Technology News All about technology

10Oct/120

Advent of Forex Trading on Mobile Devices Pushes Boundaries of Freedom

Boulder, Colorado (PRWEB) January 31, 2009

Today, newly elected U.S. President Barack Obama denounced the actions of Wall Street financiers over the last year as "outrageous" and "shameful." Throughout 2008, the world economy cratered, due in no small part to these U.S. financial institutions. Yet, there remains a vibrant pocket of financial activity largely untouched by these dark economic events. This industry is called Forex trading.

According to Colorado-based (US) insider Trading Mastermind (http://www.forextradingseminar.com), all indications suggest that Forex trading has not only weathered this global economic downturn but has even seen moderate increases in this last year. Forex insiders predict even greater gains during 2009 and beyond.

Forex trading's buoyancy is due partially to technological advances which now allow foreign currency exchange trading to be conducted on wireless mobile devices.

Technology Brings "Freedom of Mobility"

Forex, short for "foreign currency exchange," is the purchase and sale of foreign currencies. Forex has emerged as one of the prime ways that ordinary citizens can leverage the power of world economic markets to make considerable sums of money for themselves.

But one myth of Forex trading--that of the daylight-deprived Forex trader glued to a computer screen all day long--has recently been destroyed.

Now, Forex traders can operate at nearly full capacity, with the assistance of wireless devices, such as pocket PCs and mini notebooks.

Reports Scott Shubert, CEO and President of Trading Mastermind: "One of the reasons I love Forex trading is the freedom it provides, not just the freedom from enslavement to the corporate rat race, which itself is a good enough reason, but also the freedom of mobility. I like to go places"

As the saying goes, the proof is in the pudding: Mr. Shubert delivered this statement pool-side from a Pacific Island resort where he was vacationing while attending a conference.

The Competitive Edge

More important than increased mobility, these mobile devices give Forex traders the competitive advantage they need.

Forex trading is a highly volatile, fast-paced marketplace. With massive daily turnover of $ 3.2 trillion, Forex trading far outpaces most other financial markets--stocks, commodities, mortgage-backed securities, and even precious metals.

Any Forex trader serious about making money, particularly in these economic conditions, needs to grab every available competitive advantage.

"With QuoTrek (a service providing streaming quotes and charts to mobile devices)," says Shubert, "I have access to all the currency pairs; can easily change from one timeframe to another; all the indicators I need are here; and it saves your chart setup so it's there the instant I open it up again."

Recommended Mobile Devices for Forex Traders

Trading Mastermind recommends a number of mobile wireless devices as being appropriate for the Forex trader:

Comments (0) Trackbacks (0)

No comments yet.


Leave a comment

No trackbacks yet.