As the calendar turns to 2021, investors will have a slew of opportunities to trade the capital markets at home, in their office, and on the go. There are a plethora of brokers that facilitate trading through smartphones and tablets that use both Android and IoS operating systems. The opportunities trade while you are on the go, not only entails your ability to execute trades, smartphones also allow you to use several tools including technical analysis and demo accounts. You can also access fundamental news and educational material. The powerful software that is incorporated into your broker's app, provides seamless CFD trading, and flexible tools that allow you to make robust investing decisions.
How to Access Fundamental Analysis
Your Android device will have access to your broker's real-time news as well as economic releases. Many brokers provide their clients with an economic calendar that will tell you in advance the economic eventual and monetary policy statements that will be issued during a week. An economic calendar is similar to a regular calendar in that it provides specific information on economic releases with the time and dates that the reports will be released. This new information can be market moving which makes it helpful for you to have access to this real-time information. Some brokers will also provide information on fundamental analysis that will help guide you through their view of where a currency pair will move based on interest rates and other asset movements.
How to Use Technical Analysis
Your android device will also likely have access to technical analysis tools. Technical analysis is the study of past price movements. This includes specific patterns that occur as well as support and resistance levels. Several brokers will offer charting-software through your android device. This can allow you to draw graphs and charts. You might also be able to overlay studies such as moving averages. You can use technical analysis tools to help you determine future price movements and generate risk management techniques.
Using an Educational Portal
All of the exceptional tools that are offered by your broker will likely be explained in their educational portal. The educational section of your broker's website will likely have videos and articles that explain how to use technical analysis and fundamental analysis to trade the capital markets. There are likely to be articles on strategies, risk management including stop-loss levels, and take profits. You will also be able to learn about many of the nuances associated with trading the forex and capital markets.
Using a Demo Account
In addition to learning about trading strategies, you will practice trading the capital markets through your broker's demo account. A demo account is a trading account that allows you to trade in real-time using most of your broker's trading tools, without risking real capital. Instead of using money that you deposit into your account, your broker will provide you with demo capital, which you can use to place trades. This will allow you to see if your strategies work, without having to risk real capital. You can test-drive all the different features that your broker provides without having to feel that you will lose money.
The Bottom Line
The upshot is that your android mobile device provides access to trading the capital markets, and many of the tools your broker offers. By using the educational portal as well as a demo account, you can learn about strategies and determine if they work in real-time. You can also chart different forex pairs using technical analysis, as well as read about the different news that will impact the future direction of a currency pair.