Which came first, the chicken or the egg?
This is a question that has been asked throughout the age, and the same principle can be applied to the rise of freelancing and remote working in today’s market. While freelancing and telecommuting is increasingly prominent in developed economies across the globe (an estimated 33% of U.S. workers currently work independently or from home, for example), it remains unsure as to whether such a trend has been driven by technology or simply triggered a demand for more advanced remote communication capabilities.
The Benefits of Trading forex on the Move
Either way, it is now possible for individuals to complete a host of professional tasks while on the move, and while this is universally beneficial in some instances it is absolutely imperative in others. It can make a huge difference to the efficiency of forex traders, for example, as executing orders on the move delivers the following benefits:
1. Follow the events across all three Forex Trading Sessions
The Forex market is active and accessible for nearly 24 hours every day, with individual sessions opening and closing throughout this period. Although the schedule changes between the winter and summer months, the amount of time that the forex market is open remains unchanged and this can cause issues for traders depending on their specific location. The ability to review the real-time market and execute orders on the move negates many of these issues, however, as it enables traders to drive efficiency without compromising on their work-life balance or physical health.
2. Capitalise on Real-time market Trends
The forex market is the single most volatile and liquid market around, meaning that traders can often suffer at the hands of sudden, real-time price movements. Mobile access to the market and the type of live trading platforms listed here helps you to minimise the impact of such shifts, however, as you can react immediately by bringing up details of your portfolio, evaluating the performance of individual trades and making any necessary changes. The entire process of tailoring your strategy to suit the real-time market takes a matter of moments, minimising loss or optimising profits in any given set of circumstances.
3. Access Breaking News and Economic Trends
On a similar note, the type of aforementioned trading accounts offer a host of news-based resources that are accessible 24-hours each day. These tools collate and publish real-time events and trends as they unfold, delivering them straight to traders’ mobile devices and enabling them to make informed investment decisions ahead of time. Without mobile access to live news and economic developments, it can be extremely difficult to optimise the performance of your forex trades on a daily basis.
Forex traders use moving averages for different reasons. I use them my primary analytical tool, then sometimes for my confidence builder to back up my investment decisions. There are really few different types of strategies I use but I prefer to follow the events across all three Forex Trading Sessions.