Ever since we started day trading around the 1990’s, no one would have expected in their strangest dreams that it would grow into the industry that it is today. In those times, the people who engaged in day trading were only a certain set of individuals. In the recent times, things have changed for the better. Millions of people trade stocks, currencies, and options, right from the comfort of their homes. Technology has played a phenomenal role in influencing the way in which people do day trading.
In this article, we will be discussing the changes in day trading over the years and how it was influenced by technology. This will guide someone who is planning to get into the industry and what they can expect in it. If you are someone who is new to day trading and you are just looking to learn more about it, then this article is targeted at you.
IMAGE: HOPE TRADERS
[pullquote]The latest advancements in computer and internet technology have had a huge impact on the day trading business.[/pullquote] These days, trades are made from anywhere across the globe as long as there is a stable internet connection. Traders make use of this accessibility advantage and choose to live in countries where the cost of living is very low compared to the market in which they operate.
These people are called as digital nomads and they are the ones who are really cashing in and living the life of their dreams. Development in the field of computer technology has paved way for all of this. Some traders are making use of their smartphones to trade as well. With the growing advances in automation, a huge number of traders rarely even turn on their computers. This is a total changeover from the past when trading away from a computer screen was an unthinkable act.
Speed is a highly critical factor when it comes to day trading. It is the case now, more than ever. Traders heavily rely on speed to make split-second decisions. By making use of hotkeys, a trader is now able to make orders in advance at breakneck speeds. With just a click of a button, traders are now able to jump in and out of positions.
This increases the chances for traders to maximize their profits and minimize their net loss. In addition, traders are also able to place hundreds of orders in a given hour giving them the ability to better position themselves in the market, based on whether they are trading Marijuana stocks or big companies like that of Apple and Microsoft.
When it comes to today’s day trading world, traders have the liberty to trade right from their smartphones and other mobile devices. This has helped the traders to live away from the physical location of the stock exchange. They are now able to trade on the go from anywhere on the globe with the help of their mobile devices like smartphones and laptops. The only requirement is a fast and stable internet access. Traders are now able to trade even when they are on vacation, making money while chilling.
This gives them a lot of freedom, which was missing in the profession a few years ago. Traders in the past would have never imagined in their wildest dreams that they would be having so much freedom in their profession.
Technology’s Influence On Trade – Conclusion
[pullquote]Day trading has changed drastically over the years for the better.[/pullquote] Today’s traders can consider themselves lucky as they have many options that their counterparts in the past simply couldn’t even dream of.
With computers getting advanced by the minute, we can expect the future of day trading to keep its pace with the changing technology. People who didn’t have the chance to engage in day trading before will now enjoy new career opportunities in day trading right from the comfort of their own home.
I hope this article was useful for you to learn about the latest technological advancements in the field of day trading. If you have any doubts with regards to this, let us know through the comments and we will be glad to help you out. If you have any suggestions regarding how we can improve the article, let us know them through the comments as well for us to improve.
If you are interested in even more trading-related stories and information from us here at Bit Rebels then we have a lot to choose from.