Should you trade with a mobile trading app ?

I’m always surprised when I see these youtube videos of people trading with mobile trading app systems. It puzzles me how you can possibly make a trading decision based on a tiny screen.

You’ve probably seen those massive screens traders have where they study charts. SO is there ANY advantage to trading with one of these apps.

I have two I actually have been looking at – one I use with my live account – Metatrader 4, it’s simple and it’s most annoying feature is that it doesn’t remember what chart time frame you like. Which means every time you open the app to check your trades it wants to reset to the 5m chart and there seems to be no way of changing it.

XTrend is obviously aimed at the beginner. However, there are some pretty clever trading traps in there. The default stop-loss appears to be 0. Which means if you don’t change it your trade will very quickly stop out. It’s a tiny screen to work on but there is a lot of interesting information and it appears they are giving away free money.

I suspect they are relying on newbie traders who will lose everything they place. Personally, although I use my own robot I have developed over 10 years, I would never make trading decisions based on a tiny screen. I need to see a big chart.

How can you make trading decisions just from a tiny screen?

Please learn to trade before using any applications. Pay special attention to the MACD indicator as in my experience it is the most reliable. I myself use a version of MACD that I modified with slightly different maths.

Should I use a mobile trading app?

The short answer is only if you are going to make trading decisions elsewhere. You need to spend a lot of time learning to trade and building up your knowledge before beginning to trade, especially with the tiny screen of a mobile trading app. You *WILL* lose money to start with. It takes time to develop a trading plan and understand what the charts are telling you.

So – use one if you wish, but use something like TradingView.com or Metatrader 4 to make your trading decisions – except that – of course, you can trade directly from these platforms.

If you see someone trading on a mobile app on youtube I can guarantee they will not make money. If you see one of these scammers making a fortune remember they will probably lose it the next day.

Be very careful, trading takes years to master. Mobile Trading App ? Maybe I just can’t see the advantage except for viewing trades.