriously be used for trade entry as you cant properly analyse the market … it is good though if you are monitoring a trade or know prices from previously conducted analysis.

I dont use Forex on the Go as it is a subscription based thing which I cant justify … at least GFT offers theirs for free on both Windows Mobile and iPhone.

4

I would probably use it to check the status of open trades and be able to add or change trailing stops, I dont imagine I would use it to open new positions though.

5

Cellphone trading, the only cellphone trading I think would do is to trade it in for a new one.

6

I use it to just check prices and see how my trades are going.

7

Haha, got a good laugh out of that :smiley:

8

Actually it is possible to learn my trading strategy on a mobile, you could learn it on the train! but actually trade no - too risky.

I think it would be like clicking sell, connection drops, Oh no, did that execute or NOT, wait for reconnection, takes ages to logon, looses all data, have to login again, logged in again, order executed, market moved 3 million pips, stopped out for your shirt, trade mobile in for money for food! :smiley: