5 Tips for the Trader on the Go

No one can deny that mobile trading has been a real game changer for a huge percentage of traders and investors around the world.

At eToro alone, over 15% of trade orders every day are executed via mobile devices thanks to our comprehensive selection of iOS and Android based apps.

However, whenever switching from one technology to another, one has to ask one’s self: how is this technology different from the one I was using before, and what do I have to do to make sure that I am trading at maximum efficiency?

To help you answer that question, we’ve come up with 5 essential tips to help you make the switch to mobile trading in the smoothest possible way.

Tip #1: Your battery is your best friend, show it some love

There is nothing worse than your smartphone or your tablet shutting down because of insufficient battery just as you’ve opened some high stakes positions and the markets are going into hyperdrive. The horror! The panic! The uncertainty! The regret of it all, especially as you could’ve avoided having a nervous breakdown simply by taking your charger along! If you’re someone who’s regularly trading on the go, leaving the house without a charger is just not an option. And when you’re out, take every opportunity that comes your way to charge your device. Plug it into your car lighter, leave it to charge on your desk at work, or ask the waiter at the cafe politely if he/she can sit you next to an electrical outlet. In fact, it’s a good idea to even have a spare charger at work, so you’re never left in the lurch.

Tip #2: When the markets are volatile, you better stay awake

Most mobile devices are by default set to turn off their screens automatically after a few seconds of inactivity, in order to conserve battery. But since we’re already applying Tip #1, and have a full battery at all times, there is no reason for us to miss out on any market action because our screen is constantly going dark. This is especially important in times of high volatility, such as an economic news announcement, when even a few seconds can be crucial to our outcome. Most devices will allow you to set the screen timeout period to as high as 10 minutes, and some enable you to set it to never timeout (some versions of the iPad for example). My own Samsung Galaxy S3 (Android) has this option in the “Developers Options”, which enables you to set it to “Stay Awake” while charging.

Tip #3: The gift of multitasking will take you a long way

If you have a recent Android device, you probably have a multi-window option on your phone, which can be a significant advantage for the trader on the go. As I’ve mentioned earlier, we offer multiple apps for both Android and iOS, so what better way to stay on top of everything than by running all your available apps at the same time in multiple windows? You can have youreToro Mobile Trader running alongside the Stock Watch app, as well as the eToro OpenBook mobile site giving you both social and market perspective at the same time. All you have to do is activate the multi-windows mode on your device. Unfortunately, this is where Android devices beat out Apple, as the iOS system doesn’t have a built-in multi-windows mode. However, there are apps in the iTunes store that will enable you to view multiple apps on your screen, you just have to do some research to find the best one.

Tip #4: Screen space is a valuable Commodity

Here’s a question even a two year old can answer without thinking: is it better to view price charts on a small screen, or a big screen? The more screen space you have, the more information you can view without straining your eyes. Charts in particular require quite a bit of screen space in order for you to get the full picture, especially if you’re viewing short term price movements. So obviously, if you have the choice of trading with a smartphone or a tablet, the tablet is the way to go. However, for the large portion of us that don’t have this choice there is still something to be done about screen space. Firstly, all of our apps are designed in the aim of maximizing screen space for every interface, so we’re already halfway there. Secondly, be aware of the position of your screen when you’re viewing each interface in order to use the best position for whatever it is you’re viewing. For example, price rates are best viewed vertically, as you can see more of them, however charts are much easier to read in horizontal mode, which also enables you to view the chart in full screen mode.

Tip #5: They’re free, so collect them all!

All of our apps are free to download from the iTunes and Google Play stores, so don’t get just the Mobile Trader, get all the apps you can! All of our apps have different functions and bring something extra to your trading experience, so why not get them all? Visit our Mobile Trading page to view all the eToro apps available for your mobile operating system.

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