Who wants to be Gordon Gecko?
Or those money-grabbing traders seen in T”he Big Short?” Thanks to advances in online trading technologies, you – or indeed anyone – can now ape your big screen trading heroes (or should that be anti-heroes?). Okay, so you might not be making billions right away like those traders, but everyone has to start somewhere …
Here we take a look at trending trading technologies:
Social Trading
One key aspect of online trading that seems to deter many wannabe traders is the idea that you are going it alone. It can be a very daunting prospect to face what is an exceptionally steep learning curve.
Thanks to the concept of social trading, newbie traders no longer have to go it unaccompanied. Sites such as eToro and Tradeo offer broker facilities and a social network-style site for both new and experienced traders alike. You can compete with your fellow traders for kudos and play money, and follow the traders of other successful traders at the site.
Binary Options Signals
Even once you’ve commenced your trading career it can be hard to keep an eye on the necessary financial markets in order to work out which trades you need to throw your investment at, and which should be avoided like the Black (Friday) Plague.
To aid you, you can sign-up to binary options signals provider. Some services pledge to offer a win-rate up to 70%, and as many as one hundred signals a day. They’re beginner friendly and essentially facilitate spoon-feeding approach to trading, but be wary of exaggerated claims!
TradeHero
TradeHero brings gamification– the application of aspects of video gaming and game apps upon real world activities – to trading. TradeHero is a free app for smartphones and tablets that acts as a stock market simulation tool. Despite being a simulator, the data it draws from is taken from stock markets and share prices all around the trading world.
With TradeHero you can ‘practice’ your trading talents before you start to risk any of your own capital. You can also see which stocks are currently ‘trending’ among other investors using the app, and compete with your fellow ‘gamified’ traders to rise up (or tumble down) the TradeHero traders leaderboard.
Binary Options Robots
There are plenty of ways you can approach binary options trading, but the one that is likely to be the most successful is also the one that’s the most intense – you have to constantly monitor markets whenever currency exchanges (or assets markets such as NYSE or FTSE) are open.
Unfortunately most traders find this impossible to do – or at least impossible to do and maintain any kind of life outside of trading.