Device for mobile commerce

Trading on the currency market continues without interruption from Sunday evening to Friday evening. With this configuration, it is extremely difficult to observe the market for half the time, and it is certainly impossible to do it using a computer. And not everyone practices day trading and ultimately leaves their positions open for longer. Of course, pending orders Stop, Limit, come in handy TP and SLHowever, this is not always enough. For example, macro data publications may change the market situation dramatically, and at that time we may not have access to a computer because we are just outside the home or business or our professional life is simply preventing us from doing so. In such moments mobile trading comes to the rescue.

Specify your needs, specify possibilities

Before we decide to buy a specific device, sign a contract with a mobile network operator or even make a choice as to the transaction platform, it is worth determining your own needs and considering the possibilities, both financial and technical-logistical.

Ask yourself - what exactly do you require from mobile trading?

Do you plan to make a full analysis often moving from place to place and make standard transactions? Maybe you just need to access the candle chart, where will you see if / how the situation has changed and will you react to changing conditions? Or maybe you are just planning to control items and their balance?

Also think about where you will use the device and how long. This is important both because of the length of work on the battery (with the internet turned on each device will work much shorter, especially with 3G / 4G), and because of the size and speed of waking up, that is the time from inclusion to the moment of readiness for action.

Ultimately, the choice of platform may be crucial in some cases, because mobile applications are not shared by all brokers, and if they are usually characterized by limited functionality. The price may also be at stake. It is true that currently the electronic market is so diverse that even with a modest budget we will be able to find something, if not new, used and not from the top shelf. Trading should be enough.

READ NECESSARY: Review and comparison of mobile platforms

Also, be prepared that you can not find an option that will perfectly meet your needs and you will have to make a compromise.

Laptop vs netbook vs tablet vs phone

In fact, if we think about trading out of the house, we have only (or as many as) the above options to choose from. Each of them has its advantages and disadvantages. Let's start with what you plan to do.

If Your goal is only to check the position and possibly suspect the situation on the chart each of these devices will pass the exam. There is no need to hide, however, that the most convenient and fastest option will be a smartphone, preferably with the Android or iOS (Apple) operating system. Most mobile platforms are designed for these OSs and work very well on them. The applications do not have cosmic requirements, so you do not need top-shelf equipment, but the large screen will certainly facilitate working with charts.

If you need to perform a comprehensive analysis using the basic indicators or analytical tools, the choice will narrow down to a laptop, netbook or tablet. Masochists can also risk a phone with a large screen. It is doubtful, however, that in the long run they would not gain gray hair. Putting small elements with your finger on a small phone screen will not be very convenient. Netbook has an advantage over a laptop in terms of weight, dimensions and battery life, however, it is inferior to the tablet in terms of launch time. If you move a lot and only want to see what is happening on the market, the tablet will do better. Additionally, it should last 8 or even 10 hours on the battery. However, if the "stops" last a little longer, the netbook will certainly be more convenient to use.

Personalization of settings

The situation is more complicated at the moment when we want to use custom indicators, scripts or machines in trade. Unfortunately, however, mobile platforms are usually hermetically constructed and do not allow for adding custom tools to them or launching external strategies. If you care about using something like this, you can only look for laptops or netbooks right away. Unfortunately, the disadvantages of these devices will be a shorter battery life (laptop up to 2 hours, netbook 4-6 hours) and a long startup time. Even if we only "put" the system to sleep, it is connected to Internet and logging in will take several times longer than in the case of a phone or tablet - and at the same time use up the battery even more. There is also a larger size, which makes it difficult to move. Instead, we will gain a screen that is convenient for analysis and full platform functionality. Something at the expense of something.

Can be used as a last resort VPS-a (where the ze platform will be launched strategy or other tools) and the remote desktop (the program thanks to which you connect remotely with VPS) e.g. on tablets or smartphones, however, efficient and fast operation of the program on the touch screen will be a miracle. The solution only for persistent :-).

Some brokers offer web platformsthat is, those whom you do not have to install on your computer (or other device) and just run it from the web browser. They also have limited functionality and do not allow using non-standard tools, but have the advantage that regardless of the device and operating system (if it has the appropriate add-ons installed) you can quickly use it and do not worry, for example, that the broker does not share the mobile application for a phone with our OS (eg Windows Phone for which there is no dedicated application).

Mobile trading and the price ceiling

Assuming that the mobile device is to be used only or primarily to trade on Forex + internet browsing, we do not need to measure the equipment from the top shelf. Technological progress in the field of miniaturization and increasing hardware capabilities is so fast that electronic prices fall very quickly, with FX platforms being updated much less frequently and usually not affecting their requirements to a large extent.

The simplest netbook with 2 GB RAM and a dual-core processor will easily handle several MT4 simultaneously (+ custom indicators, EA) and a program for connecting to the mobile internet. At this moment (February 2014) you can find such a computer for the price of 1000-1500 PLN.

The tablet market is constantly evolving and here, depending on the company itself, you have to take into account the price differentiation from 1000 to 2500 PLN.

When it comes to smartphones, Apple's devices (1300-2500 PLN) will be the least advantageous, although their efficiency, functionality and simplicity in use may translate into greater comfort of use in the long term. Nevertheless, making a choice only through the prism of trading is enough for an Android device, where the prices of new, more decent copies (Samsung, HTC) start at about 600 PLN.

Internet in the absence of access to Wi-Fi

Without a doubt, it can be said that wireless network is much more convenient when it comes to Internet access. You do not have to worry about the range of the cellular network or the cost of data transfer. It happens, however, that where we are currently there is no access to Wi-Fi or it is blocked for a given type of devices or sites. Then we can rely on mobile operators. If you know in advance where you will trade, be sure to check what coverage is available in specific territories for specific operators (you can buy a prepaid card for PLN 5 or ask someone who has a telephone in a given network) and whether there is 3G access. Range is extremely important for the quality of the connection and it will depend on it (and access to 3G / 4G) how smoothly our platform will function, and thus how quickly our orders will be sent to the broker server.

Data transfer on mobile platforms is not very big. It mainly depends on the number of instruments observed and the charts being viewed (number of pairs, time intervals) and the frequency of updates, however, it should not have a negative surprise. To avoid a surprise, you can always equip yourself with a program that counts the data transfer and informs you that the given ceiling has been exceeded.

If you decide to have a laptop or netbook, it is better to be interested in offers designed strictly for using the internet, because there the transfer limit is easier to use, and the platforms are more resource-intensive. We will get a dedicated USB modem straight away, which we would otherwise have to purchase.