Some FX Trading Apps for You in 2013
Mobile trading with smartphones is really picking up pace as traders discover the unlimited possibilities that come with the use of these phones in trading activity. With these phones, a trader can now open a trade position in the bathroom, monitor it while on the train to work, and close the position in the restaurant.
There are other possibilities that smartphones have brought our way in the world of mobile trading, and this is with the use of trading apps that could be used to enhance the trading experience and increase profitability. In this article, we introduce you to some forex trading apps that could be downloaded from the Apple iTunes store and the Google Play store for your trading pleasure.
BLOOMBERG MOBILE
Bloomberg is one of the major sources of financial news in today's markets. A few years ago when retail traders discovered the Bloomberg radio and TV browser add ons, it was like something out of this world. Then along came the smartphone and a new world of possibilities was unveiled. Enter the Bloomberg Mobile apps. These are web-apps built for the iPhone, iPad, Android devices and Windows phones. They are free for professional subscribers to Bloomberg's news service but come at a monthly cost to other category of users. Users get access to real time market news, market analysis, price charts and currency/stock quotes. All this information can be personalized.
FX MARKET PIP CALCULATOR
Have you ever wondered why one pip of the USD/JPY is different from one pip of the EUR/USD? The difference is in the value of the pip. Why is it important to know the value of a pip in a currency pair being traded? Not only does it help the trader set targets, but carry trade practitioners use it to calculate their payouts from successful trades.
TRADING APPLICATIONS
Trading applications are almost a given in the various apps stores run by Google, Apple and Blackberry. It has gotten to a point where any spot forex broker who does not have a mobile trading application may find itself extinct in 2 years. I remember the old days of trading when I would open a position on my desktop at home, leave the house to go to work and throughout the day in the office, my mind was never at rest, always going back to my computer wondering what was going on. Not any more. The smart phone trading applications have put paid to all the anxiety and misery of abandoned trades that went awry. There are so many applications to choose from and if you search well enough, you will find a suitable one.
NETDANIA FOREX
If you need a continuous stream of currency rates and other market data, then you should seriously consider getting this app. Available for free, Netdania Forex serves as an aggregator of news and market data from several sources. Interactive charts with facilities for retrospective chart studies as well as the ability to use push notifications means that the app can be personalized for the individual and made to give him all the information that is required for a successful trade.
These are some of the wonderful apps available today. Why not download them and try them out for yourself?
