Nowadays almost everyone is trading on the internet. Unlike in the past when online trading was a preserve of the rich, the industry has been revolutionized by technology to make it possible for the masses to engage in this lucrative business. You can trade in currencies, stocks, commodities and options. The good thing is that you don’t need a lot of money to get started. Besides that, you don’t need any academic credentials.
All you need is a small amount of money and access to the internet. The other advantage is that trading transforms you to become your own boss. You can trade from any place and at any time. It gives you the freedom that you can’t get from any other business. After all is said and done, all these benefits have been made possible by advancements in technology. Below is a list technological advancements that have changed the way online traders execute their orders.
- Virtual Trading
There are basically four market sessions; London, New York, Sydney and Tokyo. Prior to the coming of virtual trading, traders could only participate in a market that was close to them. This is because they had to be physically present to execute their orders. It was therefore impossible for traders in multiple markets because they could only be in one place at a time. Those days are now gone. The internet has made it possible to participate in multiple markets. The technology has been refined further to enable investors to trade using mobile devices which is much more convenient than using computers.
In fact, traders are to take advantage of time zone difference and trade round the clock, 24 hours from Monday to Friday. Moreover, traders have access to real time data, which means the playing field has been leveled to give all investors equal opportunities. Even opening an account with a trading broker has become much easier. Brokers have benefited the most from this technology. This is because they no longer rely on local clients. Virtual trading has therefore resulted in a win-win situation for all the parties.
- Trading Robots
Before trading robots such as Bitcoin Trader Robot were developed, investors had to execute their orders manually. Traders had to watch the screen of their computers the whole day to avoid missing opportunities. With trading robots, that’s now water under the bridge. A trading robot can place orders automatically and close them when they reach your target profit. In fact, these robots have been coded by software developers to keep an eye on the market and open trades when the conditions are favorable. Since the robot is automatic, the trader doesn’t need to take any action. As long as the robot is hosted on a VPS (Virtual Private Server) you will make money even when you are asleep.
- Social Trading
In the past, it’s only those who had knowledge in financial markets that could venture into online trading. The chosen few actually charged an arm and a leg to anyone that wanted to learn the art of trading. And may be that’s why there were not many traders. All that has been eliminated by technology. Nowadays you can invest in forex, commodities or stocks with zero knowledge. This is because the trading platforms have been designed to make it possible for people to copy the trades of the most experienced traders. The traders whose trades are copied are rewarded with a monthly commission depending on the wins they have recorded. The good thing is that there is no limit to how many traders you can copy.
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