In today’s fast-paced market, traders rely on various tools to stay ahead of the game. But when it comes to executing trades, do you swear by the convenience of your smartphone, allowing you to trade on the go with ease? Or do you prefer the robustness and analytical power of a PC or laptop setup? Please do share your opinion too
Trading over wifi/phones is a very common and well-known source of accidents and sometimes even horror stories. Always has been; always will, I think. Difficult (for me) to imagine serious/pro traders willing to work that way.
Laptops can be wired in, of course, but they rarely are(?).
I prefer the ease of working with a smartphone to the favoured use of the higher capacity PC. The tools don’t make the carpenter. A good trader is profitable using a laptop as he or she is profitable using a smartphone. That’s just my opinion.
I agree, but a larger screen could make things easier to see. Of course, if you already know what you’re waiting for, and you already know the chart, why not just use a phone?
If you’re waiting for a MA golden cross, maybe you don’t need a laptop for that.
A great question and until this morning, I would have voted PC/laptop. But I am using a new Phantom wallet to trade Solana network MEME coins, and I sold a position early this morning on my mobile. For all other trading, I will continue to use my laptop, but for convenience and for market watching, I am beginning to prefer using my mobile. I am a slow adopter of technology despite being an IT consultant. I am having a lot of fun with SOL based meme coins right now whilst developing some trading rules on the fly (and changing them far more often than I thought). Since I started this new caper (strategy?), I am limiting my “trades” to risk of less than $10 per trade. At the moment I am down $22.40 over the past two weeks on this new strategy. The full development cycle for this strategy is “lose up to $1K”, so I’ve lost 2% of my bank but it’s been a laugh a minute to witness and feel some of the extremes of the MEME coin rug pull markets. You need a rapid response mechanism if you want to be suckered in to this ridiculous market.
Thank you everyone for your attention and opinions. I personally am more comfortable using a PC/Laptop because there are lots of tools that I can use. Ease of analyzing charts is also one of the reasons.
@Pipsteroid, cool… would you mind to show your setup?
It is the time I have spent with my nephew that has caused me to use both mobile and PC in exercising some transactions. Especially that almost all apps I use now require two factor authentication and some of them 3 factor. I find myself also using whatsapp extensively just to copy and paste UIDs for crypto between laptop and mobile. Sometimes mobile is more responsive to market data and sometimes laptop is more responsive. For all trading except real time sniping, it probably doesn’t matter but when prices are bouncing around at up to 100% per minute, it can really matter when you decide to commit to ladder in, ladder out, buy and sell.
I trade using volume spread analysis (VSA). The only indicator it uses is the volume indicator. Every trading platform has it. The late Tom Williams is the founder of VSA. I pursued the knowledge of VSA because I wanted to be free from the shackles of custom indicators and adopt the flexibility of trading where I don’t have to rely on my PC to analyse and execute trades.
Hi Torchwave,
I am also a fan of volume. I use it extensively in crypto meme coin trades. In these cases, you can assume that the exchange (or market maker) is a fair volume approximation to the total market if that maker has a large share of that specific crypto token. If you trade Forex via a broker, I have assumed that the volume information delivered by a broker is only the volume that particular broker is processing. How reliable is volume from one broker from thousands? I am only asking because I don’t have any idea about how volume is estimated (or proxied) in the Forex market.
The debate has always been there whether volume in forex is reliable being a decentralized market. It may not reflect the actual volume like in a centralized market like the futures market. That notwithstanding, Tom Williams has said in his book that in the absence of actual volume tick volume is okay. All the illustrations he used incorporate tick volume.
It may come as a shock but tick volume provided by the brokers is actually all one needs to trade using volume.
Granted, there are discrepancies in brokers volume when compared to each other but it is in most cases not so great in degree of deviation from the source of their volume feed as to severe its use and reliance. They may not all be the same but their data are almost always identical.
There are trading companies that offer what seems to be accurate tick volume data available on monthly or yearly subscriptions such as ESignal. Tom Williams advertises the use of TradeGuider platform. That does not mean a VSA trader’s chances of success are crippled without these. Quite the contrary. After all said and done, it comes back to the fact that brokers’ tick data volume is sufficient for trading VSA with good success.
I trade the 1h chart. I do take into consideration the Weekly, D1, and 4h charts. Execution can be on the 1h, M30, M15 or M5. I always incorporate multi timeframe analysis.