Top 3 Ways That You Can Trade Stocks from Home
In times prior to the internet being available on every device, hardly anyone could trade on the market from home. Real-time charts, up-to-date information and online trading weren't available to anyone. However, in today's world, things have completely changed. More and more people are becoming full-time traders, and conveniently are able to make a generous income from the comfort of home. For those who may be considering trading from home, here are the top 3 ways to trade stocks from home.
Online trading
Opening an account with an online broker is probably the easiest way to trade from home. Online brokers like SureTrader and EToro allow trading of stocks, currencies and commodities right at your computer. The trader just places a buy and sell order using the broker’s software or website. All trades are executed electronically these days – rather than physically having a broker execute them for you in person. In addition to automatically trading, an online brokerage will have access to current quotes in detail as well as by-the-minute news feeds about any major events in the market.
If you make the decision to trade online, make sure that you do your home and invest in a decent computer and most importantly, a reliable high-speed internet connection. Some traders utilize multiple monitors with their computer, so they can monitor charts on one screen, while still being able to trade on another. Obviously, its become much easier to trade from home. Over the last few years the next option has made it even easier…
Trading with apps or mobile responsive sites
With the growing use of smartphones, more brokers are beginning to offer online trading through apps or have sites that respond to whatever device a trader is using. The advantage is that traders can use them when trading from home in addition to when they are on the move. On the down side, there are a few disadvantages. First, some mobile trading apps don’t offer all of the features that web-based trading platforms do. Second, in areas where your mobile coverage is iffy at best, traders may not be able to maintain a steady connection.
Trading by phone
For those traders that would choose not to trade over the internet, they may still trade from home by going old school with it... by using a traditional broker. They call their broker and ask them to make trades on their behalf. They will review the order with the trader, and then place it for them. Alternatively, some brokerages offer automated trading over the phone. If this is available through the broker you select, traders can call and select the option that puts them through directly to their automated trading system. From here, they can enter their order using the keypad on their telephone.
When traders place an order by phone, the broker will tell them the current stock price. However, if a trader wants to check stock prices before they call, it can be done online, or by checking in the newspaper for yesterday's closing price. The disadvantage is obviously that it does not provide real-time quotes, making it very difficult to day trading from home.
Labels: Basics of Trading, Trading Strategy
