From time to time I get asked if it is OK to trade using a mobile phone. My answer is nearly always the same: It is ok to actually enter the trades on the phone, but chart analysis is nigh on impossible on a mobile, and I don’t like to see trades placed without the correct analysis being undertaken. Trading should be treated as a business, and to place trades without proper analysis can be costly. I always do my analysis on my computer and would place 99% of my orders on the computer. Occasionally, if I have a special order condition I will trade from my phone when alerted to the condition being fulfilled.

Brokers will send messages like “Oil is down 1%. Trade now”, with a sell button linked directly to your account, which is enticing, but it does not mean that you should jump on blindly. Always do your own analysis. Generally I feel that by the time these messages come out the good entry window has passed.